Chapter 534【Guangyao Family Office】

  In May, a Boeing 737 business jet crossed the sky, leaving a trace;

  From Hong Kong, head to the United States.

  Wu Guangyao went to the United States this time, in addition to some activities, mainly to apply for some top talents to formalize and scale his family office!

  So far, there are two types of family offices in the world:

  Single-family office (SFO), SFO is a family office exclusively for ultra-high-net-worth families, responsible for only one family, and the cost is relatively high;

  Multiple family offices (MFO), MFO is responsible for the wealth management of multiple families, mostly commercial banks, trust banks, and family offices, mainly focusing on the appreciation of wealth.

  The family office to be established by Wu Guangyao is naturally an SFO, and it is an all-round management SFO. It is expected to recruit 100 to 200 senior talents in the world;

  Family offices of this level are one of the few in the world!

  Wu Guangyao named this family office ‘Guangyao Family Office’, and the top authority of ‘Guangyao Family Office’ is the ‘family council’;

Because Wu Guangyao has seven “wives” in the strict sense, and these seven wives gave birth to 19 children for Wu Guangyao. Only the second generation has so many family members, so the third and fourth generations With the emergence of generations, family members may rise to hundreds or even hundreds;

  It is obviously impossible for all these family members to work in the family business or family office;

  This will cause serious asymmetry in the information between family members, and coordination will become more difficult;

   Then it is very necessary to establish a family council. The family council can represent the family’s interests, the governance body that handles family affairs, and the formal communication platform for family shareholders. It is also the family’s highest decision-making and power organization.

  At the same time, the ‘family council’ also supervises and audits the existence of the family office.

  The ‘family council’ is the board of directors of the ‘family office’, and under the ‘family council’ is the CEO of the ‘family office’.

  The CEO of Guangyao Family Office was naturally subject to some restrictions in the "Wu Guangyao era" (can be dismissed at will);

  But once Wu Guangyao dies, the power of this CEO will be infinitely magnified;

  Basically all members of the family council need to work together to contain the CEO;

  The purpose of doing this is naturally very simple. Wu Guangyao is worried that some of his unscrupulous children and grandchildren will lose all his family property.

  The CEO of Guangyao Family Office is divided into six major departments: investment management, estate planning, tax planning, trust services, family governance, and administrative services.

  The responsibilities of the investment management department are: investment projects, asset allocation, manager selection, investment performance monitoring.

  The responsibilities of the estate planning section are: trust management, formulating trust plans, fund management, and physical asset management.

  The duties of the tax planning department are: formulating tax plans, coordinating tax documents, and avoiding tax reasonably.

  The responsibilities of the trust service department are: Acting for legal person trustees and personal trustees to support

  The responsibilities of the family governance department are: wealth vision and goals, planning education plans for family members, family meetings, and charity planning.

  The responsibilities of the administrative service department are: legal issues, travel plans, shopping plans, butler services, document management, transfer payments, cash flow and budget management, and risk management.

  After the establishment of the Guangyao Family Office, all family members will be exposed to others while uniting;

  Of course, it is also necessary for the management and resources of the family office to sign a confidentiality agreement.

  Although it has been exposed, the Wu family will not go against the country or control the sovereign country, so there is no need to worry!

  Members of the first board of directors of the Guangyao Family Office, currently Wu Guangyao has decided on 11:

Wu Guangyao, Lin Yueru, Li Cui, Kaila, Kusano Keka, Haruko, Mrs. Sutton, Chris, Wu Xianshuo (Lin Yueru's line), Wu Xianlei (Kayla's line), Wu Xianying (Huixiang's line) ).

  Tentatively appoint 11 members of the board of directors, and they will be added to the board of directors after the sons of Li Cui, Haruko, Mrs. Sarton, and Chris have reached the age of 20;

  Except for Wu Guangyao’s seven wives, Wu Guangyao has set a rule that the wives and daughters of future generations cannot be considered for joining the board of directors.

  Wu Guangyao will not inject all assets and company shares into the family office, but will only selectively inject some assets and shares into the family office;

  15% of the shares of Metro Group, shares of the British North Sea Oilfield, Starlight Hotel, Tiger Fund's US stocks (currently appreciated to more than 2.5 billion US dollars), these four funds and shares will be injected into the family office first;

  Funds and shares may be injected in the future, but it should not be too much;

  After all, family offices can only guarantee that their children and grandchildren will become rich, but they cannot guarantee that they will become rich.

  So, Wu Guangyao will adopt the two methods of family business inheritance and family office to ensure the longevity of his family!

