According to the Asian Business Families Succession Research Survey Report 2013 by SMU and Deloitte, succession is becoming an increasingly pressing issue as many Asian high net worth and ultra-high net worth families transition their businesses to the next generation. SMU Vice President, Business Development & External Relations, Associate Professor Annie Koh said "We are starting to hear from families in both North and South Asia that the issue of succession has come to a critical stage as many owners of large Asian businesses are transitioning into their second and third generation". Associate Professor Koh is also the Academic Director for the Business Families Institute at SMU.