{"id":5396,"date":"2022-04-08T12:29:00","date_gmt":"2022-04-08T10:29:00","guid":{"rendered":"https:\/\/www.gxglegal.com\/2022\/04\/08\/retrospective-the-future-of-family-businesses-and-wealth-in-germany-europe\/"},"modified":"2026-08-29T17:01:57","modified_gmt":"2026-08-29T15:01:57","slug":"retrospective-the-future-of-family-businesses-and-wealth-in-germany-europe","status":"publish","type":"post","link":"https:\/\/www.gxglegal.com\/en\/2022\/04\/08\/retrospective-the-future-of-family-businesses-and-wealth-in-germany-europe\/","title":{"rendered":"Retrospective: The Future of Family Businesses and Wealth in Germany &#038; Europe"},"content":{"rendered":"<div class=\"et_pb_section_0 et_pb_section et_section_regular et_flex_section\">\n<div class=\"et_pb_row_0 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_0 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_24_24 et_flex_column_24_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_0 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><div data-breakout=\"normal\">\n<p class=\"-Q4aO hw1z8 hD2az o-zp-\" dir=\"auto\" id=\"viewer-vt8tk4014\"><span class=\"ATqq4 hD2az\"><span>Family businesses are the backbone of the German and European economy. They stand for innovation, tradition, and sustainable growth\u2014and at the same time, they navigate through a host of new challenges: digitalization, ESG, geopolitical risks, and complex succession planning. Together with the <\/span><a target=\"_blank\" href=\"https:\/\/www.bdvb.de\/\" rel=\"noopener noreferrer\" class=\"dtqu- Cnx4-\" data-hook=\"web-link\"><span><u>bdvb \u2013 Federal Association of German Economists<\/u><\/span><\/a><span>\u2014we discussed these topics on April 8, 2022, at Villa Bonn in Frankfurt with guests from business, academia, and consulting.<\/span> <\/span><span class=\"ATqq4 hD2az\"><span><\/span><\/span><\/p>\n<p class=\"-Q4aO hw1z8 hD2az o-zp-\" dir=\"auto\"><span class=\"ATqq4 hD2az\"><span><\/span><\/span><\/p>\n<div data-breakout=\"normal\">\n<p class=\"-Q4aO hw1z8 DcaPr o-zp-\" dir=\"auto\" id=\"viewer-s7gni7402\"><span class=\"ATqq4\"><span>The event brought together insights from academia and practice:<\/span><\/span><\/p>\n<\/div>\n<div type=\"empty-line\" data-hook=\"rcv-block6\"><\/div>\n<div data-breakout=\"normal\">\n<ul class=\"OYFlQ DcaPr\">\n<li dir=\"auto\" aria-level=\"1\" class=\"yOSGR\">\n<p class=\"-Q4aO hw1z8 DcaPr o-zp-\" dir=\"\" id=\"viewer-l1t9d4029\"><span class=\"ATqq4\"><strong><span>Prof. Dr. Nadine Kammerlander (WHU)<\/span><\/strong><span>: <\/span><em><span>Family Businesses \u2013 Engine of Success for the Sustainable Development of Our Economy<\/span><\/em><\/span><\/p>\n<\/li>\n<li dir=\"auto\" aria-level=\"1\" class=\"yOSGR\">\n<p class=\"-Q4aO hw1z8 DcaPr o-zp-\" dir=\"\" id=\"viewer-yxngc4034\"><span class=\"ATqq4\"><strong><span>Dr. Nikita Gontschar (GxG Legal)<\/span><\/strong><span>: <\/span><em><span>Successfully Managing Generational Transitions<\/span><\/em><\/span><\/p>\n<\/li>\n<li dir=\"auto\" aria-level=\"1\" class=\"yOSGR\">\n<p class=\"-Q4aO hw1z8 DcaPr o-zp-\" dir=\"\" id=\"viewer-vieen4039\"><span class=\"ATqq4\"><strong><span>Dr. Stefan Liniger (Kaiser Partner)<\/span><\/strong><span>: <\/span><em><span>Securing and Growing Family Wealth Over the Long Term<\/span><\/em><\/span><\/p>\n<\/li>\n<\/ul>\n<\/div>\n<div data-breakout=\"normal\">\n<p class=\"-Q4aO hw1z8 DcaPr o-zp-\" dir=\"auto\" id=\"viewer-5ibq34059\"><span class=\"ATqq4\"><span>Four guiding questions