As with past Summits, the programme highlighted topics such as technology, healthcare, investing, fintech, family legacy and governance, philanthropy, education, the environment, energy, transportation and global inclusion. Trust, commitment, strength, respect, transformation and responsibility were significant themes for the influential group.
Key discussion points at the 14th Global Family Office Investment Summit included:
UAE and GCC Experience Strong Regional Growth
The UAE works hard to attract talent and focuses on a superior quality of life based on solid infrastructure, healthcare systems, sustainability, safety and resiliency. As a result, many Summit attendees intend to open their headquarters, including The Tsangs Group, Cash Angel, Platon Finance, Cahero Holding, AGCOIN, King's Co, IceCAp LLC, BlockChain Association and The Bank of Nevis. Government programs and incentives position the region as the World's Number 1 Business Hub.
Family Office Investment Trends
Family offices are moving away from passive investments by identifying funds able to manage volatility. Attractive investment sectors include cryptocurrency/digital assets, environment/conservation, solar energy, renewable energy, artificial intelligence, biotech/biodiversity, fintech, real estate, hospitality, technology, healthcare, education, impact investing and space exploration, among others. Entrepreneurs change the world, and financiers make it possible. Family office partnerships and co-investments are increasingly important.
Bitcoin is Value + The Crypto Focus Abounds
The cryptocurrency asset class is still somewhat new and will go up in Value. At the same time, experts noted that it is essential to understand its technology before investing. Bitcoin's Value represents the fusion of data and money and goes beyond being an asset class to be bought and saved. For example, crypto-based financial transactions are expanding as larger and larger companies participate, and the emergence of NFTs is of keen interest to investors. Family offices are excited about Blockchain 3.0 and anticipate improving our lives in ways we do not yet know or understand.
Artificial Intelligence Is Changing The World
Artificial intelligence has broad implications in emerging areas, including physical and mental health, food security, food personalisation/food waste, finance, and investing. At the same time, it is critical to note the ethical considerations of data harvesting and monetisation, privacy agreements, and data storage considerations. Data is "the new oil", and good quality data is necessary to move forward and build intelligent solutions for efficiency and optimisation.
Pandemic-Related Healthcare Issues Will Continue
Mental health challenges are predicted to be the next pandemic. Rates of depression and anxiety are rising due, in part, to isolation and fear. Suicide rates are a cause for concern, as are substance abuse issues. Data is used to link and monitor changes in mental health trends worldwide, and no age group or region appears to be immune. Blockchain has healthcare implications for storing and sharing patients' mental health data, thus making the healthcare system more efficient. Mental health concerns are top of mind among family offices and have a direct effect on the family.
EdTech is Big Business
The use of technology in education increased this year due to the pandemic, and its popularity exploded by necessity. In the future, it will be critical to assess how technology can supplement but not overtake in-person learning. Screen-to-screen interaction cannot replace human interaction, yet online learning is valuable in many ways. In many parts of the world, for example, it introduces expertise not previously available.
The Family's Human Capital is Vital to Success
Attendees noted that parents' most significant challenges include preparing the next generation of leaders within the family. From childhood into the early 20s are particularly formative years during which parents must prepare their children to be self-sufficient with a drive to succeed. Also, family offices are advised not to depend on children to lead the business and should instead recognise when limitations require outside expertise. Developing human capital is essential at all ages, including seniors. Every family leader needs to strive to be wise, caring and savvy with a commitment to helping the wider community.
Real Estate Is Booming
As in the past, real estate presents as a vital sector for investment. For example, in the United States, certain cities are poised to grow in value due to the growth of e-commerce and new Amazon distribution centres. Family office joint venture collaborations continue to expand in number and make it easier to do business in the UAE and elsewhere, where demand for new types of businesses abound, thus requiring new construction. Notably, real estate supports the global food supply.
