Fiduciary expertise shared at Jersey Finance event in Mombasa, Kenya
Ally Jaulim, Head of Business Development for Standard Bank’s International Fiduciary Services, recently participated in a thought-provoking roundtable discussion at the inaugural Jersey Finance event in Mombasa, Kenya, hosted in partnership with CMS Daly Inamdar Advocates.
The event, focusing on the topic of Succession and Governance in Family Business, attracted a diverse audience of industry leaders and professionals, including family representatives from more than 30 family businesses. The gathering provided a platform to delve into the complexities of succession planning and effective governance in family businesses. Leading the discussions were Faizal Bhana, Jersey Finance Director for Middle East, India, and Africa, and partners from CMS Daly Inamdar Advocates.
Ally Jaulim, who has extensive experience in the industry, was invited to participate on the panel. The discussions centred on the challenges faced by family businesses in East Africa, with a focus on intergenerational succession planning, effective governance structures, and the importance of sustainable growth. Attendees actively participated in robust discussions, engaging in the exchange of ideas and best practices. The event fostered a vibrant atmosphere of collaboration and learning, fostering new perspectives and solutions for the challenges at hand.
Ally shared his insights and experiences, shedding light on common challenges faced by families when implementing succession plans and the importance of maintaining control while involving non-family trustees.
"Effective governance is essential to ensuring the successful and harmonious succession of family businesses,” Ally says. “Events like the Jersey Finance roundtable discussion are invaluable for fostering collaboration between industry leaders and family office representatives. Robust discussions of this nature enable us to think creatively, find effective solutions, and remain relevant in addressing the unique challenges faced by each family. By coming together, sharing insights, and leveraging our collective expertise, we can lead the way in shaping innovative strategies that empower family businesses for long-term success."
Standard Bank’s International Fiduciary Services remains dedicated to supporting businesses across the African continent, and Ally Jaulim plays a central role in guiding families on their international structuring. As a leading provider of private client and corporate fiduciary services, Standard Bank has been establishing and administering complex and bespoke offshore fiduciary structures for over 100 years. Their offering is both robust and agile, combining the strength and depth of Africa’s largest bank by assets with the flexibility of a boutique fiduciary provider.
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