Barclays Wealth

Barclays Wealth India collaborates with Web18's moneycontrol.com to create innovative wealth creation and management opportunities

This is a first-of-its-kind, unique initiative in association with web 18's moneycontrol.com to promote family business management and succession planning in India.

Barclays Wealth India, the global wealth management division of Barclays PLC in association with Web18's moneycontrol.com, launched a first-of-its-kind initiative known as the 'Family Business Forum' in order to engage and reach out to the next generation entrepreneurs and therefore build a strong foundation for family business management and succession planning in India.

Nearly eighty percent of Family owned companies in India dominate the Indian economy. Indian business families now are more open to discussion on issues like business continuity, succession planning, corporate governance, how to handle sibling rivalry, how to draft a trust, etc. and are seeking advice from experts. It is this inherent demand in the economy that has made reputed business schools start a curriculum on family business management where they bring fresh and business relevant perspectives of managing a family business thereby preparing the future successor.

The Barclays Wealth, Family Business Forum program is structured around an inter-collegiate competition amongst the best six B Schools offering the family business management course in the country. This interactive competition will be conducted in the presence of an honourable jury that would include senior level Industry experts who will select two eligible students on merit from each of the B schools. The selection process is based on the performances of the students on case studies that will be assigned to them. These students will further represent their respective colleges at the national finals which will be held in Mumbai during March 2010. The winning team members will be invited to the exclusive Barclays Wealth Family Business Seminar where various prominent business experts will share their views on management of family businesses, apart from winning other attractive prizes.

The jury would consist of eminent family business owners, professors from renowned business schools, authors, professionals, etc.

The Barclays Wealth Family Business Forum is an interactive knowledge platform that will help place views, perspectives and challenges of both generations handling the business and will take a solution oriented approach by bringing in expertise from panelists who deal with such situations globally and in India.

Commenting on this launch, Mr. Satya Bansal, Chief Executive of Barclays Wealth, India, said, "Barclays Wealth is extremely happy to create and support this interactive knowledge platform, relevant not only for the next generation entrepreneurs but also for all family businesses in India."

Commenting on the collaboration, Lakshmi Narasimhan, CEO, Web18 said, "We are pleased to have partnered with an industry leader like Barclays Wealth. This successful collaboration brings together conceptual knowledge and corporate experience, to build partnerships between family-run business owners, managers and B-Schools. It underscores moneycontrol's commitment to deliver the very best, so that India Inc. can leverage the latest in wealth management"

Barclays Wealth India facilitates students to experience a unique exposure to valuable insights, expertise and thought leadership thus resulting in learning and optimum growth of the individual as an ambassador to the next generation family business. Through this venture, Barclays Wealth India aims at building next level of competencies and knowledge for next generation leaders from family businesses and thereby creating innovative wealth creation and management opportunities.

For further information contact:

Raja Sanyal
Barclays Wealth, Head of Marketing - India
+91 67196357 / +91 9920533832

Dipanwita Dutt
Ogilvy PR Worldwide, Associate Consultant
+91 9967643953

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