140: Roger King, founder of Tanoto Asian Family Business and Entrepreneurship Studies at HKUST

Dr. Roger King is an adjunct professor of finance at the Hong Kong University of Science and Technology. He’s one of the founding directors of the Tanoto Center for Asian Family Business and Entrepreneurship Studies and of the Thompson Center for Business Case Studies at the University as well. Roger is a seasoned businessman in his own right, known as the “company doctor” for his ability to turn sick businesses into thriving ones. He also comes from one of the most prominent families in Hong Kong and is the brother-in-law of Hong Kong’s very first Chief Executive Tung Chee-hwa.

In today’s episode, we learn about his upbringing. Born in the US to Chinese parents, his family returned to China just before the Communist Revolution, then returned to the US (for interesting family dynamic reasons), even though his father was unable to find a job worthy of his experience and knowledge. It’s a story of twists and turns, one that molded Roger into the family-focused, savvy businessman he is today.

In our discussion, we delve into family offices and the family dynamics that exist within wealthy families. We get into the practical nitty gritty of how to prevent familial squabbles; how to involve all the descendents in various family-related activities (not necessarily related to the business); how to choose a successor; how to help the family business evolve and stay relevant; and what to do when the children aren’t interested in the family business at all. 

In today’s episode you’ll learn:

• About Roger’s American and Chinese upbringing
• About Asian family business offices
• What, besides wealth, a family office should try to preserve
• What to look for in a successor
• Why the first-born child might not be the best choice for a family business successor
• How to prevent family squabbles over financial matters
• What to do when children are not interested in the family business