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Circular Economy Principles and Family Business and Wealth Ownership

In this session, Feisal, Philip, Iraj, and Kenneth will share what the circular economy is and what are the principles involved, how can families use circular economy principles to support the sustainability of the family and the family business itself, and how do these principles help inform how families prepare the younger generation for their future roles, manage the aging process and risks associated with the older generation, develop meaningful roles for family elders and much more. They will also talk about how holistic continuity audits uncover opportunities for paradoxes to be taken advantage of, and circularity and the family constitution and related governance.

Phillip Marcovici: Philip Marcovici is retired from the practice of law and consults with governments, financial institutions and global families. Philip was a partner of Baker & McKenzie, a firm he joined in 1982, and practiced in the area of international taxation in Hong Kong and Zurich while with the firm. Philip has also practiced law in each of New York and Vancouver, British Columbia. Philip retired from Baker & McKenzie at the end of 2009. The author of numerous publications, Philip is also the author of The Destructive Power of Family Wealth published by John Wiley & Sons. Among others, Philip is a member of the Public Policy Committee of the Society of Trust and Estate Practitioners and chairs its Responsible Stewardship of Wealth thought leadership group. Philip Marcovici holds law degrees from each of Harvard Law School and the University of Ottawa (magna cum laude).

Iraj Ispahani: Iraj Ispahani is CEO of Ispahani Advisory and based in London. Ispahani Advisory advises family and private businesses on business strategy, governance, people, and education. Iraj serves as a Board Member of the Ispahani Group, a family business headquartered in Bangladesh which marked 200 years in 2020. Iraj is editor and co-author of recently published Family Business and Responsible Wealth Ownership: Preparing the Next Generation. Iraj is Chair of Shakespeare’s Globe Council, an independent trustee of the Standard Chartered Foundation, Advisor to UNICEF and a Member of the ICRC’s UK Development Board.

Dr. Kenneth Goh: Dr. Kenneth Goh is Asst Professor of Strategic Management at the Lee Kong Chian School of Business, Singapore Management University, where he curates the entrepreneurship curricula to support the University’s innovation and entrepreneurship ecosystem. As the Academic Director of the Business Families Institute at the Singapore Management University (BFI@SMU), Prof. Goh leads BFI@SMU in its engagement with business families and ecosystem advisors to enhance their growth and impact.

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