The Interview Part 1: Ilias Georgopoulos on Family Offices
Posted on 07/07/2023
Ilias Georgopoulos has over 27 years’ financial services experience, including senior leadership roles since 2007 with responsibilities spanning across the U.S., EMEA and APAC. Ilias mostly held regulated positions throughout his career. Most recently, he was CEO of Credit Suisse’s 3rd party IFM in Luxembourg, where he was responsible for the overall governance, for driving growth initiatives, supporting on cross-product development and enabling service evolution. Previously, Ilias was Global Head of Relationship Management, Sales and Marketing at Alter Domus, and before that Member of the Executive Committee of RBC Investor Services Bank SA as Managing Director, Head of Sales & Relationship Development. Ilias started his financial services career at State Street, after an on the ground experience to the family Maritime brokerage business in his native Athens-Greece. Ilias is passionate about traditional Mediterranean agriculture and admirer of nature’s ecosystem equilibrium.
Are Family Offices Similar to Sovereign Wealth Funds?
We’re seeing a real shift among family offices into the domain of sovereign wealth funds (SWFs), where they are often finding themselves looking into the same investment targets. The reason behind this is a similar objective: the preservation and protection of wealth for future generations.
Please elaborate on the specifics of the similarities.
Just like SWFs, family offices have significant dry powder, and can bring sizeable sums of capital to the table to support larger deals and, in most cases, are faster to put money down than private equity firms. They have longer-term investment horizons and can direct their money without the worry of fund expirations and the need for immediate growth. And for many, this is bolstered by their experience in operating multinational companies with success.
What is the new Asset Owners Segment?
In line with this convergence between family offices and SWFs, IQ-EQ has structured an “Asset Owners” segment which includes both private and institutional asset owners. In making this evolution, we’re bringing together what we see as two main types of wealth holder, recognizing the increasing sophistication, institution-like practices and service expectations of ultra-high-net-worth (UHNW) families and their family offices and the fact that private and institutional asset owners are more aligned than ever before.
How will Family Offices shift the investment landscape in the coming years?
As family offices become more and more sophisticated, they’re becoming a real force to be reckoned with, increasingly actively managing their allocations like asset managers do but with greater flexibility in their investment horizons.
How are Family Offices positioned in our current climate?
Family offices are defensively positioned amid market volatility. With inflation high, central bank liquidity flagging and interest rates rising, family offices are reviewing their strategic asset allocation. Their allocations to alternatives have increased considerably over the past years as they have increased investments in private equity, real estate, hedge funds and private debt.
Ilias Georgopoulos
IQEQ
Global Head of Private & Institutional Asset Owners
E ilias.georgopoulos@iqeq.com
T +352 466111 4630
M +352 621 217 473
As Group Head of Private and Institutional Asset Owners, Ilias drives our strategy, our market & client understanding as well as the value creation for our clients through a focussed relationship and servicing model. The resulting Asset Owners global approach is an integral component of IQEQ utilising the complete cross-segment capabilities for an optimised delivery model. Our market understanding and servicing level are recognised at the highest standards by our clients and the market.
Professional – Personal
Ilias has over 27 years’ financial services experience, including senior leadership roles since 2007 with responsibilities spanning across U.S., EMEA and APAC. Ilias mostly held regulated positions throughout his career. Most recently, he was CEO of Credit Suisse’s 3rd party IFM in Luxembourg, where he was responsible for the overall governance, for driving growth initiatives, supporting on cross-product development and enabling service evolution. Previously, Ilias was Global Head of Relationship Management, Sales and Marketing at Alter Domus, and before that Member of the Executive Committee of RBC Investor Services Bank SA as Managing Director, Head of Sales & Relationship Development. Ilias started his financial services career at State Street, after an on the ground experience to the family Maritime brokerage business in his native Athens-Greece. Ilias is passionate about traditional Mediterranean agriculture and admirer of nature’s ecosystem equilibrium.
