Effective governance is critical to the successful development of a family business. Discover the recommendations of GUBERNA, the Institute for Board Members, and how ING bankers can help you.
"}},{"componentType":"testimonial","testimonialList":[{"authorInfo":{"authorName":"Liesbeth De Ridder","image":{"extension":"jpg","original":"https://assets.ing.com/m/74eb0411d34ee858/original/Liesbeth-Dr-Ridder_Gunberna.jpg","transformBaseUrl":"https://assets.ing.com/transform/80c52cd2-f098-4085-a6eb-2223887f2a44/Liesbeth-Dr-Ridder_Gunberna","type":"image","width":4000},"jobTitle":"Secretary General of GUBERNA"},"testimonialText":{"body":"Like in a marriage, unity within a family business is mainly achieved on the shareholder level. It takes time."}}]},{"componentType":"paragraph","richBody":{"value":"All family businesses have an emotional dimension that is rooted in their history and culture. This legacy is instrumental to the development of a family business.
Liesbeth De Ridder, Secretary General of GUBERNA, also the knowledge centre for good governance, explains.
"}},{"componentType":"sectionTitle","title":"Some recommendations for developing shareholder engagement."},{"componentType":"paragraph","richBody":{"value":"For Liesbeth, the first pitfall you need to avoid is wanting to do everything yourself. “Often family businesses have a board of directors, albeit on paper. However, the directors are family members or close friends who may not have all the required skills. My advice is to define profiles that can add value to the company. ”
"},"title":"Review the composition of the Board of Directors"},{"componentType":"paragraph","richBody":{"value":"Second tip: draw up a family charter, which sets out the rules for members of the shareholder family. Who can work in the company, and under which conditions?
“The family charter is essential because it anticipates problems and guarantees some degree of objectivity,” says Liesbeth De Ridder. We are not used to discussing sensitive subjects in our culture. Thanks to the charter, each board member can express their views. It also enables the family to agree on specific points. ”
Setting up a family forum is another recommendation. “This is an informal gathering of shareholders. The aim is to maintain what is known as ‘affectio societatis’ (a common desire of two or more people to form a legal entity). This should be convened at least twice a year. ”
Many families combine a meeting with a company visit or a presentation of a new investment by the CEO. The best practice is to include as many generations as possible, in particular the next generation and children-in-law, so they can also establish a link with the family business. “I am in favour of inclusive ownership where everyone feels valued, knows how things work, and is kept informed. ”
In some families, where there is a large number of shareholders, a family council is also set up. This body enables representatives of the various branches to discuss and make decisions on matters that are considered essential on the shareholder level (dividend policy, diversification projects, etc.).
“On a more formal level, the family council is similar to a family executive committee, where common points of view are discussed and approved before being communicated to the board of directors”, Liesbeth De Ridder adds.
"},"title":"The forum or family council"},{"componentType":"sectionTitle","title":"The family business, ING’s business"},{"componentType":"testimonial","testimonialList":[{"authorInfo":{"authorName":"Nathalie De Taeye","image":{"extension":"jpg","original":"https://assets.ing.com/m/5d1ec9f28746b8dc/original/Nathalie-De-Taeye.jpg","transformBaseUrl":"https://assets.ing.com/transform/9dcd793a-4fb5-4ae1-b47a-c2b01c4bb3a8/Nathalie-De-Taeye","type":"image","width":5441},"jobTitle":"Head of Private Banking & Wealth Management Wallonia"},"testimonialText":{"body":"Supporting family businesses and their shareholders has always been part of ING’s DNA."}}]},{"componentType":"paragraph","richBody":{"value":"Nathalie Bertrand and Nathalie De Taeye, the bank’s heads of Business Banking and Private Banking & Wealth Management for Wallonia, elaborate on the bank’s strengths.
“What sets us apart from other banks is ING’s ability to combine the skills of its Business and Private bankers and develop an integrated approach to the relationship. The two departments work together to support family businesses on every level, i.e., with financing, growth, sustainability, transfer, succession, shareholding strategy, asset management, etc.”