The so-called family business inheritance means that when Wu Guangyao is alive, he will support his son or grandson to inherit his own company and company shares; if he has not allocated the company in his lifetime, and has not established a survivor, then the unallocated company and The shares will automatically be transferred to the family office.

  Thinking about the family, completely forgetting the Yingying Yanyan on his plane;

  Zhao Yazhi felt that the man in front of him was absent-minded, and couldn’t help but get nervous. I heard that the freshness of the rich is always there.

  Is it possible that this man is tired of himself?

  So, Zhao Yazhi, who was not convinced, sat in Wu Guangyao's arms in front of several flight attendants.

   "What are you thinking about?"

Wu Guangyao's thoughts were forcibly pulled back, looking at Zhao Yazhi who was still in his arms, he smiled and joked: "What can be thought of is naturally a matter of work! You are brave today, then there is a stewardess. The reason for sitting in the arms of passengers?"

  Zhao Yazhi's face blushed, she quickly got up, tidyed up her skirt, and looked at Zhang Xiaoxia with embarrassment!

  It is true that Wu Guangyao still attaches great importance to his manners. Generally, when he leaves the bedroom, although he and Zhao Yazhi are affectionate, they are only at courtesy and do not have affectionate actions.

   However, since the beauties are so active, Wu Guangyao is not afraid of the remaining five stewardess gossiping;

  So, Wu Guangyao took Zhao Yazhi into his arms again.

   "Since you have taken the initiative, take the initiative to the end! Don't look at them, if they dare to gossiping, I will deduct their wages!"

  Zhang Xiaoxia said with a smile: “We have all undergone strict training and signed a confidentiality agreement. The boss can rest assured that we will not disclose anything to the outside world.”

Wu Guangyao hugged Zhao Yazhi, put his right hand on Zhao Yazhi’s thigh, and while pinching the black stockings on Zhao Yazhi’s thigh, pulling it up and putting it down, he joked: "In case you and your boyfriend are dreaming, you will tell me How to do?"

   "We have no boyfriends!" the five flight attendants said in unison.

  Wu Guangyao was stunned, there is such a coincidence?

  Zhang Xiaoxia explained: “We not only signed a non-disclosure agreement, but also stipulated that we cannot make boyfriends while serving as your exclusive stewardess. Once we have a boyfriend, we must actively apply for a job transfer and go on a passenger plane.”

  Island Airlines management on this dog day, what kind of nasty ideas, if it is leaked out, what should Hong Kong Islanders think of themselves!

   However, in general, this rule seems to be more popular with me!

  Wu Guangyao said with a smile: "Can't that delay your talk about boyfriends?"

  Zhang Xiaoxia said without hesitation: “Let’s not talk about boyfriends. The salary and bonus you give here are so high, of course we have to make more money!”

  After that, Zhang Xiaoxia's eyes seemed to give a hint!

  Los Angeles, Korn Ferry International Headquarters.

The arrival of Wu Guangyao and his entourage was warmly welcomed by Lester and Ricard, the founders of Korn Ferry International.

  As a shareholder of Korn Ferry International, Wu Guangyao is very popular with the two founders;

  After all, Wu Guangyao not only does not interfere with the development of Korn Ferry International, but also brings a lot of business to the company;

  Of course, Korn Ferry International is also rewarding Wu Guangyao with a lot of talents.

  This time, half of the staff in the family office will be Korn Ferry’s human resources, and the other half will be selected from Wu Guangyao’s personal consultants and subsidiaries.

  A group of people came to the office, and Lester handed Wu Guangyao a thick pile of materials.

  "There are a total of 60 senior talents who meet your standards. I have given you three days to recruit from May 6 to May 8."

Wu Guangyao did not rush to read the information, but said to Lester and Ricard: "Two people, it has been a year since the time has passed. I believe you have already made arrangements for Europe and the United States! The one I proposed was in Asia. Cooperation, how are you preparing?"

  At this time, the tentacles of Korn Ferry International have not yet reached Asia;

  So last year, Wu Guangyao proposed that he should invest his own funds and manage by Korn Ferry International in the United States, and start business in Asia.

  Of course, the shares are no longer 75% and 25%, but 50%!

  Wu Guangyao made this proposal when he grasped that Korn Ferry was still short of silver and wanted to develop at a high speed;

  Since Korn Ferry was attacking cities in Europe and America at the time, Wu Guangyao has not yet responded!

