Webinar - One Familyʼs Leadership Succession Journey: Honoring the Past, Creating the Future
Overview
Wednesday, Feb 06, 2013 - 10:00am
Wednesday, Feb 06, 2013 - 10:00am
You may have heard the phrase "succession is a process, not an event," but what does this really mean in practice? Join us on February 6 for this webinar as we explore leadership succession in the family enterprises as experienced by the Houghton family.
Karen Neal, Managing Director at Family Office Exchange will moderate a panel including James Houghton, sixth generation family leader and Marianne Young, CEO of Market Street Trust Company, the Houghton's family office. James and Marianne will discuss how succession didn't happen overnight, and how certain triggering events led the family to explore the legacies of the family, the family office, and the original operating business to manage the succession processes.
In this program you will be able to:
Describe some typical leadership succession challenges and how one family addressed them
Identify characteristics of good family leaders
Understand how succession experiences in the operating company can drive families to find roles for family members within the multiple layers of the family enterprise
Recommended For
Family office executives and staff, advisors and family members
Karen works with family groups and wealth advisors to bring processes and solutions to the challenges of preserving family wealth, including refining of business strategy to address transitions and changing needs of the family and firm. Her work with families has included development of family enterprise strategy, operational assessment of the family office, selection of wealth advisors, and wealth management industry education. She is a frequent speaker on the topic of family office best practices.
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James is a sixth-generation family member and Chairman of Market Street Trust Company, an integrated wealth management firm and family office based in Corning, NY that was created in 1909 to serve the interests of the founding family of Corning Inc.
James is also a Director and advisor to Rollo Capital Management, an investment management firm focused on the advanced material space. Previously James was a General Partner of Megunticook Management, a Boston based venture capital fund investing in early stage media, communications, and technology companies. Prior to Megunticook, James worked as business manager for Corning Inc. and began his career in corporate finance with JP Morgan in New York and London. James is a Trustee of the Corning Museum of Glass and St. Paul's School. He is also an Overseer of Shady Hill School in Cambridge, MA and a Director of the Triangle Fund. James received his B.A. from Harvard College. He lives in Boston with his wife and two daughters.
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Marianne has been with Market Street since 1995, first as Vice President for Client Services where she was responsible for the management of client relationships for both individual and trust accounts, and then as President beginning in July, 1999. In addition to working with the Board of Directors on strategic issues, Marianne works with individuals and family groups to facilitate financial and estate planning. She also works with and advises several family foundations.
Before joining Market Street, Marianne practiced law at Harris, Beach & Wilcox, where she focused on corporate and banking law. She received a B.A. Degree from Mount Holyoke College and an M.S. Ed. from the University of Rochester. She also holds a J.D. Degree from Cornell Law School where she graduated Magna Cum Laude. Marianne was admitted to the New York State Bar in 1992 and is a member of the New York State Bar Association, Trusts and Estates Law Section. She served on the Family Office Exchange Advisory Board for a number of years. She is a past President of the Board of Trustees of the Rockwell Museum in Corning, New York. She currently is a Director of the Alternative School for Math and Science, a private middle school located in the Corning area, a Director on the Board of the Finger Lakes Land Trust, and a Director on the Board of The Elmira Savings Bank.
