Our Bank is convinced that the future will see a new generation of “digital natives” and it is because clients’ expectations are evolving at an unprecedented rate that the UBP Next Generation Academy (“NextGen Academy”) was set up. After the first round of the programme was such a success in 2017, a second round of the NextGen Academy was organised during spring last year. Young people from all around the world were invited, all of them children of the Bank’s most significant clients.
“By essence, Private Banking’s clientele counts a good proportion of entrepreneurs and families that hold, or have just sold, industrial assets.”
explains Michel Longhini, CEO Private Banking. These clients have similar issues surrounding family governance and succession planning. “As these families’ preferred point of contact, we have seen that training the next generation how to manage and grow their assets, whether inherited or not, is a very important issue for them” Michel Longhini continued.
With this in mind, the NextGen Academy was set up as an opportunity to support our best clients and enable them to acquaint their children with the world of finance.
With initiatives aimed at the coming generations multiplying in recent years in the banking world, UBP was determined to set up a concept that stood out for its originality and added value. In other words, we had to come up with an exclusive formula: “Being a family company ourselves, we position ourselves as a partner for family companies. In order to offer something extra, we wanted a programme with very high quality content,” confirmed Michel. And what partner could be better to put together a bespoke programme than INSEAD, the most prestigious business school in the world?
The course content was developed by the Bank and INSEAD in an effort to deal with the issues that the next generations in particular will have to face.
“It was designed to give the participants the knowledge they need to enable them to transform their families’ businesses, or at least to put them in a forward-looking, innovative context,”
Antoine Duvauchelle, Adjunct Professor at INSEAD and a speaker at the NextGen Academy tells us.
Adrian Johnson, also an Adjunct Professor at INSEAD, teaching at the NextGen Academy, adds, “We live in a world that is being disrupted, one that is technical and complex; despite this, family business that have existed for two or three generations are steeped in tradition. Our aim is to help the next generation to develop ideas that will enable a family business to survive in the long term.”
For UBP, the programme has proved both highly successful and beneficial. Following the first two NextGen Academies, a community of alumni has been built up, one which is set to grow with every next round.