Event Details

ENST is delighted to welcome Patrik Hayoz to present at our seminar series. Patick is a final year part-time PhD student supervised by Bingbing Ge and Alfredo De Massis. He is based in Lima, Peru and looking at Family Offices and Philanthropy.

Based on the practice of philanthropy, which is suggested to contribute to a successful transgenerational wealth transfer, the research work intends to understand how family offices (FOs) support wealthy families in striving for the longevity of their legacy. Firstly, a systematic literature review on FOs, the first one of its kind to the best of the author’s knowledge, was conducted to appreciate how research has evolved and what has been learnt about them. Secondly, a single-case study with six family members representing two generations was performed to analyse the approach of a family with substantial wealth towards philanthropy. The main findings show that the approach consists of four phases, which are suggested to be seen in a sequential order and form part of a revolving circle through which each following generation is passing. Thirdly, the findings of a multi-case study on the approach towards philanthropy of three families and the support from their single-FOs, resulted in four theoretical contributions: i) a framework that the FO is encouraged to follow to accompany the family in its engagement in philanthropy and more broadly, the efforts to perpetuate its legacy, ii) while guiding the members of the next generations towards first commitment and then, engagement, the FO needs to recalibrate its support taking account of their refocusing in terms of priorities and expectations, iii) the FO has the ability to strengthen the stewardship behaviour of the family, and iv) pointing at continuity, the FO needs to promote renewal, while preserving core traditions.