Creating a world
with the Next Generation and their families
Grow in your family
Communicating effectively within the family
Families – as the smallest entity of society – play a major role in creating a better world. The way in which families operate and interact influences the long-term path of the NextGen. This affects the future of established legacies such as family businesses and family offices that create jobs or support new ventures, thus producing a positive effect on a society as a whole. Communication between different generations can be tricky and can result in conflict – undermining harmony within the family and weakening its control of the wealth and legacies often built up over generations.
The meaning of families and their role in defining who we are and what we stand for.
"Families are the people who give us the most love and yet often experience our poorest behavior." Viola Steinhoff Werner, Head of Global Next Generation & Families Department at Credit Suisse
Many families struggle to share information openly – especially when tough decisions are involved. Important opinions remain implicit, or unvoiced.
Describing their family dynamics, the NextGen often say that the views of more senior members come to the fore while others find it more difficult to make themselves heard. They also express a strong need to understand their families’ future plans and aspirations and want a seat at the table to help shape those plans. An open dialogue is therefore key.
5 steps to improve family dialogue across generations
Download the Family Communication Scorecard to assess how well your own family communicates
Download here (PDF)
Money and its soft facts. Ensuring harmonious succession in families.
Wealth succession: Challenges for the NextGen and how to overcome them
Read the article
From family to dynasty. Staying successful across generations.
Just because families are unique, does not mean that the situations they face during the family transfer are unique. Prof. Randel Carlock, Business Professor at INSEAD and Coach and Family Therapist and Viola Steinhoff Werner, Head Global Next Generation and Families, Credit Suisse discuss why respect and shared values are key to staying successful as a family across multiple generations with Valerie Rockefeller, Chair Rockefeller Brothers Fund, and Justin Rockefeller, Board Member of Rockefeller Brothers Fund and The ImPact, and Global Director of Family Offices and Foundations at Addepar.
We need to recognize that we can benefit from our children’s experiences in a globalized world. Parphan Siriviriyakul, CEO, Kaset Thai International Sugar Corporation Co. Ltd. (KTIS Group)
If you pull together as a family, you have more energy to figure out a way forward – like we saw during the financial crisis. Siraarpa Siriviriyakul, former Director, Kaset Thai International Sugar Corporation Co. Ltd
The Next Generation's concerns
said succession planning was their primary concern
felt burdened by their family’s expectations
were most interested in learning about the topics of family governance or family communication
Source: Global Next Generation Report, Results of a 2018 survey of over 200 Next Generation leaders
The opportunities and challenges of family succession in Asia
Watch the interview with Helman Sitohang, CEO Asia Pacific, Credit Suisse
Connecting you to like-minded families
The NextGen Survey shows that wealthy families would prefer their bankers to support
them beyond wealth management, in spheres related to their life goals – such as their
business, their family and their legacy. For a number of years, Credit Suisse has been working together with families in areas like family governance and succession planning. The creation of the Global Next Generation and Families Department in 2018 is an example of how Credit Suisse aims to help the NextGen realize their potential.