for entrepreneurial families, family offices, and their advisors emerged from the dialogue:<\/span><\/span><\/p>\n<p class=\"-Q4aO hw1z8 DcaPr o-zp-\" dir=\"auto\"><span class=\"ATqq4\"><span><\/span><\/span><\/p>\n<div data-breakout=\"normal\">\n<p class=\"-Q4aO hw1z8 hD2az o-zp-\" dir=\"auto\" id=\"viewer-62dda8475\"><span class=\"ATqq4 hD2az\"><strong><span>Asset Protection & Portfolio Management:<\/span><\/strong><\/span><\/p>\n<\/div>\n<div type=\"paragraph\" data-hook=\"rcv-block10\"><\/div>\n<div type=\"paragraph\" data-hook=\"rcv-block10\"><\/div>\n<div data-breakout=\"normal\">\n<p class=\"-Q4aO hw1z8 hD2az o-zp-\" dir=\"auto\" id=\"viewer-abkjw4066\"><span class=\"ATqq4 hD2az\"><span>How do we protect family wealth in volatile times\u2014legally, structurally, and in the capital markets? Robust setups separate liability sources (operating vs. holding), maintain liquidity buffers, and align allocations with clear risk budgets rather than intuition. <\/span><\/span><\/p>\n<\/div>\n<div type=\"paragraph\" data-hook=\"rcv-block11\"><\/div>\n<div type=\"empty-line\" data-hook=\"rcv-block12\"><\/div>\n<div data-breakout=\"normal\">\n<p class=\"-Q4aO hw1z8 hD2az o-zp-\" dir=\"auto\" id=\"viewer-t3fbi8592\"><span class=\"ATqq4 hD2az\"><strong><span>Succession & Next Gen:<\/span><\/strong><\/span><\/p>\n<\/div>\n<div type=\"paragraph\" data-hook=\"rcv-block13\"><\/div>\n<div type=\"paragraph\" data-hook=\"rcv-block13\"><\/div>\n<div data-breakout=\"normal\">\n<p class=\"-Q4aO hw1z8 hD2az o-zp-\" dir=\"auto\" id=\"viewer-66gem4071\"><span class=\"ATqq4 hD2az\"><span>Which models work in the long term? Successful succession combines early governance (family constitution, committees, competency profiles) with targeted qualification of the next generation\u2014and realistic timelines. Transitions rarely fail due to legal issues, but more often due to expectations, roles, and communication.  <\/span><\/span><\/p>\n<\/div>\n<div type=\"paragraph\" data-hook=\"rcv-block14\"><\/div>\n<div type=\"empty-line\" data-hook=\"rcv-block15\"><\/div>\n<div data-breakout=\"normal\">\n<p class=\"-Q4aO hw1z8 hD2az o-zp-\" dir=\"auto\" id=\"viewer-jv6p68709\"><span class=\"ATqq4 hD2az\"><strong><span>ESG & Responsible Investing:<\/span><\/strong><\/span><\/p>\n<\/div>\n<div type=\"paragraph\" data-hook=\"rcv-block16\"><\/div>\n<div type=\"paragraph\" data-hook=\"rcv-block16\"><\/div>\n<div data-breakout=\"normal\">\n<p class=\"-Q4aO hw1z8 hD2az o-zp-\" dir=\"auto\" id=\"viewer-dukr04076\"><span class=\"ATqq4 hD2az\"><span>ESG is not a \"nice to have,\" but directly impacts reputation, financing costs, and deal access. Critical is the translation of objectives into <\/span><strong><span>measurable metrics<\/span><\/strong><span> (e.g., CO\u2082 intensity per revenue, supply chain KPIs) and into investment guidelines that anticipate rating\/regulatory risks without stifling opportunities.<\/span><\/span><\/p>\n<\/div>\n<div type=\"paragraph\" data-hook=\"rcv-block17\"><\/div>\n<div type=\"empty-line\" data-hook=\"rcv-block18\"><\/div>\n<div data-breakout=\"normal\">\n<p class=\"-Q4aO hw1z8 hD2az o-zp-\" dir=\"auto\" id=\"viewer-64h1g8828\"><span class=\"ATqq4 hD2az\"><strong><span>Family Offices & Internationalization:<\/span><\/strong><\/span><\/p>\n<\/div>\n<div type=\"paragraph\" data-hook=\"rcv-block19\"><\/div>\n<div type=\"paragraph\" data-hook=\"rcv-block19\"><\/div>\n<div data-breakout=\"normal\">\n<p class=\"-Q4aO hw1z8 hD2az o-zp-\" dir=\"auto\" id=\"viewer-jduqf4083\"><span class=\"ATqq4 hD2az\"><span>With growing complexity, the demands on deal sourcing, manager selection, and governance increase. Trending topics: club deals with co-investors, thematic satellite mandates (e.g., infrastructure, private credit), and structures that cleanly resolve cross-border <\/span><strong><span>tax, regulatory, and liability issues<\/span><\/strong><span>.