Family offices are growing both domestically and internationally. As newly established family offices and existing family offices continue to grow and expand, there are many questions about what the framework of a family office should look like.
One essential position that needs to be addressed for all family offices is the Chief Investment Officer.
When considering the hiring of a Chief Investment Officer (CIO), there are a number of key issues that need to be addressed.
The CIO role will vary quite a bit depending upon the size, complexity and objectives of the family. Many family offices manage their own assets and there are many who prefer to outsource that function to third parties.
For those looking to manage the function in-house, it is essential that the individual have a strong contact base of private equity and venture capital firms, asset managers, hedge funds, and other financial institutions. In addition, they should have extensive experience working either in another family office or another financial services firm as a portfolio manager, with a proven track record of success.
They should be well versed in wealth planning, structuring deals (both from a finance and tax perspective), private equity investing, performing due diligence, equity investing and portfolio management. The individual should also be entrepreneurial and align themselves with the investment philosophy and objectives of the family.
For additional information on how to hire a successful Chief Investment Officer, please contact: Michael F. Rosenblatt, President of FON Search and The Quest Organization at 212-971-0033 or via email at michael.rosenblatt@questorg.com
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