Media release - 17^th December, 2013

Raine & Horne CEO passes baton to new generation of family business owners

Angus Raine, Executive Chairman and CEO of Raine & Horne, is stepping down as a member of Family Business Australia’s NSW Committee after a successful 13-year stint.

The FBA is the peak body for the family business sector, which accounts for around 70 percent[i] of all Australian businesses and employs 50 percent of the private workforce.[ii]

Angus Raine Mr Raine, the fourth generation of the family to run the 130-year old real estate firm, was part of a group of dedicated family business owners who contributed greatly to the growth and development of FBA in NSW, according to Philippa Taylor, CEO of Family Business Australia.

In 2012, for example, Mr Raine made a significant contribution to the Senate Inquiry into Family Business in Australia.

“Angus was part of an FBA delegation, which included a number of iconic family businesses, that visited Canberra on National Family Business Day to remind government about the significant contribution family businesses make to the Australian economy,” says Ms Taylor.

“As a result of this delegation, a Senate inquiry was established and Angus was a major contributor to the 21 recommendations handed down by the inquiry.”

Mr Raine was also a regular guest speaker at FBA events – and an entertaining MC.

To commemorate Mr Raine’s contribution, FBA recognised him with a special award at its recent Hall of Fame evening held in late November. Raine & Horne was inducted into the FBA Hall of Fame in 2012.

After 13 years, Mr Raine is satisfied with his contribution to FBA and believes the time has arrived to pass the baton to the next generation of family business owners.

“I am proud of the achievements of FBA and the contribution we’ve made to the family business sector, which was valued at more than $4 trillion, and represents a figure that governments of all persuasions should ignore at their peril,” says Mr Raine.

The Raine & Horne chief also urges those family businesses seeking long-term success, or who are in the process of succession planning, to pursue the advice and learning pathways at FBA.

“Along with invaluable peer learning, FBA Accredited Advisers, who specialise in family business, can provide assistance with generational change issues and succession planning,” he adds.

–ENDS–

For further media information contact:

Angus Raine, Executive Chairman / CEO Raine & Horne on 02 9258 5422 and 0409 920 697

Andrew Harrington, National Marketing & Communications Co-ordinator on 02 9258 5400

[i] http://www.uvm.edu/business/vfbi/documents/2009FBAKPMGAustralianFamilyBusinessSurvey.pdf

[ii] http://www.fambiz.org.au/

Raine steps down from family business peak body after 13 years