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by Sara Webb
Succession planning for Asia’s geriatric tycoons has become a hot topic. The restructurings or reorganizations of family businesses, particularly as elderly patriarchs or matriarchs prepare to hand over to the next generation, present a potential fee bonanza for squadrons of bankers, lawyers and other advisers, thanks to M&A, IPOs and divestments.
Family-owned empires have led Asia’s economic development, accumulating a staggering amount of wealth in the process. South Korea’s chaebol, or family-led conglomerates, steered the creation of the country’s important manufacturing sector, while the Chinese diaspora, fleeing famine or political turmoil in mainland China, built up large trading, commodity, manufacturing, property and banking businesses in Taiwan, Hong Kong and across southeast Asia.
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