The Family Office in a Fragmented World: Why Talent and Structure Matter More Than Ever
The recent Julius Baer Family Barometer report captures a defining moment for global wealth. Against a backdrop of geopolitical tension, regulatory fragmentation and growing cross-border complexity, ultra- high-net-worth (UHNW) families are rethinking not only where their wealth sits, but how it is structured, governed and managed.
What emerges clearly is a shift away from viewing wealth management as a purely technical exercise. Instead, families are increasingly focused on stewardship — on building structures, teams and governance frameworks that can endure across generations. In this environment, the role of the family office, and the people who run it, has never been more important.
From capital preservation to long-term stewardship
One of the most striking findings in the Family Barometer paper is the rise of “building family legacy” as a top global priority. Alongside succession planning and governance, it reflects a deeper evolution in mindset: wealth is no longer seen simply as something to preserve or grow, but something to organise thoughtfully and pass on responsibly.
This shift is taking place against a backdrop of increasing international complexity. More than 80% of UHNW families now have connections to multiple countries, and over a third hold assets in three or more jurisdictions. These realities introduce layers of tax, regulatory and operational risk that require far more than ad-hoc advice.
As a result, the family office is increasingly viewed as a strategic hub — a coordinating centre that brings together governance, oversight, reporting and long-term planning. For many families, this evolution naturally leads to more deliberate thinking around leadership and, ultimately, family office recruitment.
Complexity is driving professionalisation
The Barometer highlights that cost, complexity and perceived scale remain key barriers preventing some families from establishing a fully fledged single family office. Yet paradoxically, these same forces are driving greater professionalisation.
Many families are responding by adopting hybrid or phased models, combining in-house leadership with outsourced expertise. These arrangements allow families to retain control while accessing specialist support in areas such as tax, legal, investment management, reporting and cybersecurity
.Even within these models, however, success depends heavily on the calibre of individuals overseeing the structure. This is where family office recruitment becomes critical particularly when making a senior hire such as CEO or CFO as families increasingly recognise that the right hire can provide coherence across advisers, structures and jurisdictions.
The growing importance of people, not just structures
Throughout the Barometer, themes of governance, continuity and long-term thinking recur. These are not abstract concepts — they are delivered by people.
Modern family offices increasingly rely on senior professionals who combine technical competence with judgement, discretion and emotional intelligence. Roles such as Head of Family Office, COO, Chief of Staff or CIO now sit at the crossroads of strategy, execution and relationship management.
As responsibilities expand, recruitment decisions are becoming more nuanced. Families are no longer simply looking for technical specialists, but for individuals capable of acting as trusted counterparts — people who can interpret complexity, manage advisers and support principals through periods of transition. This broader evolution in expectations is explored further in our article Beyond the Family, which looks at how roles inside family offices continue to widen in scope.
Hybrid models and the rising leadership burden
The Family Barometer highlights the growing prevalence of hybrid family office models. These structures — part in-house, part outsourced — offer flexibility and cost efficiency, but they also increase the leadership burden on internal hires.
In practice, hybrid models often depend on a small number of senior individuals who act as integrators: coordinating external advisers, maintaining oversight and ensuring coherence across investment, governance and reporting. This orchestration role requires breadth of experience, confidence and sound judgement.
As a result, hiring for family offices increasingly focuses on individuals with cross disciplinary backgrounds — professionals who have operated across family offices, professional services, investment firms or advisory environments, and who are comfortable working without rigid hierarchies or predefined playbooks.
A global talent market for global families
The Barometer reinforces how international the modern family office has become. Asia, the Middle East and Europe continue to emerge as key hubs, reflecting global mobility and shifting centres of wealth. Jurisdictions such as Singapore, Italy, Switzerland, Channel Islands, United Arab Emirates (Abu Dhabi and Dubai) and to a lesser extent London remain attractive bases for internationally mobile families.
This globalisation has direct implications for family office recruitment. Searches are increasingly cross-border, with families open to hiring internationally where experience and cultural fit align. Exposure to multiple regulatory regimes, comfort working across time zones, and cultural fluency are now highly valued attributes.
These dynamics mirror broader trends discussed in our article on billionaires leaving the UK and the implications for family office recruitment, where mobility, policy uncertainty and lifestyle considerations are reshaping how and where families build their teams.
Recruitment as a strategic lever
One of the quieter themes running through the Family Barometer is that families are thinking more carefully and further ahead about how their affairs are organised. There is a growing recognition that decisions made today — particularly around people — have long term consequences.
Recruitment therefore plays a more significant role than it once did. Appointing the right individual can bring structure, clarity and continuity to a family office, helping it function more effectively over time. Equally, a poorly judged hire can introduce friction or instability that is difficult to unwind.
In this sense, family office recruitment is less about filling a role and more about shaping how the office operates day-to-day — how decisions are taken, how advisers are coordinated, and how responsibility is carried across generations.
Looking ahead in 2026
The Family Barometer report makes one thing clear: complexity is no longer cyclical, it is structural. Political uncertainty, regulatory change and global mobility are now permanent features of the landscape.
In response, families are investing not only in structures and strategies, but in people. Leadership, judgement and alignment are becoming the defining assets of resilient family offices.
As family offices continue to evolve, the ability to attract, assess and retain the right individuals will remain central to long-term success. In an increasingly fragmented world, well executed recruitment has become one of the most important tools available to families seeking continuity, resilience and long-term clarity.
This article is written by Paul Avon, Founder of True House Partners. True House Partners specialises in recruitment for single family offices worldwide. For more information, please visit our family office recruitment section of this website. For a confidential discussion, please call +44 (0)20 7846 0025 or email contact@truehousepartners.com.