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May 4, 2011

In a major new survey, Campden FB has compiled a list of the top 50 family business leaders in the world.

In a major new survey, Campden FB has compiled a list of the top 50 family business leaders in the world.

With the aid of four senior family experts from the world's leading business schools - Randal Carlock from INSEAD; Joachim Schwass from IMD; Kavil Ramachandran from Indian School of Business; and John Ward from Kellogg School of Management – Campden has sifted through loads of data to compile the final list. The top five places went to John Elkann, Azim Premji, Güler Sabanci, Guido Barilla and Ratan Tata.

March 28, 2011

Family-owned industrial group Schaeffler moved to bolster its financial strength, with the announcement on 28 March that it plans to increase its direct stake in car parts maker Continental, which it acquired in 2008, while also reducing its debt through the sale of shares.

Family-owned industrial group Schaeffler moved to bolster its financial strength, with the announcement on 28 March that it plans to increase its direct stake in car parts maker Continental, which it acquired in 2008, while also reducing its debt through the sale of shares.

March 7, 2011

Hamburg-based Berenberg Bank says it has seen a surge of money coming in from family offices and businesses as it reports record results for 2010.

Hamburg-based Berenberg Bank says it has seen a surge of money coming in from family offices and businesses as it reports record results for 2010.
 
The bank, which works with many of Germany’s Mittelstand companies, said that it scooped up an additional 1,000 clients last year – many of them from family offices and businesses – as Berenberg grew assets under management by €3.6 billion to €25.5 billion.
 

February 24, 2011

Family-controlled German carmakers, Porsche and Volkswagen, announced on 23 February that their planned merger may not happen this year due to pending legal issues.

Family-controlled German carmakers, Porsche and Volkswagen, announced on 23 February that their planned merger may not happen this year due to pending legal issues.

The two carmakers had previously revealed plans to merge by the second half of this year, but unresolved legal issues relating to a failed takeover of VW by Porsche in 2008 are likely to delay the merger.

January 13, 2011

Turin and Wolfsburg might not have much in common at first glance, writes David Bain.

Turin and Wolfsburg might not have much in common at first glance, writes David Bain.
 
For one thing, Wolfsburg is in Germany and has a population of just over 100,000, whereas Turin is in Italy with nearly one million inhabitants. It's probably also fair to say that the temperament of each other's citizens might have little in common.  
 
But there is one thing that unites both of these towns – car making.
 

August 3, 2010

The worldwide recovery in consumer spending helped to bolster the earnings of Metro AG, one of the world’s biggest family-controlled retailers.

The worldwide recovery in consumer spending helped to bolster the earnings of Metro AG, one of the world's biggest family-controlled retailers.
 
Metro reported earnings before interest and tax for the six months to the end of June rising to €369 million, from €302 million a year ago. Sales rose 2.4% to €31.2 billion. Non-family chief executive Eckhard Cordes said in a statement that Metro plans to rise capital spending to €2.1 billion in 2011, up from €1.9 billion this year.
 

July 29, 2010

Theo Albrecht, the highly secretive co-founder of discount retailer Aldi, died on Saturday at 88.

Theo Albrecht, the highly secretive co-founder of discount retailer Aldi, died on Saturday at 88.

Aldi Nord, the company he headed for half a century, said in a statement that he had died in his hometown of Essen, Germany, but did not give the cause of death.

July 16, 2010

Tax raids by governments on private banks, such as the one on Wednesday by German investigators on Credit Suisse offices, are a short term move by governments to raise cash but do not address the underlying problems, according to one family office executive.

Tax raids by governments on private banks, such as the one on Wednesday by German investigators on Credit Suisse offices, are a short term move by governments to raise cash but do not address the underlying problems, according to one family office executive.
 

July 12, 2010

Banco Santander, the family-controlled banking group, announced today that it will acquire the German retail banking business of Skandinaviska Enskilda Banken (SEB Group) for €555 million.

Banco Santander, the family-controlled banking group, announced today that it will acquire the German retail banking business of Skandinaviska Enskilda Banken (SEB Group) for €555 million.
 
The acquisition adds 173 branches and around a million customers in Germany for Spain-based Santander. Family chairman Emilio Botin (pictured) said: "Germany is a core market for Santander. This acquisition is a significant step towards achieving our goal of being a full-service retail bank in Europe's largest market."

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