Since the inception of Cone Marshall’s rep office in 2022 the Middle East team have seen an increased urgency from families within the region on estate planning, intra-family mediation, succession planning and Next Generation training. This is due in part to recent family related disputes that have taken place in the region as well as the on-going great transfer of wealth to the next generation.
Over recent months the Middle East team have had the privilege of attending key events in Dubai, Qatar & KSA highlighting the importance governments have given to these topics. Some key takeaways:
- Dubai Family Wealth Center (March 1) was launched under the leadership of Dr. Tarik Al Hajjiri and was attended by prominent Emirati families, law firms, bankers and fiduciary services providers including our Cone Marshall Middle East team.
- Qatar Family Community Forum (22 May) organized by her Highness Shaikha Alanouda al Thani, sponsored by Julius Baer and attended by Cone Marshall Middle East team, provided over 100 prominent families from the Gulf (and elsewhere) an opportunity to learn more about family offices, governance, succession planning and Next Generation training.
- Riyadh (week of 29 May), prominent families and lawyers attended a conference on Governance and Succession Planning. The Cone Marshall Middle East team travelled to both Jeddah and Riyadh meeting prominent families and their advisors.
- The Middle East is witnessing the transition of one trillion dollars from one generation to the next and at recent meetings the Cone Marshall team attended over 28 law firms reported substantial litigation amongst disputing family members.
- The recent conferences in Dubai, Qatar and in the KSA reflect government and private sponsored initiatives to avoid intra-family disputes and for the need for professional Estate and Succession Planning, family governance, mediation and Next Generation planning in the GCC.