Senior economists and think tanks have urged Chancellor of the Exchequer Rachel Reeves to introduce an “exit tax” on the wealthy to raise as much as £500 million ($650 million) a year and discourage departures.

The Frankfurt-based bank is setting up a division that caters to family offices and ultra-high-net-worth clients under Sebastian Ahlhorn. Commerzbank will also add teams to cover those clients in Hamburg and Stuttgart, adding two locations to the existing four.

When Francesc Gallés opened a bakery in 1862, little could he have imagined that three generations of his family would be running one of Europe’s biggest frozen bread giants, with operations in 80 countries. 

The heirs to a centuries-old Belgian automotive empire were elevated to vice chairmen of their family’s eponymous company, D’Ieteren Group, about a decade ago. But the parity lasted just three years

LVMH and the organizers of the Formula One races have signed a major sponsorship deal potentially worth $1 billion, with the French luxury goods group taking over from Rolex.

For nearly two decades, CV Advisors has gradually grown its business in Miami by courting mostly ultra-rich Latin American families looking for ways to shield their fortunes from upheaval.