Compensation Challenges: Aligning Compensation Arrangements and Governance Structures with Family Objectives
PANEL PARTICIPANTS
KEY TAKEAWAYS
• R. Scott Beach (moderator) is chair of Day Pitney’s Corporate and Business Law department and chair of the Family Office Practice group. • Hunter Guice , principal consultant at Botoff Consulting, has advised family offices on compensation and benefits for over a decade. • Linda Mack is the premier provider of C-suite retained executive search and strategic human capital consulting solutions to family offices.
• Family offices must approach recruitment strategically and professionally, setting clear performance expectations, documenting compensation metrics in writing, and carefully evaluating cultural fit. • Top talent increasingly expects private equity-like incentives, such as carry participation and co- investment opportunities, especially where the family intends to make direct investments. • Family offices are taking governance more seriously, bringing on better qualified and more highly compensated investment committee members, partly to train and mentor the next generation of family members.
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