<\/span><\/span><\/p>\n<\/div>\n<div type=\"paragraph\" data-hook=\"rcv-block20\"><\/div>\n<div type=\"paragraph\" data-hook=\"rcv-block20\"><\/div>\n<div type=\"empty-line\" data-hook=\"rcv-block21\"><\/div>\n<div data-breakout=\"normal\">\n<p class=\"-Q4aO hw1z8 hD2az o-zp-\" dir=\"auto\" id=\"viewer-0hk2l4091\"><span class=\"ATqq4 hD2az\"><span>The presentations made clear that successful family businesses thrive primarily on clear <\/span><strong><span>governance<\/span><\/strong><span>: orderly succession, transparent decision-making processes, and early involvement of the next generation. Only in this way can conflicts be avoided and wealth secured over the long term. At the same time, the <\/span><strong><span>resilience of the portfolio<\/span><\/strong><span> is gaining importance\u2014through clean separation of liability sources, clear risk budgets, and diversification. ESG criteria are no longer an \"add-on,\" but directly influence financing, reputation, and investment access.<\/span><\/span><\/p>\n<\/div>\n<div type=\"paragraph\" data-hook=\"rcv-block22\"><\/div>\n<div type=\"paragraph\" data-hook=\"rcv-block22\"><\/div>\n<div data-breakout=\"normal\">\n<div class=\"-Q4aO hw1z8 DcaPr o-zp-\" dir=\"auto\" id=\"viewer-jai4c6249\"><\/div>\n<\/div>\n<div data-breakout=\"normal\">\n<p class=\"-Q4aO hw1z8 hD2az o-zp-\" dir=\"auto\" id=\"viewer-hf8d76250\"><span class=\"ATqq4 hD2az\"><span>The central conclusion: Those seeking to preserve family wealth for future generations require an interplay of legally stable structures, professional portfolio management, and an open family culture. Sustainability, internationalization, and the qualification of the next generation are the key factors for future viability. <\/span><\/span><\/p>\n<p class=\"-Q4aO hw1z8 hD2az o-zp-\" dir=\"auto\"><span class=\"ATqq4 hD2az\"><span><\/span><\/span><\/p>\n<div data-breakout=\"normal\">\n<p class=\"-Q4aO hw1z8 DcaPr o-zp-\" dir=\"auto\" id=\"viewer-qdws24134\"><span class=\"ATqq4\"><span>Links: <\/span><\/span><a target=\"_blank\" href=\"https:\/\/www.bdvb.de\/eventkalender\/die-zukunft-von-familienunternehmen-und-vermoegen-in-deutschland-und-europa\/\" rel=\"noopener noreferrer\" class=\"dtqu- Cnx4-\" data-hook=\"web-link\"><u>Event Page<\/u><\/a>     <a target=\"_blank\" href=\"https:\/\/www.bdvb.de\/news\/14-04-2022-bdvb-veranstaltung-zur-zukunft-vom-familienunternehmen\/\" rel=\"noopener noreferrer\" class=\"dtqu- Cnx4-\" data-hook=\"web-link\"><u>Video Impressions<\/u><\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n<div class=\"et_pb_code_0 et_pb_code et_pb_module\"><div class=\"et_pb_code_inner\"><link rel=\"stylesheet\" href=\"https:\/\/cdn.jsdelivr.net\/npm\/swiper@12\/swiper-bundle.min.css\">\n\n<div class=\"swiper main-slider\">\n  <div class=\"swiper-wrapper\">\n    <div class=\"swiper-slide\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2022\/04\/5d9e33_5fa8c3bdd1f84b4fa0734273295d29fcmv2.png\" alt=\"Image 1\"><\/div>\n    <div class=\"swiper-slide\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2022\/04\/5d9e33_4f4386ee6473460799f0f5365765585emv2.png\" alt=\"Image 