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The CUHK Centre for Family Business (CFB) has recently received a generous donation of $1.25 million from the NxGen Visionaries and the Family Office Association Hong Kong (FOAHK), to support the development of best practice frameworks for Asian family businesses and office, and to action research more diversified and thriving family office ecosystem in Hong Kong, especially with an outlook towards multi-family offices.
This donation will be used as an early stage development of the upcoming rigorous and prestigious Family-in-Business Award and research around the development of Multi-Family Offices in Hong Kong.
Establishing Family-in-Business Award
“One of the key initiatives for us will be the establishment of The Family-in-Business Award, which aims to inspire and showcase exemplary practices within the family business community,” explained Marshall Jen, the Executive Director of CUHK CFB emphasized. “This rigorous process will bridge between academia and practitioners, fostering collaboration and knowledge sharing”
The award received the full support of The Hong Kong Academy for Wealth Legacy (HKAWL) as well. “By lending our support to the esteem institutes like CUHK Centre for Family Business, in its pursuit to elevate thought leadership and encourage best practices for families, family businesses, and family offices, we can collectively advance the knowledge and expertise to our field, benefiting families and industry professionals alike.” Said Angel Chia, the Executive Director of HKAWL.
Leveraging Hong Kong’s strategic position
It does not make sense to not talk about Multi-Family Office in Hong Kong as it may provide a much greater economic impact. The Centre will also develop a Multi-family Office White Paper as their priority research work, which acts as a comprehensive guidebook to provide a clear taxonomy of this fast-evolving industry and inspire the roadmap of further transformation to the related business.