"}},{"componentType":"sectionTitle","title":"Governance: a necessity and a guarantee of stability"},{"componentType":"testimonial","testimonialList":[{"authorInfo":{"authorName":"Nathalie Bertrand","image":{"extension":"jpg","original":"https://assets.ing.com/m/5d81136cefdba72c/original/Nathalie-Bertrand.jpg","transformBaseUrl":"https://assets.ing.com/transform/81306029-825f-472d-bdbd-6b526f8d632f/Nathalie-Bertrand","type":"image","width":2400},"jobTitle":"Head of Business Banking Wallonia"},"testimonialText":{"body":"Having an adequate governance structure in place is essential for family businesses"}}]},{"componentType":"paragraph","richBody":{"value":"It improves operational practices, the quality of management, and the transparency of financial communication. Companies with good corporate governance are more likely to attract financing because this serves as an indicator of stability and reliability. ”
ING helps family businesses build their governance. “We regularly organise seminars for entrepreneurs and directors who are also shareholders so they can make the best strategic decisions. ”
"}},{"componentType":"sectionTitle","title":"Preparing for every eventuality"},{"componentType":"paragraph","richBody":{"value":"“Governance means planning ahead and ensuring that companies have well-structured management bodies to guarantee business longevity,” stresses Nathalie De Taeye.
Private bankers tend to advise on shareholder strategy as part of good governance. “We are mainly called in when a shareholder is approaching retirement and wonders whether they should pursue a growth strategy and remain active, sell the company to one or more of their children, or sell it to a third party. Thanks to the strength of our internal and external network, we can put our customers in touch with potential candidates in the latter case. We proactively raise several questions with our clients: what are the risks associated with the disappearance of an active shareholder? What is the impact on the company, shareholders, and family?
Family shareholders - who are Private Banking & Wealth Management clients of ING - can also count on the expertise of the Wealth Analysis and Planning team. These legal experts can advise them on wealth and succession planning.
"}},{"componentType":"sectionTitle","title":"Training the next generation"},{"componentType":"paragraph","richBody":{"value":"To prepare the next generation for taking the helm, ING has created its own Next Gen Academy. “This 6-month training programme covers various topics, including governance, with training provided by internal and external experts”, the two executives explain.
"}},{"componentType":"sectionTitle","title":"Do you have any questions about your company’s governance?"},{"componentType":"paragraph","richBody":{"value":"Our Relationship Managers, Private Bankers and Wealth Planners are the most suitable contacts to discuss it with.
"}},{"componentType":"sectionTitle"},{"cards":[{"cardSize":"small","cardType":"service","componentType":"serviceCard","image":{"extension":"png","original":"https://assets.ing.com/m/6e6f3de4c512a23f/original/Fingerprint-phone-hand-spot.png","transformBaseUrl":"https://assets.ing.com/transform/4c8f79aa-f653-430e-bd15-7a94e7640b59/Fingerprint-phone-hand-spot","type":"image","width":615},"intro":"Contact your Private Banker via the ING Banking app!","link":{"url":"/en/private-banking/contact/contact-us-private-banking"},"title":"Already an ING Private Banking client?"},{"cardSize":"small","cardType":"service","componentType":"serviceCard","image":{"extension":"png","original":"https://assets.ing.com/m/7e02e75f5d5f534d/original/icon-Video-call-woman-spot.png","transformBaseUrl":"https://assets.ing.com/transform/67010ed0-a27d-4c66-b37c-a6bfb9a308c2/icon-Video-call-woman-spot","type":"image","width":847},"intro":"Leave us your details and we will get back to you!","link":{"url":"https://www.ing.be/en/individuals/services/contact-us-appointment?journey=invper&flow-step=call-me-back"},"title":"Want to find out more about Private Banking?"},{"cardSize":"small","cardType":"service","componentType":"serviceCard","image":{"extension":"svg","original":"https://assets.ing.com/m/42ebb9a214caa287/original/phone.svg","transformBaseUrl":"https://assets.ing.com/transform/07e87ec5-eb62-4d76-a006-e21b950e16b6/phone","type":"image","width":160},"intro":"Find the right contact option","link":{"url":"/en/business/services/contact-us"},"title":"Contact us"}],"componentType":"cards"},{"componentType":"sectionTitle"}]},"hasMacro":false,"id":"e0452d7f-425d-4ae0-9600-be5d80335310","localeString":"en-GB","mainHeaderZone":{"backLink":{"textLink":{"text":"Our integrated expertise for entrepreneurs","url":"/en/private-banking/family-business"}},"componentType":"editorialHeader","coreHeader":{"headerImage":{"extension":"jpg","original":"https://assets.ing.com/m/5149084f5411452/original/Goede-corporate-governance.jpg","transformBaseUrl":"https://assets.ing.com/transform/01f2eb69-116f-4c6d-a079-f378168b352f/Goede-corporate-governance","type":"image","width":5873},"title":"How to ensure good corporate governance?"},"date":"2025-05-23","readingTime":5},"publishDate":"2025-06-16T14:47:31.732+02:00"}}