Representative Distinguished Summit Guests, Some of Which Included:
- His Excellency Dr Thani Al Zeyoudi, Minister of State for Foreign Trade & Minister in charge of Talent Attraction and Retention at the Ministry of Economy, UAE
- His Excellency Fahad Al Gergawi, CEO of Dubai Investment Development Agency (Dubai FDI), UAE
- H.R.H. Prince Michel de Yougoslavie, Grandson of King Umberto of Italy and Prince Paul of Yugoslavia, Monaco
- H.R.H. Prince Juan Jorge de Bagration-Mukhrani of Georgia, Georgia
- H.H. Sheikh Mohammed Bin Ahmed Bin Hamdan Al Nahyan, UAE
- H.H. Sheikh Obaid Bin Suhail Al Maktoum, UAE
- H.H. Sheikh Ahmed Faisal Al-Qassimi, UAE
- H.H. Sheikh Al Fahad bin Mohammed bin Sulaiman, UAE
- H.H. Sheikh Majid Rashid Al Mualla, Chief Executive Officer, Private office of Sheikh Majid Bin Rashid Al Mualla, UAE
- H.H. Sheikha Noora Bint Khalifa Al Khalifa, CEO, Medpoint Design, Bahrain
- H.H Ameer of Kuwait, Kuwait
- H.E. Khalid Al Bloom, Deputy CEO, Dubai Investment Development Agency (Dubai FDI), UAE
- H.E. Marwan Jassim Al Sarkal, Executive Chairman, Sharjah Investment and Development Authority (Shurooq), UAE
- H.E. Sami Ahmad Dhaen Al Qamzi, Director General, Dubai Department of Economic Development, UAE
- H.E. Hussain AlMahmoudi, CEO, Sharjah Research Technology & Innovation Park, UAE
- H.E Ambassador Paata Kalandadze of Georgia, Georgia
- H.E. Zakyah Al Qaydi, Co-Founder and Board Member, Majestic Group, The Private Office of Her Highness Al Nahyan, UAE
- H.E. Prof. Sir Manuel Freire-Garabal y Núñez, President of the Private Council of H.H. Prince Mahmoud Salah Al Din Assaf, Chairman, Al-Khalifa Business School, Switzerland
- Adam Malouf, Chief Asset Sourcing Officer, Knowledge Fund - Government of Dubai's Sovereign Wealth Fund, established under the order of H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE
- Dr Mohammed Al Habtoor, Vice Chairman and CEO, Al Habtoor Group, UAE
- Habtoor M. Al Habtoor, Complex Business Development Manager, Al Habtoor Palace, LXR Hotels & Resorts, UAE
- Khalid Al Zayani, Honorary Chairman, Al Zayani Investments, Kingdom of Bahrain
- Distinguished Grand Ambassador for the 14th Anniversary Ritossa Global Family Office Summit: Mohamed Al Ali, CEO, Al Ali Holdings, UAE
- Dr Philippe Becker on behalf of H.E. Abdulmajeed Al Fahim, Chairman, Dubai Pearl, Former Executive Director, Private Office of H.H. Dr Sheikh Sultan Bin Khalifa Bin Zayed Al Nehyan, UAE
- Mohamed Saleh Almulla, Office Manager, Private Office of Sheikh Majid Rashid Al Mualla, UAE
- Jonathan Merineau-Gosselin, Co-Founder, RainMKRS Capital, UAE
- Mohamed Jouan Al Dhaheri, Executive Chairman, RainMKRS Capital, UAE
- Dr Adil Alzarooni, CEO, Alzarooni Emirates Investments, UAE
- Hamed AlHamed, Founder and CEO, Gracia Group, UAE
- Sidney Wheatley, CIO, Private Office of H.H. Sheikh Mohamed bin Salman bin Abdulla bin Hamad Al-Khalifa, Kingdom of Bahrain
- Ahmed Elmetwally, CEO & General Manager, Private Office of Highness Sheikh Mohammed Bin Ahmed Bin Hamdan Al Nahyan, UA
- Damian Goryszewski, Managing Director, The Private Office of H.H. Sheikh Ahmed Bin Faisal Al-Qassimi, UAE
