The Ernst and Young Family Business Center of Excellence partnered with the HKUST Business School to deliver the NextGen Academy Excellence Program, targeting next generation members of wealthy families worldwide.
Participants came from China and Singapore, and as far away as Peru, Italy, the Netherlands, the UK, France, Finland, Kuwait, and Sri Lanka. They spent two days on the HKUST campus to learn from other prominent family businesses in Asia, on how to lead and manage their family firms.
The leading faculty, Professor Roger King and Professor Winnie Peng of the Tanoto Center for Asian Family Business and Entrepreneurship Studies, shared their research findings and insights on family business and set the groundwork for speaker sessions.
Meanwhile, a number of distinguished speakers made this program very memorable. Dr Hans Michael Jebsen of Jebsen Group shared the key challenges and opportunities of the global trader and the succession plan of his family. Mr Richie Eu of Eu Yan Sang talked about his journey leading new initiatives in his family business. Professor Thaddeus Beczak, Former Deputy Chairman of Shangri-La Asia and the SCMP Group, shared his insights serving as a non-family executive in a Chinese family business. Mr James Chen of Chen Yet-Sen Family Foundation inspired the participants with his “Clearly” initiative hoping to solve eye vision issues around the world.
A panel consisting of Mr Henry Lee of Hendale Group and Mr Benny Wong of Glory United Investment discussed how a family office could serve as glue to keep families together across generations. As a wrap-up, the group worked on a case study on management and ownership succession of a virtual family business to apply what they have learned. The participants found this program very inspirational and rewarding.