Family Offices In Germany: What About Women?

Women to Success

A 2020 study by Family Office Research UG showed that in all the family offices surveyed, a total of 562 companies, there were one or more female executives in 103 cases. This corresponded to 18%. The remaining 459 (82%) companies employ exclusively male managers.

Quota supporters emphasize that it is not just about equality between women, but also about certain diversity effects. A mixed neighborhood or leadership of men and women has a positive impact on the dynamics and prospects for success of groups. Thus, the success of teams increases with heterogeneity.

Situation in Germany

In 2020, German family offices have not cut well in terms of women’s share in their leadership. “The 562 surveyed family offices have a total of 1096 managers. Of the 1096 managers, 117 are female and 979 are male. The share of women managers is approximately 11% of the total number. Companies with two or more female managers are found only in 13 (out of 562) cases. In the United States, the share of women executives reaches 20%, according to research by Consulting-Group Agreus.

In only three cases, the management is solely for several women. Of the 36 German family offices with four or more managers, about 70% do not have a single woman in the management team.

However, the family offices are experiencing some resentment with regard to women’s leadership. Michaela Neuner and Panja Weckerlein, Managing Directors of TETRIS Grundbesitz GmbH & Co.KG, say: “But we do not see this as a disadvantage and it is still due to history, since many family offices were founded by the fathers in the post-war period and were traditionally continued by male heirs. At that time, the traditional role distribution was quite common.” With the generation change, the situation is expected to gradually improve, as fathers also rely more and more on their daughters or men on their wives.