The Essentials of Family Governance: What Every Family Business Owner Should Know
Join GenSpring SunTrust Private Wealth’s David Herritt, Head of GenSpring Family Office Services, and Managing Director, GenSpring Family Office Services, Carolann Grieve; along with Family Business Magazine’s Publishing Director, David Shaw, as they discuss what every family business should know about good family governance.
Tuesday, November 17, 2020
2 p.m. ET | 11 a.m. PT
Family business owners understand the need for corporate governance but often underestimate the importance of family governance — believing it can feel too formal and rigid for a family. In truth, many of the same competencies relevant to creating corporate governance apply to family governance. For example, having a vision and setting a mission, strategic planning, organizational design, talent identification and management, professional development, and succession planning. When done right, creating a system of family governance, including family councils, owner’s councils and other formal systems can be a key factor in the multi-generational success of a family. This webinar will outline the essential family governance topic areas, discuss best practices, and highlight the benefits to families that establish successful family governance.
Head of GenSpring Family Office Services, GenSpring SunTrust Private Wealth
David Herritt joined GenSpring in 2006. In his role as Head of GenSpring Family Office Services, David is actively involved with the development of resources to aid families in areas related to their human and intellectual capital. He has extensive experience in family meeting facilitation, family communication, family policy creation and next generation education. Further, David has direct oversight of all aspects of the delivery of family governance, education, enhanced reporting and expense management.
Prior to joining GenSpring, David worked for a number of trust companies including Bankers Trust, Deutsche Bank Trust and U. S. Trust. David spent much of the early part of his 25 plus year career in Trust and Estate Administration. Over time, he transitioned to focusing on the human and intellectual capital topics facing families. He speaks and writes regularly for professional and client groups on a myriad of topics including family governance, family dynamics, next generation education and planning for closely held businesses.
David attended Brockport State University and obtained a Bachelor of Science degree in Political Science and Economics. In addition, he obtained his Juris Doctor from the Cumberland School of Law. David is also a graduate of the National Graduate Trust School program at Northwestern University.
David is involved with the Association of the Blind and the Connecticut Special Olympics.
Managing Director, GenSpring Family Office Services, GenSpring SunTrust Private Wealth
Carolann Grieve is a managing director and a member of the GenSpring Family Office Services group. Carolann is responsible for delivering GenSpring’s family governance and family education offerings to clients across the firm, helping families to identify their wealth objectives and to deepen their financial knowledge and what it means to live a life of wealth.
In addition, Carolann chairs GenSpring’s Women & Wealth Initiative. Through this initiative Carolann works with her GenSpring colleagues to create a welcoming environment emphasizing a holistic approach to financial stability, which in turn enables women to live an informed and responsible life with wealth, to feel fulfilled and empowered to achieve their goals.
Prior to her current role, Carolann was a senior wealth strategist, responsible for assisting families with a wide variety of wealth management needs, including estate planning, tax, financial planning, fiduciary, philanthropy and family governance issues. Carolann worked closely with a client’s GenSpring investment strategist and other professional advisors outside of GenSpring to ensure that all aspects of a family’s wealth management plan were closely coordinated.
Carolann was previously the chief financial officer of Eagle Capital International, an investment firm and multi-family office, where she was responsible for trust and estate administration, tax return preparation, client reporting, technology and human resources. Prior to that, she worked as director of accounting at Pantasote, a publicly traded international plastics firm. Additionally, Carolann was accounting manager at the International Division of Chesebrough Ponds.
Carolann is a graduate of Iona College where she received her MBA in Finance and her BBA in Accounting. Carolann is a Certified Trust and Financial Advisor.
Publishing Director, Family Business Magazine