Lester said, "Mr. Wu, you are dissatisfied with you. Both of us think that the funds of the headhunting company are secondary and management is the main one. If we do not accept your funds, in three to five years, we will have the strength to enter Asia. After all, once we are divided into 50-50 with you, there will be an uncertain factor in the future of Korn Ferry International in Asia!"

  Wu Guangyao did not expect that the two would reject him. It seems that he underestimated the fancy of these people for equity.

   "Well then! It seems that I can only form a headhunting company by myself!" Wu Guangyao said disappointedly.

  Wu Guangyao is true feelings, not forcing two people;

  Originally, Wu Guangyao wanted to start from Hong Kong and enter the mainland market in the future;

  So, even if Korn Ferry International rejected him, Wu Guangyao wanted to enter this industry.

  Leicard and Ricard were nervous for no reason. As the saying goes, the dragon does not crush the snake;

  If this man sets up a headhunting company in Hong Kong, it will ultimately be a loss for Korn Ferry;

  After all, he is still an important customer!

  Rickard said: “Why not, Mr. Wu injects another US$2 million to obtain 5% of the shares. We recently organized a management team to enter Hong Kong and start work!”

  Wu Guangyao said without hesitation: "This cooperation plan is also pretty good, so it's decided!"

  Think about it, the two are worried that the Asian market will be divided by Wu Guangyao by half. It is better to increase Wu Guangyao's shares in the headquarters of Korn Ferry, at least not to worry about the Asian branch being divided.

  While Wu Guangyao fancyed Korn Ferry’s international senior talent pool, if he started his own headhunting company, he would only be regarded as a mid-level headhunting company.

  The two parties hit it off and signed a financing agreement on the same day!

After the signing of   , it marked that Wu Guangyao owned 30% of the shares of Korn Ferry International, became the second shareholder, and ranked above Ricard.

  Back to the hotel, Wu Guangyao chatted with his four consultants.

  In this expansion of the family office, among the four, except for the financial consultant Morse, who served as the CEO of the family office;

  The other three did not enter the family office and continue to serve as Wu Guangyao’s personal advisors;

  The most important reason is that Rong Bensheng, Hollande, and Jonathan are all about to retire;

  While the family office is obviously a new organization, Wu Guangyao does not want it to be a group of old cadres who are about to retire, but hopes that it is a group of young and middle-aged talents full of vigor and struggle!

  The head of the investment management department of the six departments, Wu Guangyao already has a candidate, that is, the famous Peter Lynch in the later generations;

Peter Lynch, an outstanding stock investor and securities investment fund manager in his previous life, is known as the'first financial planner' and the'leading fund manager'; Peter Lynch and Buffett, Soros and others are equally famous , But whoever is the most perfect is undoubtedly Peter Lynch. The reason is that Peter Lynch’s character is the first.

  "Although the three of you do not hold specific positions in the family office, I hope you will serve as independent directors of the family council. Regardless of your retirement age, just how long are you willing to hold this position?"

  The so-called independent director is to balance the relationship between family members when there are frictions and differences in the family council.

  Like the third generation of the Samsung family and the vice chairman of the Samsung Group, Li Zaijiu, the Agnelli family, the richest person in Italy, serves as an independent director;

  Of course, the Guangyao Family Office will not invite others to be independent directors. It will only invite senior executives whom Wu Guangyao trusts to serve as independent directors. After all, Wu Guangyao still wants to maintain the mystery of the family!

  Of course, there may be exceptions!

Rong Bensheng said: "I am naturally willing to contribute to the boss's family, but boss, you don't have to be too anxious! After all, your spirit and body are far better than your actual age, and I am afraid that you can live easily at the age of a hundred; So this family office, we can gradually improve it."

  Jonathan and Hollande nodded one after another. As Wu Guangyao's close seniors, everyone usually exercises together. Wu Guangyao's physical function is really incredible.

Wu Guangyao sighed: "Tomorrow or accident, I don’t know which one will come first! My good friend Onassis, his only son had a plane crash last month. You should have seen it in the newspaper! That’s why I decided to go to the family office right away. ,just in case!"

  The four of them kept silent because the topic was heavy!

For a long time, Jonas said: "The boss is thoughtful. In Western countries, family offices do have many advantages. Especially for large families, it can not only ensure the longevity of the family, but also strengthen the relationship between family members! "

Wu Guangyao said: "Not only that, I am equivalent to finding a housekeeper for the family members. In the future, everyone can accept the opinions of the family office for travel, education, and purchase. I believe that my children and grandchildren have the opinion of the family. The sense of belonging will be even stronger!"

  (End of this chapter)