1;Preface;5 2;Foreword;7 3;Table of Contents;18 4;1 Family Business as Viewed by Financial Intermediaries;19 4.1;1.1 The Importance of Family Business and Definition of the Entrepreneurial Family;19 4.2;1.2 Taxonomy of Entrepreneurial Families: Structural Variables;20 4.3;1.3 Taxonomy of Entrepreneurial Families: Social Variables;23 4.4;1.4 Current Trends in Italian Entrepreneurial Families;25 4.5;1.5 The Requirements of the Entrepreneurial Family and the Financial Intermediary;27 4.6;1.6 Families and Their Relations with Other Advisors;29 4.7;1.7 The Financial Intermediary as the "Third Actor";31 4.8;1.8 Financial Intermediaries as Viewed by Entrepreneurial Families and Development of Family Offices;33 5;2 Private Banking and Family Business: Positioning and Development;38 5.1;2.1 Introduction;38 5.2;2.2 The Development of Banking Between Specialization and Integration;39 5.3;2.3 The Target Market for Private Banking and Wealth Management;41 5.4;2.4 The Financial Offer for Family Wealth Management;48 5.5;2.5 Family Office as the Organizational Solution for Family Business;52 5.6;2.6 Private Banking, Wealth Management and Family Business: Critical Aspects;58 5.7;2.7 Conclusions;63 6;3 The Map of Family Business Financial Needs;65 6.1;3.1 Introduction;65 6.2;3.2 A Proactive Segmentation Model for Family Business;66 6.3;3.3 Family Business Financial Behaviors: Toward a Combined Family- Firm Evaluation;81 6.4;3.4 From Mapping Requirements to Market Positioning as to Family Business;92 7;4 Synergies Between Corporate and Private Banking;105 7.1;4.1 Introduction;105 7.2;4.2 The Relationship Between the Owner Family and the Owned Firm: General Prescriptions;106 7.3;4.3 The Relationship Between the Owner Family and the Owned Firm: the Nature of Assets and Financial Connections;111 7.4;4.4 Synergy Producing Operations Between Corporate and Private Banking;125 8;5 Corporate Finance and Financial Advisory for Family Business;130 8.1;5.1 Introduction;130 8.2;5.2 Corporate Finance Operations and Wealth Management Services for the Entrepreneur and His/Her Family;131 8.3;5.3 Corporate Finance Operations: Links With Entrepreneurial Assets and Consequences in Terms of Required Services;136 8.4;5.4 Corporate Finance Services in the Wealth Management of Entrepreneurs: Effects on the Offer and Prevailing Business Models;141 9;6 Family Office: Which Role in Europe?;151 9.1;6.1 Introduction;151 9.2;6.2. The Family Office Distinctive Features;153 9.3;6.3 The Family Office Legal and Organization Structure;159 9.4;6.4 The Family Office Cost Structure;163 9.5;6.5 The Family Office Opportunities in the Italian Market and the Role of Banks;167 9.6;6.6 Conclusions;176 10;7 The State of the Art of the Multi-Family Office;177 10.1;7.1 Objectives and Methodology;177 10.2;7.2 Cautious Interpretation of Results;181 10.3;7.3 The MFO Governance;181 10.4;7.4 The MFO Target Market;188 10.5;7.5 The MFO Supply of Services;191 10.6;7.6 Operating Mechanisms: Customer Relationship and Management Fees;196 10.7;7.7 Conclusions and Possible Development Trends for the MFO in Europe;199 10.8;Annex 1 -Questionnaire;203 11;8 The Art of Family Office: The Case of a Multinational Bank Branch;205 11.1;8.1 The Strategic Goals of a Very High Net Worth Family;205 11.2;8.2 Preliminary Analysis of Family Needs;207 11.3;8.3 Essential Features;209 11.4;8.4 The Legislative Framework;211 11.5;8.5 A Case Study;213 12;9 The Art of Family Office: The Case of a Specialized Intermediary;215 12.1;9.1 Introduction;215 12.2;9.2 The Family Banker;215 12.3;9.3 The Family Office;216 12.4;9.4 Services;218 12.5;9.5 The Case of Corporate Family Office SIM S. p.A. (CFO SIM);221 13;References;226 14;List of Contributors;232