MON 22ND MAY 2017

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Bringing the family business community together

Another Day In The Family Office

Alex Scott

Position: Executive Chairman

Company: SandAire

Sector: Professional Services

 

Business Address: 105 Wigmore Street, London W1U 1QY

 

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Company Description

SandAire is a family investment office created from the sale of the original family business.  Chairman Alex Scott shares his thoughts on the family firm.

Question & Answers with Alex Scott

What Does Your Family Business Do?

SandAire is a family investment office, responsible for the investment of assets for a select group of families who have joined us since its creation.

We provide ‘family office’ services over and above our core investment service which are summarized in our approach: ‘More to Wealth’.  

We created the business following the sale of our original business, Provincial Insurance, founded in 1903.  I led the sale of that company in 1994 and founded SandAire in 1996.

How Did You Get Involved?

Initially I pursed a career outside the family business and during that time I was approached and asked if I would serve as a non-executive director. Subsequently, I was asked to succeed my cousin who was the Chairman.  

What Did You Want To Be When You Grew Up?

Archaeologist.  Still do.

What Are Your First Memories Of The Family Business?

My father was Chairman – I remember Directors coming for dinner to our home.

What Values Are Important In Your Family/Family Business?

Humility, Fairness, Integrity.

What Is The Best Thing About Being A Family Business?

Having owners of our business whom I know and like.

And The Worst?

Having owners of our business whom I know and like.

What Is The Best Thing About Your Working Day?

A feeling that I get during an important meeting that says ‘yes; this is going to work!’

What Is Your Proudest Family Business Achievement?

SandAire was a start-up following the sale of our previous business. We have turned an idea into reality in a ferociously competitive sector.  As a result we now have over 60 employees in our group of companies and I am proud to a) call these people my colleagues and b) that our efforts have created these jobs.

Is There A Next Generation Waiting In The Wings To Take Over?

Yes – through governance and employment though I am not dynastic in aspiration.

What Do You See As The Biggest Challenge Facing Family Businesses?

Emphasizing the positives, diminishing the negatives

What Words Do You Associate With Family Businesses?

Stability, longevity, passion, commitment, alignment.

Words Of Wisdom – What Piece Of Advice Would You Pass On To Someone Thinking About Joining The Family Business?

Think very carefully – is this the best use of your talents?  Can you achieve your professional and personal potential here? Do you think you will be happy? 

 

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