Look after your family wealth Global Next Generation Initiative
The Power of the Next Generation
In the next few decades, it is estimated that over USD 40 trillion of wealth will transfer to the next generation. This next generation, on the brink of moving into the driver’s seat of their inheritance, is seeking more than an old-school banking relationship. This is especially true after the global financial crisis in 2008, which strained the relationship between banks and their clients.
“Constant global connectivity, instant digital information and widespread artificial intelligence (AI) will be a reality in all aspects of life for digital natives in the future. The world of wealth management, however, must recognize that it has to follow another path, a more human-driven one, a more personal and emotional one, especially for the top segment of the wealth pyramid and in particular for their heirs,” says Viola Steinhoff Werner, Head of Credit Suisse's newly launched Global Next Generation and Families department.
Next Generation at the World Economic Forum 2019
What does the next generation of entrepreneurs, top managers of established multi-national businesses, investment professionals and global philanthropists have in common? The mission to change the world.
Watch here the interview with Tandean Rustandy, Founder and CEO of PT Arwana Citramulia, Febyan Rustandy, Head Marketing of PT Arwana Citramulia and Iqbal Khan, CEO of International Wealth Management at Credit Suisse. The discussion was moderated by Viola Steinhoff Werner during the WEF 2019 in Davos where Credit Suisse hosted an event together with the Young Investors Organization.
Money and its soft facts. Ensuring harmonious succession in families.
Viola Steinhoff Werner, Head of the Global Next Generation and Families department, and Wolfgang Jenewein, Professor for Business Administration at the University of St. Gallen (HSG), explain the opportunities and soft facts which come with inheriting and how the Young Investor Program (YIP) aids them to cope with this dilemma and to achieve a winning cross-generational succession.
Young Investor Program (YIP)
The Young Investor Program program aims to provide a foundation of knowledge and understanding of the financial markets and to give a thorough grounding in the key concepts of wealth management. It also aims to help next generation members who are about to assume an important investment responsibility to understand how these concepts are best applied in a practical situation. Teaching techniques are varied; they consist of a combination of lectures, discussions, group exercises and case studies, and an investment game. The course covers various asset classes and investment decisions.
The Family Ties Program is a unique educational program that provides the latest insights from leaders in the financial services industry on managing wealth within a family business. It provides a foundation of knowledge and understanding of the financial markets and educates participants in key wealth management concepts. The program is designed and continuously adjusted to help individuals who will assume an important investment responsibility in the near future. Our goal is to help you understand best practices of wealth management and effectively face any challenges you may encounter.
Next Generation Network
Young Investor Organization (YIO)
Established in 2007, Credit Suisse is the main sponsor of the YIO. The organization comprises a global community of future leaders from influential families, who are committed to leaving their mark and making a difference in the world. During regular regional, local and global reunions, members collectively drive social impact, create and manage their businesses, as well as enter into joint investments with each other.
The Voice of the Next Generation
Impact Investing: Building Bridges across Generations
A major factor that unites the Next Generation and differentiates them from previous generations is a sense of global connectivity combined with a feeling of collective responsibility for the well-being of the world. In terms of investments, this distinct millennial philosophy means that they do not just care about financial returns. Iqbal Khan, CEO International Wealth Management, 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 discuss the impact that Millennials want to see in their investments.