1200
627
Insights
310
310
Read it in 5 minutes
Recently, we’ve noticed a trend among the family offices we work with — many are expanding their operations, or planning expansions in the near future. This is supported by data from the UBS Global Family Offices Market Report, which predicts 30% growth in the market value of family offices over the next five years.
The drivers behind this trend are varied: the diversification of investment strategies, a need for satellite offices in new jurisdictions, or a requirement to develop new areas of internal expertise. Whatever the reasons underpinning each family office expansion are, they have one thing in common — they introduce a need to recruit skilled professionals who fit their unique culture and expectations.
As family office structures grow more complex, there’s an increasing need for niche expertise. Specialist roles are becoming crucial for managing sophisticated financial, legal, and lifestyle requirements. Bringing in dedicated professionals to manage specific areas of the family office adds a level of expertise that enhances the efficiency and effectiveness of operations across disciplines and borders.
The evolving global economy is prompting many family offices to establish a presence in new regions. By hiring expert talent locally, family offices can gain invaluable knowledge about regional markets, regulatory environments, and cultural nuances, facilitating smoother and more effective business operations. Local professionals can also offer jurisdiction-specific qualifications and added flexibility regarding travel and visa requirements.
To optimise returns and mitigate risks, family offices are diversifying their investment portfolios across different asset classes and geographic markets. Specialists with local market knowledge and global investment strategies are vital in navigating these diverse opportunities and ensuring robust portfolio management. This diversification helps family offices spread risk and capitalise on growth opportunities in various sectors, from real estate and private equity to emerging markets and technology startups.
Robust risk management is essential in an increasingly volatile geopolitical landscape. To address these complexities family offices are hiring experts in risk assessment and mitigation. These professionals are adept at identifying potential threats, developing contingency plans, and implementing strategies to protect family wealth. An expanded team can better handle crises and uncertainties, safeguarding family assets from unforeseen events and ensuring long-term stability.
Our work with family offices has revealed a growing interest in digital assets such as cryptocurrencies and blockchain technology. Additionally, many family offices are investing in sustainable projects to address climate change and societal impact. These emerging investment areas and new asset classes require specialised knowledge and expertise. Professionals in these fields can guide family offices in making informed decisions, ensuring that their investments are both profitable and aligned with their values, contributing to environmental sustainability and social responsibility.
Family offices are increasingly focusing on private equity and private debt for higher returns. They are also recognising the value in secondary markets, where valuation gaps between public and private markets are narrowing. Specialised professionals are crucial for navigating these investment opportunities. These experts can identify high-potential private assets and manage secondary investments, enhancing the overall portfolio performance and achieving superior returns compared to traditional investment avenues.
Adapting to new reporting and compliance requirements is critical for future-proofing the family office. Hiring technically expert local professionals helps ensure effective digital transformation and adherence to regulatory standards in whichever jurisdictions the family office operates. This may include implementing advanced technologies for data management, cybersecurity, and financial reporting, ensuring that the family office remains compliant with evolving regulations and is well-equipped to handle future challenges.
Victus Search has an extensive global network of professionals in the family office sector, enabling us to identify and recruit top-tier candidates with the precise skills and experience required — and in the right locations. This network is particularly valuable in niche markets where the best candidates might not be actively seeking new opportunities but are open to the right offer.
We conduct thorough consultations to understand the specific requirements and values of each family office we work with. This enables us to source candidates who are not only qualified but also a tight cultural fit, ensuring long-term success and harmony within the team.
Recruiting for highly specialised roles can be time-consuming and resource-intensive for busy family offices. At Victus, we remove this burden, managing the entire process from initial outreach and screening to interviews and final negotiations on our clients’ behalf.
Beyond the hiring process, Victus Search provides continuous support, offering insights into industry trends, salary benchmarks, and role requirements. We keep clients updated with best practices and emerging needs, ensuring that the family office remains well-staffed and prepared for future challenges.
If you’re looking to expand or relocate a family office, Victus Search can help you source the exact talent you need to make the process a success. Contact us for an initial consultation to learn more.
Whether you’re looking to fill a specialist role, or seeking the right position to deploy your unique skills and experience, the first step is to get in touch with one of our expert consultants.
Source expert talent Find specialist roles