Philanthropy being used by families to prepare next-gen wealth transfer, HSBC research shows

News Team, 14/12/2022

Dorothy Chan

For families in Asia and globally, philanthropy has become a tool for preparing the next generation (next-gen) to take over their businesses, a survey by HSBC Global Private Banking showed.

Amongst all respondents, 23 percent of families said the next-gen was actively involved in philanthropy, the third most common role behind the strategy and planning (44 percent) and finance (36 percent) business functions respectiv...

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