LONDON--(BUSINESS WIRE)--Agreus Group and KPMG Private Enterprise launched the 2023 Global Family Office Compensation Benchmark Report based on responses from more than 650 Family Office professionals worldwide. The report presents an optimistic economic outlook for Family Offices based on data, opinions, and insights collated from over 1,500 Family Offices including qualitative interviews with Family Office Chief Executives from each continent – the one of the largest global Family Office data sets.
The report benchmarks salaries, career history, global Family Office demographics and shares key insights on emerging industry trends. Analysis is provided on succession planning, social mobility, and wealth transfers, as well as exploring continental variances in governance structures, Assets Under Management, the asset classes they favor, and how compensation aligns with both.
Agreus Co-Founder Paul Westall said: “This report is underpinned by more than 13 years of primary data and curated using more than 650 responses from Family Office professionals. Our collective work can be considered both a research tool and precedent - a benchmark with which Family Offices can standardise their compensation. Our study confirms an extremely positive economic outlook for family offices despite recent global unrest and economic upheaval: a theme consistently shared by all respondents.”
The analysis confirms Family Offices have become accustomed to operating in uncertain times, with contingency strategies to combat market shifts commonplace.
Fellow Agreus Co-Founder Tayyab Mohamed added: “Family Offices are and will always be incredibly unique entities and they clearly display a framework for organizational success. The analysis on hand offers an inside look at an industry that is bucking global trends, continuing to thrive in what for many has become a slower economic time, with lessons applicable for all businesses.”
The study shares a positive outlook on a growing sector where the war for talent will undoubtedly increase.
Greg Limb Global Head of Family Office and Private Client, KPMG International explained that “The data confirms that irrespective of location, Family Offices are thriving with growth in terms of numbers and size, all of which shows no signs of abating. This means the demand for staff within this sector will continue to make it an attractive and stable place for people to work and carve out their career.”
Download a copy of the report here.
Notes to the Editor:
- 625 Family Office professionals partook in an online survey distributed by Agreus Group and KPMG Private Enterprise between October 2022 and February 2023.
- A further 25 Family Office Chief Executive Officers, Managing Directors and Leaders took part in qualitative interviews, some of which feature in full-length in the report.
- This data was also referenced against primary data that Agreus has on an internal database, collected over a 13-year period. This includes over 1,500 Family Offices globally, 3,360 Family Office contacts (clients) and more than 7,800 registered Family Office candidates.
- Family Office professionals across each continent were surveyed as part of this report. 42% of participants answered from North and Central America, 29% from Europe, 10% from Australia, 9% from Asia and 7% from the Middle East. The remaining 3% of respondents answered from Africa, the Caribbean, and South America.
Agreus Group is the only recruitment consultancy to work exclusively with Family Offices. We have an impressive track-record spanning 12 years and over a dozen countries. We bring over a decade of primary data and intelligence within the Family Office Space, an authoritative voice as a Family Office Thought-Leader, a comprehensive ecosystem of candidates, advisors, and followers and above all, an expertise in Family office Recruitment. We are a trusted voice in the community and trusted by thousands of Family Office professionals around the world.
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