OTP PRIVATE BANKING
From our experts
First-hand analyses, op-eds and interesting facts in the language of publication.
The psychological factors when transferring or taking over a family business should not be underestimated
17 July 2023.
How can you make the most of a generational change that feels like a
nagging necessity? Generational change cannot be modelled by engineering tools,
it is a much too malleable process. However, this does not mean that it is not
possible and not worth preparing for.
You can read the full op-ed article for hvg360.hu by Tamás Bozsogi, Head
of OTP Bank Prestige Private Banking, here
Many lean years: a protracted probate process can floor even a perfectly healthy company
5 June 2023.
A generational transition that is not appropriately prepared for can
pose huge risks for a company. It is worth deciding well in advance who should
manage the account if the head of a family business is over 60. What solutions
can be put in place to keep the family business running if the handler of the
account suffers an accident? How can family assets be kept from circulating in the
system until the end of the probate procedure?
You can read the full op-ed article for hvg360.hu by Tamás Bozsogi, Head
of OTP Bank Prestige Private Banking, here
.
Being smart about big money: A few tips on how to look after family wealth
10 May 2023.
As the well-known saying goes, the first generation creates the wealth,
the second inherits and maintains it, and the third burns through it. What can
the head of the family do to prevent this from happening? And what role can a
financial service provider play in this process? In the western half of Europe,
family wealth management is already a common practice that can help overcome
many of the financial pitfalls of generational change. Generational differences
in mentality and a different historical legacy – these are the two factors
largely responsible for the fact that family wealth management has not yet
become widespread in Hungary.
You can read the full op-ed article for hvg360.hu by Tamás Bozsogi, Head
of OTP Bank Prestige Private Banking, here
.