{
  "docId": "019dd923-5e88-73ef-bd58-d60590226592",
  "docSlug": "4dabb861968e8184",
  "documentTitle": "ey family office study client deck asia pacific",
  "authorId": "MorganStanley",
  "authorName": "EY",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "equity_research",
  "sourceTypeLabel": "Equity research",
  "presentationDate": null,
  "orientation": "portrait",
  "aspectRatio": 0.707,
  "pageNumber": 25,
  "pageCount": 64,
  "prevPage": 24,
  "nextPage": 26,
  "slideType": "other",
  "function": "summarize",
  "density": "overcrowded",
  "nDataPoints": 4,
  "notes": "The slide is part of an EY Family Office Guide. It discusses compensation benchmarks for CEOs in the UK and Switzerland.",
  "elementsJson": [
    "bullet_list",
    "paragraph",
    "photo"
  ],
  "metadataConfidence": 0.9,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd58-d60590226592/25",
  "deckHref": "/decks/019dd923-5e88-73ef-bd58-d60590226592",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd58-d60590226592.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd58-d60590226592#slide-25",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "The key to retaining people once they have been recruited depends heavily on compensation and the feedback process.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-3408-77db-b488-c5027267cabf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.45,
        "x": 0.51,
        "y": 0.51
      },
      "kind": "image",
      "text": null,
      "attrs": null,
      "subkind": "photo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "376d3db8-645d-48ed-b59b-79009358a67e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.45,
        "x": 0.05,
        "y": 0.33
      },
      "kind": "list",
      "text": "Checking references. The recommendation from a trusted adviser or family member is valuable, but more extensive checks should be made. The process should be rigorous in order to ensure objectivity.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "95908d9e-9836-4abc-bd2b-2737fcbda357",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.45,
        "x": 0.51,
        "y": 0.33
      },
      "kind": "list",
      "text": "Receptiveness\nA big challenge when staffing a family office is how family office executives and family members can maintain a sense of partnership, without the impartiality of the executive being affected by the family. Family office executives must be open to giving and receiving feedback so that an environment of honesty and openness can flourish. This process of feedback is in itself dependent on the long-term commitment to the family, cultivated by appropriate incentive planning and personal chemistry – an unquantifiable element in the process!",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f27e670d-7b23-4a2e-bbff-00bd043e7541",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.45,
        "x": 0.05,
        "y": 0.73
      },
      "kind": "list",
      "text": "2. Feedback\nDelivery\nMany executives move from a highly structured corporate environment and can feel uncertain about their performance and the family's satisfaction with their role due to a lack of meaningful feedback. Family members may be unused to having to satisfy this need for feedback, but attempts should be made at a fair and thorough assessment of performance where possible. It has been observed that CEOs at family offices often feel unimportant, largely because of a lack of feedback, rather than concern over compensation.",
      "attrs": null,
      "subkind": "numbered",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1881a7eb-20f0-46da-9ff8-c6c2d6f94994",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.45,
        "x": 0.05,
        "y": 0.48
      },
      "kind": "list",
      "text": "1. Compensation\nConversations. The feedback process must be performance-based, consistent, and incorporate an element of long-term compensation.\nIncentives can include things such as phantom stock (future cash payment based on market value of shares), co-investment opportunities, transaction bonuses and, in some cases, partnerships. Incentive plans often reflect the standards in the industry that created the family's wealth, so packages vary by industry.\nBenchmarks for compensation: a CEO's base salary in the UK ranges from US$240,000 to US$630,000, while in Switzerland CEOs managing multi-jurisdictional wealth receive between US$450,000 and US$720,000 as a base.",
      "attrs": null,
      "subkind": "numbered",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d1179f31-d7b9-4b87-aa93-0b5500049a17",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.45,
        "x": 0.05,
        "y": 0.43
      },
      "kind": "paragraph",
      "text": "The key to retaining people once they have been recruited depends heavily on compensation and the feedback process. Here is a useful checklist:",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3efc4ca4-d3f0-4f12-a863-5ed23bafeabf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.2,
        "x": 0.05,
        "y": 0.4
      },
      "kind": "title",
      "text": "Retaining talent",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "575108df-2e28-4e63-8eb0-5de2f70a91ea",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 30,
      "from": 21,
      "beatId": "85c3b719-5f74-4519-b1fe-5b500b7b46b8",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
      "beatSlug": "consultants-gambit-impact-next-steps",
      "evidence": "The deck discusses the costs of running a family office and the process for setting one up.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}