KPMG Launches Global Centre Of Excellence
KPMG International has set up a Global Centre of Excellence dedicated to family business and to support them in their challenges and specific needs.
“KPMG is proud to announce a new collaboration with Young Presidents’ Organization (YPO) that provides all members of YPO’s Global Family Business Network (GFBN) with exclusive access to knowledge on family businesses”, a spokesperson said.
“Family-owned companies have specific needs. To support them in their challenges, KPMG International has set up a Global Centre of Excellence dedicated to family business. This initiative offers greater access to knowledge and expertise available across the global network of family-owned companies.”
“Our collaboration with KPMG helps us further our mission of strengthening families, businesses and legacies by connecting members to one another and to the best resources in the world,” says GFBN Director Vicki Novikoff Barnhart.
KPMG’s Centre of Excellence for Family Business takes the form of a dedicated team based in Paris and a combination of practitioners from KPMG member firms and independent experts such as Christine Blondel (Senior Advisor to KPMG on Family Business Intelligence), an adjunct professor of Entrepreneurship and Family Enterprise at the Wendel International Centre for Family Enterprise at INSEAD.
KPMG’s Centre of Excellence provides insights on seven key issues of family business, that KPMG calls the Family Business Rainbow:
- growth,
- governance,
- assurance,
- exit strategies,
- wealth preservation,
- philanthropy,
- succession and next generation.
“KPMG’s Family Business approach utilizes the best combination of these seven needs. By sharing family business best practices and know-how, KPMG professionals will contribute to and increase knowledge of family businesses”, the spokesperson continued.
Publications, articles, surveys and opinions are already available on the blog www.kpmgfamilybusiness.com. Updated on a daily basis, the blog is available in more than 30 countries.
“The combination of family business best practices from KPMG’s practitioners and the knowledge of external experts will create useful information,” says Steve Woodward, Managing Director of KPMG in Bermuda and who is a member of the Global Steering Committee of the Centre of Excellence.
“The business insights generated from the Centre of Excellence will be especially valuable to clients around the world.”
The Sages Family: a Case Study
In order to learn more about typical family business issues, KPMG created a family business story: the Sages family case studies, which follow a fictional family through the entrepreneurial success of a little grocery shop created in the 1950s that has become a significant retail group.
“Through this story, we can discover various challenges family members face: ownership succession, governance and family constitu¬tion, growth financing, international expan¬sion, wealth management and philanthropy, shareholders’ agreement and more.
“Each case study is published on www.kpmgfamilybusiness.com and comes with an analysis of the situation and key learning points. Watch the trailer of the Sages Family on story.kpmgfamilybusiness.com”, the spokesperson concluded.
