Dubai, United Arab Emirates, November 2026: LGT Middle East Ltd. “LGT Middle East”, part of LGT Group, the leading international private banking and asset management group owned by the Princely Family of Liechtenstein, and the Tharawat Family Business Forum, an independent membership network and think tank dedicated to the sustainability, innovation and growth of family businesses across the Middle East and North Africa (MENA), have launched a new report exploring the diverse ways the next generation is contributing to the future of family enterprises, from business leadership and entrepreneurship to responsible ownership, governance and long-term wealth stewardship.
Titled “Architects of Tomorrow: Rethinking Succession in MENA Family Enterprises”, the report challenges the conventional view that the next generation’s contribution is defined primarily by inheriting leadership positions. Instead, it examines how younger family members are creating value through different pathways, reflecting the evolving needs of family enterprises and the ambitions of those who will shape their future.
Documenting how family enterprises navigate geopolitical uncertainty, technological transformation and increasingly complex ownership structures, the report highlights the need to move beyond the question of who will take over towards understanding how members of both generations can contribute to the long-term resilience, continuity and growth of the wider family enterprise.
The report draws on in-depth conversations with next-generation family enterprise leaders from the UAE, Oman, Jordan and Egypt, exploring how younger family members are reconciling personal ambitions with the responsibilities and expectations associated with inherited wealth and established family businesses. Their experiences illustrate how maintaining a meaningful relationship with a family enterprise does not necessarily require following a predetermined career path or assuming an executive position.
The findings carry particular relevance for MENA family enterprises, many of which have evolved beyond individual operating businesses into increasingly diversified structures encompassing investments, financial assets and multiple commercial interests. As these enterprises become more complex, preparing future generations requires a broader approach that recognises the different capabilities and responsibilities needed across business operations, ownership, governance, investment and entrepreneurial activities.
Sebastian Goeres, Chief Executive Officer of LGT Middle East, commented: “Preserving family wealth across generations requires more than a successful one-off transfer of assets or leadership. It requires preparing the next generation to make informed decisions, understanding the responsibilities of ownership and contributing meaningfully to the family’s long-term objectives. As a family-owned private bank, we recognise the importance of balancing continuity with change. This report highlights why families must create opportunities for the next generation to shape their future while preserving the values and legacy built before them.”
Central to the report is the Next-Generation Contribution Framework, developed by the Tharawat Family Business Forum as a practical tool to help families assess where younger members can create value, how their contributions relate to the family legacy, and what senior family members can do as mentors. The framework identifies four distinct but potentially overlapping roles:
- Professional / Operator: Strengthens and improves the existing family business through operational expertise, management and execution.
- Intrapreneur: Drives renewal from within the enterprise by developing new capabilities, products, practices or business models.
- Owner-Steward: Safeguards family capital, governance and long-term purpose through responsible ownership and strategic oversight.
- Venture Builder: Establishes independent or adjacent ventures, creating new opportunities and capabilities beyond the core family business while keeping the inherited family values.
Rather than prescribing fixed roles, the framework recognises that next-generation members may move between different responsibilities throughout their careers or hold multiple roles simultaneously. It also acknowledges that meaningful contribution does not necessarily require direct involvement in the operating business, with family members able to create value through ownership, governance or ventures beyond the core enterprise. It reinforces the importance of structured governance, ownership education and open dialogue between generations to ensure that individual ambitions remain aligned with the family’s long-term interests.
According to Farida F. El Agamy, General Manager of the Tharawat Family Business Forum: “The next generation is challenging us to rethink what meaningful participation in a family enterprise looks like. Succession is no longer simply about identifying who will take over, but recognizing the different ways family members can create value. Through this framework, we hope to encourage more constructive conversations between generations and help families create the conditions for individual ambition and collective purpose to thrive together.”
The report also outlines practical recommendations for family enterprises seeking to prepare future generations for greater responsibility. These include establishing clear expectations around ownership and management, encouraging professional development and external experience, creating structured channels for intergenerational dialogue, and strengthening financial and governance literacy among future owners. It emphasizes that the future resilience of family enterprises depends not only on preserving existing wealth and business interests, but also on creating opportunities for all generations to develop the capabilities, experience and judgement needed to adapt, innovate and respond to changing market conditions.
For family enterprises across MENA, where family ownership, business operations and wealth management are often closely interconnected, recognizing the breadth of next-generation contribution can help reconcile individual ambitions with collective priorities, strengthen governance and support long-term continuity.
As a family-owned private bank with a heritage rooted in the Princely Family of Liechtenstein’s 26-generation family tradition, LGT brings a distinctive perspective to the challenges of preserving and developing wealth across generations. The continued partnership with the Tharawat Family Business Forum reflects LGT Middle East’s long-term commitment to the region and to advancing conversations on responsible ownership, family enterprise development and wealth stewardship.
The full report, “Architects of Tomorrow: Rethinking Succession in MENA Family Enterprises”, can be found attached.
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About the report:
“Architects of Tomorrow: Rethinking Succession in MENA Family Enterprises” is a joint publication by LGT (Middle East) Ltd. and the Tharawat Family Business Forum, developed as part of Tharawat’s The Future of Family Wealth initiative. The report draws on five in-depth conversations with next-generation family enterprise leaders from the UAE, Oman, Jordan, and Egypt, complemented by perspectives from two senior leaders and Tharawat’s more than 20 years of experience researching and collaborating with family enterprises across MENA. It introduces the Next-Generation Contribution Framework as a practical tool for examining leadership, ownership, governance, entrepreneurship, wealth stewardship and diverse pathways of contribution.
The publication builds on both organizations’ earlier joint report, “Wealth and Legacy: The Rise of Single-Family Offices in the MENA.”
LGT Middle East:
Established in 2012, LGT Middle East is part of LGT Group, a leading international private banking and asset management group that has been fully controlled by the Liechtenstein Princely Family for over 90 years. As at 30 June 2026, LGT Group managed assets of CHF 412.6 billion (USD 511.4 billion) for wealthy private individuals and institutional clients. LGT employs 6000 people who work out of more than 40 locations in Europe, Asia, the Americas, Australia and the Middle East.
Based in the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority (DFSA), LGT Middle East provides private banking and wealth management services to a diverse client base across the region. Leveraging Dubai’s position as a strategic hub connecting East and West, it combines deep local insights with LGT Group’s international investment capabilities, family ownership and long-term approach to wealth management.
The Tharawat Family Business Forum:
The Tharawat Family Business Forum is an independent think-tank and membership network dedicated to the sustainability, innovation, and growth of MENA family businesses. The organization was founded in 2006 by leading family-owned companies from across the Middle East, who shared a vision to build a strong peer community and platform for family businesses. Today, Tharawat plays an instrumental role in developing knowledge and expertise around family businesses in the region and beyond.
