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Laxman Pai, Opalesque Asia:

41% of Family Offices expanded the size of their teams in 2022 and a further 40% plan on hiring in 2023, said a survey.

The 2023 Global Family Office Compensation Benchmark Report by Agreus Group and KPMG Private Enterprise said that 80% of Family Office professionals receive a performance bonus that can reach over 200% of their basic salary. 58% received an uplift in their salary in 2022.

The report based on responses from more than 650 Family Office professionals worldwide presents an optimistic economic outlook for Family Offices based on data, opinions, and insights collated from over 1,500 Family Offices including qualitative interviews with Family Office Chief Executives from each continent - one of the largest global Family Office data sets.

The report benchmarks salaries, career history, and global Family Office demographics and shares key insights on emerging industry trends. The analysis is provided on succession planning, social mobility, and wealth transfers, as well as exploring continental variances in governance structures, Assets Under Management, the asset classes they favor, and how compensation aligns with both.

The analysis confirms Family Offices have become accustomed to operating in uncertain times, with contingency strategies to combat market shifts commonplace.

"Almost 10% of Chief Executive Officers in UK-based Family Offices can take home more than GBP1M in basic salary alone," said the report.......................

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