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Succession planning key as family struggles come to light, say HSBC Private Bank

As well-documented debacles of family-owned corporations increase in Asia, the need to focus on succession planning strategies is imperative, says HSBC Private Bank. “Wealth tends to erode after the third generation,” says Bernard Rennell, the bank’s regional head of global private banking for Asia-Pacific, in a podcast. Rennel is also the bank’s global head of family governance and family enterprise…

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