2\"><\/div>\n    <div class=\"swiper-slide\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2022\/04\/5d9e33_e6e6dd3fb2c944b59515c46a3c4419b4mv2.png\" alt=\"Image 3\"><\/div>\n    <div class=\"swiper-slide\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2022\/04\/5d9e33_c0de9390702b4b8b91214d1a24cceb1amv2.png\" alt=\"Image 4\"><\/div>\n    <div class=\"swiper-slide\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2022\/04\/5d9e33_e547b1b8a99c4320b91a73fe5cc32f2fmv2.png\" alt=\"Image 5\"><\/div>\n  <\/div>\n  <div class=\"swiper-button-next\"><\/div>\n  <div class=\"swiper-button-prev\"><\/div>\n<\/div>\n\n<div class=\"swiper thumbnail-slider\">\n  <div class=\"swiper-wrapper\">\n    <div class=\"swiper-slide\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2022\/04\/5d9e33_5fa8c3bdd1f84b4fa0734273295d29fcmv2.png\" alt=\"Thumb 1\"><\/div>\n    <div class=\"swiper-slide\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2022\/04\/5d9e33_4f4386ee6473460799f0f5365765585emv2.png\" alt=\"Thumb 2\"><\/div>\n    <div class=\"swiper-slide\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2022\/04\/5d9e33_e6e6dd3fb2c944b59515c46a3c4419b4mv2.png\" alt=\"Thumb 3\"><\/div>\n    <div class=\"swiper-slide\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2022\/04\/5d9e33_c0de9390702b4b8b91214d1a24cceb1amv2.png\" alt=\"Thumb 4\"><\/div>\n    <div class=\"swiper-slide\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2022\/04\/5d9e33_e547b1b8a99c4320b91a73fe5cc32f2fmv2.png\" alt=\"Thumb 5\"><\/div>\n  <\/div>\n<\/div>\n\n<script type=\"module\">\n  import Swiper from 'https:\/\/cdn.jsdelivr.net\/npm\/swiper@12\/swiper-bundle.min.mjs';\n\t\/\/ 1. 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Sustainability, internationalization, and the qualification of the next generation are the key factors for future viability. <\/p>\n","protected":false},"author":2,"featured_media":5397,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970],"tags":[1121,1122,1128,1119,1102,1117,940,1113,907,1112,1127,1126,1120,1129,1118,1030,1101,1124,1123,1114,1115,994,1130,1116,1111,1125],"class_list":["post-5396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights-events","tag-asset-management","tag-asset-protection","tag-bdvb","tag-digitalisation","tag-entrepreneurial-families","tag-esg","tag-esg-criteria","tag-family-businesses","tag-family-offices","tag-family-business","tag-family-office-2","tag-federal-association-of-german-economists","tag-future","tag-geopolitical-risks","tag-gxg-legal","tag-innovation","tag-investing","tag-next-generation","tag-portfolio-management","tag-succession-issues","tag-succession-planning","tag-succession-planning-2","tag-sustainable-growth","tag-tradition","tag-wealth-planning"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Retrospective: The Future of Family Businesses and Wealth in Germany &amp; Europe - GxG Legal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gxglegal.com\/en\/2022\/04\/08\/retrospective-the-future-of-family-businesses-and-wealth-in-germany-europe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Retrospective: The Future of Family Businesses and Wealth in Germany &amp; Europe - GxG Legal\" \/>\n<meta property=\"og:description\" content=\"Those seeking to preserve family wealth for future generations require an interplay of legally stable structures, professional portfolio management, and an open family culture. 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