For many business families, a family office takes shape before anyone calls it one. Dividends accumulate, a division is sold and the family holding company builds a portfolio beyond its stake in the operating business. Eventually, that wealth requires its own resources, people and decisions. Pontegadea offers a well-known example. Created in 2001 to reinvest […]
Thinking of setting up a family office? Start with these three questions
For many business families, a family office takes shape before anyone calls it one. Dividends accumulate, a division is sold and the family holding company builds a portfolio beyond its stake in the operating business. Eventually, that wealth requires its own resources, people and decisions. Pontegadea offers a well-known example. Created in 2001 to reinvest […]
When owners serve on the board
In many family businesses, the main shareholders also serve on the board of directors. It makes sense. They know the company’s history, bring the owners’ perspective, feel personally invested in the business and have a clear interest in its continuity. But being logical doesn’t mean being free of risk. In this article, we’ll examine both […]
Four rooms, four matrices: where do we start?
Imagine this scenario: for the first time in its history, a family business is considering appointing a non-family CEO. An initial question might be: Is the family ready for this next stage? But this question might be too broad. Owners may agree that they want to keep the company in the family for generations, yet […]
Power, leadership, management or culture: not every tool works for every problem
Last week we examined the foundations of the four rooms model in family business and why addressing a specific issue in the right room is so essential. In today’s installment, we’ll add another layer to this framework: the valuable tools proposed by the renowned scholar Clayton Christensen. Christensen’s diagnostic starts with two key questions Finding […]
ESG performance in family firms
According to common wisdom, the unique characteristics of family firms give them a natural edge when it comes to ESG performance. This IESE Insight article suggests a more nuanced reality, with highlights from recent research by NYU Stern professor Belén Villalonga and IESE professors Marta Elvira, Igor Kadach and Gaizka Ormazabal. What drives sustainability performance? […]
Four rooms, four matrices: choosing the right tools for change in family business
Family businesses are rarely at a loss for tools. They can establish a board of directors, redesign incentives, bring in an outside CEO, draft a family protocol, convene a family council or call in a mediator. The real challenge lies elsewhere: how do you know which tool to use, where to use it and when? […]
Annual Report 2025-26
Over the past academic year, the Chair of Family-Owned Business continued to advance its mission through high-impact research and teaching initiatives while deepening its ties with the global family-business community. We invite you to explore our Annual Report 2025-26, which highlights our key achievements in supporting family business owners, leaders and professionals worldwide. Annual Report […]
From family business to family office: 3 risks that are often overlooked
Author: Uzay Sezer Holder of a PhD in Business Administration and Management from Università Bocconi, his research explores family firms, corporate governance and incentive designs. When a family sells or steps back from an operating business, the ensuing celebrations often follow a familiar script. After years of hard work, they have succeeded in building something […]
The “surname ceiling” holding back family companies
Why do some professionals hesitate to join family businesses? This Financial Times article explores how family-owned firms compare with non-family companies as employers, drawing on key insights from the 2026 IESE-ECGI Corporate Governance Conference, held at IESE’s Madrid campus in May. The “surname ceiling” holding back family companies
The ownership dimension of succession
Four siblings. Third generation. Twenty years ago, their father divided the shares in four equal parts: 25% each. It seemed fair at the time, and he wanted to keep peace in the family—and at first, he got his wish. But now the business is confronted with a major strategic decision: entering a new market, refinancing, […]
