Written by Gérard Al-Fil, Dubai

According to Lombard Odier’s 2025 GCC Succession Planning Survey, the next generation favours a different approach, with 79% of those surveyed stating their intention to change from their parents’ wealth advisor. The report explores succession readiness and the evolving challenges Gulf families face as they prepare to transfer wealth to the next generation.

No Ad Hoc Business

In the UAE, 30 percent of respondents view succession as something to address in the future rather than a current priority. In Saudi Arabia, this figure is nearly 60 percent. Ali Janoudi, Head of New Markets at Lombard Odier, said, «Succession is not something that happens all at once. It is a gradual process that takes time, clarity and trust across generations. What we are hearing from families is not hesitation, but a need for space to plan with intention and the right structures to support that journey.»

The survey reveals that 49 percent of the high-net-worth families in the region without a succession plan continue to postpone the process. The study by the Swiss lender reflects the views of 300 high-net-worth individuals (HNWIs) residing in the Gulf countries United Arab Emirates (UAE), Saudi Arabia, Qatar, Kuwait and Bahrain.

Fewer than 1 in 5 family businesses in the Gulf region have a comprehensive succession plan in place, with intergenerational frictions cited as the main reason. In addition, fewer than one in six family businesses in the region have a formal governance framework in place to support a smooth leadership transition, finds the assessment. 

Family Ties Hold

However, there is strong optimism despite these barriers. Over nine in ten respondents from the older generation (96 percent) and the next generation (93 percent) expressed confidence in the next generation’s ability to take on leadership.

Lombard Odier, though, regards it as a «promising trend» that there is a growing adoption of family offices. More than half (55 percent) of high-net-worth families have established a family office, rising to four in five among those running active businesses. Tax optimisation (47 percent) and succession planning (44 percent) were cited as the top reasons for having a family office.

Janoudi: «Families today are looking for advisors who can support both the financial and emotional dimensions of wealth – combining technical expertise with the softer skills needed to facilitate open dialogue, build trust, and ensure continuity across generations.»

In the biggest Gulf Arab state, Saudi Arabia, nearly 70 percent of respondents said they have a family office, with 62 percent structured as single-family entities. In the UAE, 50 percent of respondents have a family office, almost half of which are single-family structures. 

Rising Role of Women 

Another light on the horizon is the growing share of women in family-owned entities. One in three families now include women in senior leadership, with strong benefits reported across innovation (58 percent), governance (45 percent), and generational collaboration (45 percent). In the UAE, almost one-third of families actively include women in leadership roles, while in Saudi Arabia the figure rises to 44 percent. Earlier in the year, a report this year by Henley and Partners showed that as of early 2025, the UAE’s business metropolis Dubai has more than 81,000 millionaires, 237 centimillionaires and 20 billionaires. Some famous women entrepreneurs in the UAE include beauty guru Huda Kattan (Huda Beauty), e-commerce leader Mona Ataya (Mumzworld), and serial entrepreneur Sara Al Madani.

This led Lombard Odier's Janoudi to conclude that «The question is no longer whether the next generation is ready, but whether we are doing enough to prepare them. That means moving beyond just protecting assets. It is about preserving purpose, values and relationships.»