BNP Paribas Wealth Management publishes an exclusive report with the SDA Bocconi School of Management, to deep dive into new issues and trends of family business governance in Europe.
In Europe, family firms make up the vast majority of business organisations in European countries, ranging from 61% of the businesses in the Netherlands to more than 80% in Spain, Italy and France. As such, they are a major driver of economic growth, employment, and social development. With the contribution of leading families and entrepreneurs across Europe, this report highlights the distinctive expectations of entrepreneurial families, to guide their managers and advisors in the way they address family governance, a key component of long-term success of family businesses.
“Family firms are the backbone of our European economy. They have proven their resilience and major role in our communities, deploying capital over the long run, and integrating sustainable practices in their daily operations.” commented Pierre Ramadier, Global Head of Entrepreneurs & Families coverage, BNP Paribas Wealth Management. “In light of a more complex and uncertain environment, a well-structured family governance is fundamental for long-term success of family firms. They count on us to accompany them in adopting a distinctive approach to governance suited to their family values, purpose, and business model.”
"Family firms play a significant role in the Italian economy. They are strongly rooted in the territories in which they operate and represent the excellence of Made in Italy both nationally and abroad. In several cases, family members are directly involved in business decisions, in others the top figures are external managers and, therefore, every company needs specialized and customized financial solutions” commented Luca Bonansea, Head of BNL-BNP Paribas Private Banking and Wealth Management. "Thanks to our business model, which integrates all the entities of the BNP Paribas Group into a global approach to customer needs, we support families and businesses in preserving, developing and giving continuity to their corporate assets, with a careful look at innovation, sustainability and new generations".