With the number of family offices growing in the US and the rest of the world, there is a demand for institutions that are able to fine-tune the skills and develop the ideas that will help families and executives weather major wealth events.
The
University of Chicago Booth School of Business has appointed
Robert Stover, Jr (main photo) as the inaugural executive
director of its Family Office Initiative (FOI).
Stover has more than 30 years’ experience advising family
enterprises, family offices, their principals and family members
across North America, Europe, Asia-Pacific and Latin America.
“Chicago Booth has long been a leader in rigorous thinking and
practical insight, and its Family Office Initiative is uniquely
positioned to support principals and executives as they make
decisions that will span generations,” Stover said in a
statement.
Booth’s FOI was founded in October 2024. The organization says it
is one of the first major academic institutions in the country to
implement a comprehensive program to support family office
leaders, making the school a pathbreaker in this space.
The rise of such establishments speaks to the growing demand for
venues where industry professionals and the families they serve
can develop knowledge and insights. According to some
measures, there are north of 8,000 family offices worldwide. The
multi-trillion dollar intergenerational wealth transfer taking
place that is also creating much of the need for such
institutions.
“Chicago Booth’s Family Office Initiative offers a differentiated
approach through unparalleled global engagement, collaborative
learning, and research-driven thought leadership,” John C Heaton,
the Myron S Scholes Distinguished Service Professor of Finance
and Anthony Pritzker Family Foundation – Family Office Initiative
faculty director, said. “Bobby’s impressive background and
expertise will support us as we continue to grow this world-class
program and advance our impact on current and future family
office leaders around the world.”
Stover retired from Ernst & Young, LLP (EY) in 2025 as co-global
family enterprise leader and Americas family enterprise and
family office leader. During his tenure, Stover created and led
platforms including the EY Family Enterprise DNA framework, the
Family Enterprise Summit, and built the Family Office Advisory
Services practice.
In support of its networking efforts, Booth’s second annual FOI
Summit will take place this month in Chicago.