Key Risks in Doing Business with Family Offices


Thomas G. Kennedy

Director, Compliance
THE CITIGROUP PRIVATE BANK
US Private Banking & Tailored Portfolio Group
CCO, Global Hedge Strategies, LLC
New York, New York

Frederick Yorke

Member
CITIGROUP TRUST FIDUCIARY
ADVISORY COUNCIL
Tome River, New Jersey


This session will cover some of the key risks for financial institutions doing business with family offices. Topics include advice on how to manage risks associated with the following: choice of legal capacity (e.g., fiduciary versus agency, directed versus discretion etc.); AML/KYC risks in light of the prevalence of special purpose entities (including trusts); assessing the authority of agents utilized by family offices; human resources risk (e.g., when key employees are persuaded to join the family office); and suitability risks associated with specific products sold to a family office and its entities.

Click here for speaker biography - Thomas G. Kennedy

Click here for speaker biography - Frederick Yorke

Click here for PowerPoint presentation

No other session materials are available