Dubai PR Network, Online Press Release from Dubai and Middle East
 
Money, Business & Investments(Banking & Investments)
Filter PR by
  
The Pearl Initiative, BNY Mellon Announce Partnership to Advance Best Governance among Family Businesses in GCC Region
 

Dubai-UAE: 1 March, 2017:  The Pearl Initiative, the leading Gulf business-led non-profit organisation promoting a corporate culture of accountability and transparency as a key driver of competitiveness across the region, today announced that it has joined hands with BNY Mellon Wealth Management, to advance best practices among the region’s family-run businesses.

A leading wealth manager with more than two centuries of experience, BNY Mellon Wealth Management offers its range of services to clients that include multigenerational business owners, high net worth individuals and families running their own businesses, among others.

Carla Koffel, Executive Director, the Pearl Initiative said: “Family-run businesses are key contributors to the region’s GDP. Given that over 80 per cent of the business in the GCC region are family-owned, and at a critical stage of transition from the second to third generation of ownership, it is essential that they have a strong operational framework to protect their assets. We are confident that our growing network of private sector partners within the region will significantly benefit from BNY Mellon’s expertise in family-office wealth management.”

Given that assets valued at US$1 trillion are expected to pass from one generation to the next in the GCC region alone within the next five to 10 years, a robust governance framework is critical to ensuring transparent resource allocation whilst remaining accountable to shareholders, consumers and employees.

Commenting on this collaboration, Giambattista Atzeni, Senior Wealth Director at BNY Mellon Wealth Management, said: “We are joining forces with the Pearl Initiative because we see many parallels between corporate governance and family governance. Both involve sharing a common vision and creating effective decision-making structures and processes. Our focus will be on reinforcing the link between a family’s sense of identity and values on the one hand and a successful multigenerational family business on the other.”

BNY Mellon has extensive know-how on providing effective solutions in wealth management and has received several global awards for its commitment to client service and world-class wealth planning capabilities. Besides offering family office clients comprehensive wealth and investment planning advice, the firm also adds value with its deep experience and insights on best practices in family governance. BNY Mellon helps families improve their communication skills with an eye on strengthening their shared sense of purpose and underpinning the values that will help them retain their wealth across generations.

The Pearl Initiative was founded in 2010, primarily to promote corporate governance and accountability across the large number of regional family-run businesses. Since then, it has evolved to address a variety of issues that affect business sustainability and competitiveness such as diversity in leadership, integrity in the supply chain, governance in SMEs and ethical reporting. The organisation does this through various engagement channels including reports, surveys and case studies, roundtables and industry forums and key partnerships. 


Posted by : Dubai PR Network Editorial Team
Viewed 7778 times
PR Category : Banking & Investments
Posted on : Wednesday, March 1, 2017  3:10:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Dabur International wins at Ras Al Khaimah Free Zones Busine...
Next Story : For third consecutive year, Empower is awarded Dubai Chamber...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Marchon Eyewear Summer 2018 Collections [9522-Views]
du Distributes Eid Gifts at Al Jalila Children's Hospital [9211-Views]
Al-Futtaim ACE celebrates Eid with exciting offers and activities [8589-Views]
24 hour Mega Sale at Dalma Mall! [8351-Views]
Filorga introduces two new additions to its UV-BRONZE range offering a comprehensive range... [7729-Views]
Purify Your Skin with Skin Republic [7534-Views]
A Sparkling Gift Guide for Eid al-Fitr by Mouawad [6930-Views]
Al Ghandi Auto brings the most Affordable Electric Vehicle - Chevrolet Bolt EV - to the UA... [6112-Views]
Rapid renewal of smartphone portfolio brings next generation Nokia 5 and Nokia 3 to fans ... [5704-Views]
Captivate Your Senses with Marks & Spencer's Exclusive Oud Collection [5490-Views]
Stylish men's watch - BU4018-11H - with rose gold case and black dial is a real beauty [5423-Views]
Splash's ‘Life After Fashion' Campaign Breathes New Life into Old Garments [5398-Views]
Hamdan Bin Mohammed Heritage Center distributes Eidia on first day of Eid [5356-Views]
Crowe Horwath announces global rebrand to “Crowe” Sometimes a smart decision is a simple... [5350-Views]
iVOOMi Smartphones Enter the UAE Market Exclusively on SOUQ.com [5313-Views]
New open-air member of the AMG GT family [5295-Views]
The Summer Just Got Sweeter with the New Palm Candy Collection from Max [5264-Views]
Abu Dhabi Treats Eid Al Fitr Visitors to Shopping Bonanza with 90% Discounts Across 15 Sel... [5209-Views]
All Abroad… Mobile Cinema Bus presented by Pert Plus [5148-Views]
Tissot Chrono XL Tour de France Special Edition Cycling just got big [4892-Views]
Skydance: The Sun – shining amid the immensity of the galaxy [4801-Views]
Hair Rituel by Sisley Now available at Paris Gallery [4752-Views]
Great Moments Manero Flyback accompanies Swiss National Soccer Team To Russia [4673-Views]
The Lacoste Moon Collection [4648-Views]
Boss watches presents Master Collection [4630-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories