1、PRIVATE WE ALTH AND FAMILY OFFICESSTAYING ON COURSE IN TURBULE NT TIMESCELEBRATING10 YEARSOF GBCI2PRIVATE WE ALTH AND FAMILY OFFICES Managing family wealth,often across international borders,has always been a complex affair and the past 12 months,rampant inflation and an intensifying climate crisis

2、havent made the task any easier.We examine how the trends highlighted by TMF Groups Global Business Complexity Index 2023(GBCI)are impacting private wealth.Trying to navigate a safe path through an increasingly complex world has been top of the agenda for investors over the past 12 months.It has bee

3、n a year of geopolitical upheaval while world trade is in recovery from the difficult years of the Covid-19 pandemic.The troubled picture has led to global economic instability,with higher inflation and rising interest rates which have also been the trigger for stresses in the financial markets,that

4、 have so far been contained by prompt intervention by the relevant authorities.The increasing importance of environmental,social and governance(ESG)has also been in sharper focus as families and businesses further define what this means for them.Private wealth and family office clients are concerned

5、 with reputation,compliance,governance,legal and political stability,access to specialists and,importantly,navigating the complexity of the global markets they operate and invest in.The GBCI report,which is celebrating its 10th anniversary this year,provides an authoritative overview of the complexi

6、ty of establishing and operating businesses around the world.The index is based on the analysis of 292 different indicators relating to business complexity in each jurisdiction examined,providing an overview of the global and local challenges faced by businesses.Analysis for the report is also based