- Dr Mohamed Al Hemairy, Head of Technology Transfer Office, Office of the Vice-Chancellor for Research & Graduate Studies University of Sharjah, UAE
- Dr Marwan Alzarouni, CEO, Dubai Blockchain Center, UAE
- Dr Mahmoud AlBurai, Senior Advisor, Dubai Government, UAE
- Ian Halliday, Consul-General Dubai, General Manager - Middle East, Africa and Turkey, Australian Consulate-General - Australian Trade and Investment Commission, UAE
- Jasmin Devlić, Consulate General of Croatia, UAE
- Kerry Adler, President & Chief Executive Officer, SkyPower Global Group of Companies, UAE & Canada
- Faisal AlOsaimi, Chairman, AlOsaimi Family Office, Kuwait
- Nick Spanos, Bitcoin Pioneer, Chairman, Blockchain Center Miami, Founder, Bitcoin Center NYC, USA
- Magomed Musaev, Founder & President, GVA, Russia
- Abdulkairm Ismail Al Zarouni, Vice President, Al Zarouni Sons Group, UAE
- James Upalli Masacorale, Vice President - Group Investments, Al Tayer Group, UAE
- John D'Agostino, CEO, Dagger LLC, USA
- Cheong Say Lim, CEO, Lootah Global Capital Limited, UAE
- Arash Dara, Group CEO, Lootah Holding, UAE
- Summit Chairman & Master of Ceremonies: Hussein Sayed, CNBC Arabia Anchor & Chief Market Strategist at Exinity, UAE
- Mohamed Al Musharrkh, CEO, Invest In Sharjah, UAE
- Mahmoud AlBurai, Senior Advisor, Dubai Government, UAE
- Dr. Saleh J. Malaikah, Chairman, RUSD Investment Bank, Kingdom of Saudi Arabia
- Ahmed Fawzi Musaad Al-Saleh, Chairman & CEO, Musaad Al Saleh Group, Kuwait
- Dr. Benner, Chairman, Benner Family Office, Germany
- Dana Al Salem, CEO, Merit Capital, & Co-Founder, Yahoo Europe, United Kingdom
- Animesh Saxena, Chief Investment Officer, Growmore Group, UAE
- Ali Al Khateeb, Managing Partner, General & Continental Investment Management, UK
- Dr. Ruchi Dana, Board Member, DANA Group, UAE
- Patrick Tsang, Chairman, Tsangs Group, Hong Kong
- Matt Wilkens, Senior Managing Director, Kallas Asset Management, Brazil
- Angela Homsi, Founder & Owner, Ignite Partners, Israel & UA
- Prof. Dr. Milan Krajnc, Author of Dynamic Leadership Model, UAE
- Wael Aburida, CIO, Halo Investments, UAE
- Brad Yasar, Founder & Chief Executive Officer, Beyond Enterprises LLC, USA
- Adil Khan, Head of Investments, Kcap & Rescom, Canada
- Michael Gord, CoFounder and CEO, GDA Group, Canada
- Dr Russell Read, Group Managing Partner, The C Change Group, UK, (Former CIO, Alaska Permanent Fund Corporation; CalPERS; and Gulf Investment Corporation)
In addition to family office attendees, the Summit also welcomed the Bitcoin Association to Dubai to speak on Blockchain for a Better World. The topics of discussion included new investment opportunities, ways to be more actively involved in the blockchain sector, and how blockchain impacts the future of healthcare, government, philanthropy, and virtually all facets of the business world.
We thank AGCOIN for hosting our Pre Summit Sunset Networking Reception and Bitcoin S.V. for hosting our Networking Cocktail Gala Reception.
Sir Anthony Ritossa's Upcoming Conference Dates in 2021:
SOURCE Ritossa Family Office
© Press Release 2021