London forum focuses on family businesses

BMG Financial Group organized the fifth annual Family Business Forum in London.
This was in line with the group's commitment to the development of the capital market in the Kingdom by focusing on the feasibility, including of the family business, of making them public joint stock companies.
BMG Financial Group, claimed to be the first company licensed by the Capital Market Authority (CMA) in the Kingdom as a major investment bank in the Gulf region, stated that the forum highlighted the latest developments and the most important new directions for the capital markets in Saudi Arabia, as well as the exchange of experiences with family businesses, which turned into public joint stock companies, registered in the capital market.
The London Business School, United Bank of Switzerland and Al-Istithmar Capital were strategic partners of this event.
The forum discussed the importance of transforming the family businesses into public joint stock companies and the benefits that they attract to maintain what grandparents and parents had built from their work, their achievements and the wealth they created, through the development of the constitution of the family and the framework of governance within the rules and regulations of the CMA.
Basil Al-Ghalayini, head of BMG Financial Group in his welcome address emphasized the importance of such forums to enrich the thought of preserving the future of the family business.
The first keynote speech was delivered by Shaukat Aziz, former prime minister of Pakistan and a senior former executive at Citibank, on regional and global challenges facing the business sector at the forum held in the Institute of Directors in London.
The second and last keynote speech was presented by Professor Richard Jolly, professor of business administration at London Business School entitled "Leading the family business." He highlighted the best ways to lead companies and explained the benefits of moving a family owned business to a public company.