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By Andy Halls, Lead Partner, Private Equity Backed Business Programme, Deloitte Private
How will the role of a private equity (PE) backed CFO change over the next 10 years?
That’s the question we asked over 100 CFOs, PE investors, CEOs and Chairs when producing our report into The role of the private equity backed CFO. What we were most surprised by was the overwhelming commonality, consistency and clarity of the key message: significant changes are occurring in the role of the CFO and the pace of this disruption will only accelerate.
By Tom Rees, Head of Business Development, Deloitte Private
Today we live in a disruptive world. We are seeing early-stage or disruptive companies emerging in large numbers across multiple industries, and valuing these businesses is often not as straightforward as it has been in the past for traditional companies.
By Vishwas Khanna, Director, Deloitte
‘Disruptive’ is the most suitable label for the latest cohort of Challenger Banks and other Financial Technology firms in the banking sector which have sprung up over the last few years. This sub-sector of Fintech banks is decidedly new, exhibiting agility and placing innovation at the core of their business, but they are entering a space already laden with relatively stringent rules and regulation.
Deloitte Private recently hosted a breakfast seminar for FDs, Heads of Tax, CFOs, and similar from various Fintech firms in the banking sector to discuss some of the challenges they may face as they continue to consolidate and expand.
Whilst the news cycle in the UK might have been periodically dominated by sunshine and sport over the early summer, the complexity of world relations, the economy and the use of personal data have never been far from the headlines. The scale of data and the technology available to interrogate it is driving many new ways of working and that is equally true in the world of taxation.
Families are usually a complex mix of individuals with different abilities, attitudes, aspirations and financial needs. Each family member is likely to want different things, and in the context of a family owned business, this can produce tension and discord.
Practical steps now to support a strategic approach
It’s a familiar warning: the exponential growth of digital technologies is exposing us all to more and new kinds of risk and we all need to ensure that we protect our assets and reputation from attack.
Many family businesses wrestle with matters of ownership and control – how should the family shareholders control, or influence the running of the business? How do you manage relationships between family members in the context of the business? How can family members ensure appropriate access to information on the business without “interfering” with day to day management?
This week, Michelle Osry, a partner in Deloitte in Canada, suggests two books to add to your holiday reading list, and a TED talk for further inspiration.
What can family enterprises learn from the Dalai Lama? Can conflict be reduced to an equation? How can we find lasting joy in this world?
Talking about money
I was recently working with a family client when the conversation became rather animated while discussing money. Most of the members of this particular family viewed money in a positive light; as a means to an end, the ability to make choices, the ability to make a difference, a medium of exchange etc. However, for some, money might be viewed as the cause of conflict, the ruin of family life, the lure of the forbidden and the priority of their parents.
This week, Eefje Chalmers, a family business advisor with Deloitte Netherlands, considers the potential impacts of using technology on families and their organisations.
The internet is one of the greatest inventions. Few other things have so radically shaped culture, media, commerce, entertainment and communication. But as with many things, these benefits can have a downside, especially where family, wealth and business collide.