Major Italian National newspaper La Repubblica quotes Marcus Yorke-Long on succession in family businesses
Knight Frank's latest Wealth Report - The Wealth Report 2025 - was recently published, and provides a definitive analysis of private wealth and global investment trends.
The report "examines the evolving behaviours of private investors and family offices, providing in-depth insights into both commercial and residential real estate. It also explores the performance of luxury assets, emerging ESG investment opportunities, and specialist markets such as vineyard investments."
Marcus Yorke-Long, Head of Private Office, is quoted in the report and gives his insights into the topic of succession, especially as it applies to family businesses and the first generation original generators of wealth. Marcus's comments were also printed in an article by La Repubblica, the major Italian national newspaper. Marcus explains:
These first-generation types have been successful because they’ve made strong and successful decisions themselves [...] It takes quite a long time to generate that willingness to award mandates to third parties.
The article goes on to note that, despite this, a handover seems to be gradually underway. Of the 150 family offices surveyed by Knight Frank for the report, 58 per cent said that the next generation is already involved in investment decision-making. Almost 40 per cent said there had subsequently been a change in the investing strategy. Some 11 per cent said the strategy had “shifted significantly”.
Read the full article in La Repubblica here.
