The heart of a Family Office is the Chief of Staff, the key person responsible for orchestrating the family’s wealth management and lifestyle function seamlessly. Let’s delve into the role of a Chief of Staff in a Family Office, explore what Family Offices look for in one, and highlight key considerations for them in the recruitment process.
The role of a Chief of Staff
The duties of the Chief of Staff will differ according to the needs of the family, but generally they include:
- Managing key business relationships, liaising with family members and organising travels or high level meetings.
- Managing and leading the Family Office employees.
- Talent acquisition.
- Ensuring consistent and timely communication across the enterprise and various stakeholders.
- Provides leverage and support in operational activities.
What to look for in a Chief of Staff
Family Offices want candidates who have a unique combination of skills and characteristics. These include:
- A strong understanding of finance, investments and tax planning.
- Organisational skills.
- Communication skills.
- Problem solving skills.
- Degree educated.
- Strong interpersonal and communication skills.
- Ability to think strategically and conceptually.
- Determined, resourceful and practical.
- Strong work ethic.
- Maintains high standards and is results oriented.
- Operates with a high level of discretion and ethics.
What to consider when hiring a Chief of Staff
- Cultural fit: Just like any other employee, the Chief of Staff will become deeply integrated into the family’s life. Therefore, it’s crucial to find a candidate who aligns with the family’s values, culture, and objectives.
- Relevant experience: Look for candidates from the financial industry, or even better, the ones also with prior Family Office experience.
- Professional network: They should be well connected and able to leverage their network to benefit the family, whether it’s for investment opportunities, legal counsel, or lifestyle services.
The Chief of Staff is a multifaceted and indispensable figure who must uphold the trust and confidentiality that is vital in the Family Office world. This means undertaking a rigorous recruitment process to find the right candidate who can handle its challenges. With the right Chief of Staff in place, Family Offices can provide the high net worth families they serve with the comprehensive and tailored support they need.
Agreus is an established full service resources and recruitment consultancy dedicated to working exclusively with Family Offices. We’ve successfully placed entry level through to executive level professionals within investments, legal, accountancy and finance and operational roles in Family Offices across the world. We understand the unique dynamics of this space and can offer the perfect candidates as well as consultative advice on compensating your employees.
For a more tailored conversation, please do not hesitate to get in touch.
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