Rockefeller Capital Management
Rockefeller Capital Management is an independent, privately owned wealth management and financial services firm, founded in 2018. It was created when Viking Global Investors acquired majority ownership of the Rockefeller family private investment office Rockefeller & Co., which was launched in 1979 as a multi-family office and had previously been the Rockefellers' single-family office since 1882. The firm offers family office, asset management, and strategic advisory services to ultra-high-net-worth individuals and families, institutions, and corporations. Its president and CEO is Greg Fleming.
The firm is headquartered in Rockefeller Plaza in New York City,[1] and has satellite offices around the U.S.[2]
Company history
In October 2017, Rockefeller Financial Services, the parent company of Rockefeller & Co., announced the imminent creation of Rockefeller Capital Management,[3] and the appointment of former Wall Street executive Greg Fleming as its founding CEO.[1] The new firm Rockefeller Capital Management resulted from the acquisition by Viking Global Investors of a majority stake in Rockefeller & Co., a wealth-management multi-family office and registered investment adviser firm set up by the Rockefeller family in 1979[1] when the original money-management family office launched by John D. Rockefeller in 1882 started taking in outside money.[4]
The acquisition was completed, and Rockefeller Capital Management began operations, in March 2018.[5] Fleming began aggressively recruiting[6] financial advisor teams,[7] brokers,[8] investment bankers,[9] and executives[7] from the major Wall Street full-service brokerage firms.[7] He also made acquisitions,[10] and opened branch offices in cities across the U.S.[11][12] By the end of 2020, the firm had 19 offices in 14 states and oversaw more than $69 billion in client assets.[13]
In the fall of 2019, Rockefeller Capital Management acquired Financial Clarity, a multi-family office wealth-management firm in Silicon Valley.[14] In early 2021, it acquired Whitnell & Co., a wealth management, multi-family office services, and registered investment adviser firm headquartered in the Chicago area,[15] from Associated Banc-Corp.[16]
Services
The firm offers services in three categories: global family office, which also includes wealth management;[17] strategic advisory; and asset management.[18] Global family office services include multi-generational wealth management, planning, and accounting; investment advisory; and private banking and lending.[19] Strategic advisory services include investment banking and corporate banking such as mergers and acquisitions.[19] Asset management services include long-only investments across global equities and fixed-income investments, and environmental, social, and corporate governance (ESG) investing.[19]
Sustainability investing
In March 2018, Rockefeller Asset Management, a division of Rockefeller Capital Management, joined the United Nations Environment Programme Finance Initiative, stating that its investment approach is to identify a concentrated long-term portfolio emphasizing environmental, social, and governance (ESG) factors.[20] In May 2019 it launched two ESG-driven investment funds: the Rockefeller US ESG Equity Fund; and the Rockefeller Global ESG Equity Fund, a UCITS fund domiciled in Europe.[21] In January 2021 Rockefeller Asset Management, in partnership with Bloomberg, launched the Bloomberg Rockefeller U.S. All Cap Multi-Factor ESG Improvers Index, which ranks a company's improvement on ESG issues relative to industry peers, while also taking quality and low volatility into account, in addition to incorporating shareholder engagement techniques.[22][23]
Governance
Former Wall Street senior executive Greg Fleming is the founding president and CEO of the company.[24][25]
Members of the firm's board of directors include John J. Brennan, Andrea Jung, Rochelle "Shelly" Lazarus, Paul Myners, and Derek Jeter.[26][27] CEO Fleming also serves on the board, as do two members of the Rockefeller family, David Rockefeller Jr and Peter O’Neill.[28]
The firm is majority owned by the private-equity arm[7] of Viking Global Investors,[4] and Viking portfolio manager Brian Kaufmann is on the Rockefeller Capital Management board.[27] Approximately 10% the firm is owned by Rockefeller family members,[4] and Fleming[4] and other members of the firm's management hold stakes as well.[14][7]
References
- ↑ 1.0 1.1 1.2 Keoun, Bradley (November 15, 2017). "Perennial Wall Street Runner-Up Greg Fleming Is Now Rockefellers' Money Man". TheStreet. Retrieved February 19, 2021.
- ↑ "Contact Us". Rockefeller Capital Management. Retrieved February 22, 2021.
- ↑ McLannahan, Ben (October 4, 2017). "Greg Fleming returns with Rockefeller-backed asset manager". Financial Times. Retrieved April 6, 2021.
- ↑ 4.0 4.1 4.2 4.3 Hoffman, Liz (October 4, 2017). "Derek Jeter's Banker Joins Rockefellers in New Wall Street Venture". Wall Street Journal. Retrieved February 21, 2021.
- ↑ Garmhausen, Steve (March 1, 2018). "Rockefeller Capital Management Opens, Chasing $100 Billion". Barron's. Retrieved February 21, 2021.
- ↑ Diamond, Mindy. "First Republic Private Wealth Management And Rockefeller Capital Management: What Makes Them So Appealing To Top Financial Advisors?". Forbes. Retrieved April 6, 2021.
- ↑ 7.0 7.1 7.2 7.3 7.4 Ungarino, Rebecca (July 27, 2020). "Greg Fleming's $43 billion Rockefeller Capital has hired 19 adviser teams from top wealth firms in 7 months. Execs lay out where it's focused next". Business Insider. Retrieved February 21, 2021.
- ↑ Wenik, Ian (September 4, 2019). "Rockefeller adds Morgan Stanley duo in NYC". Citywire. Retrieved February 21, 2021.
- ↑ McElhaney, Alicia (October 4, 2017). "Former Morgan Stanley Executive to Expand Rockefeller Capital Management". Institutional Investor. Retrieved March 27, 2021.
- ↑ Morris, Meghan (October 12, 2018). "Ex-Morgan Stanley rainmaker Greg Fleming's new firm is putting in place 'the building blocks' to reach $100 billion in assets — and it's just made its biggest move yet". Business Insider. Retrieved February 22, 2021.
- ↑ Higgins, James (December 17, 2018). "Firm with ties to famous financial family chases talent and wealth in S.F." San Francisco Business Times. Retrieved February 22, 2021.
- ↑ Ungarino, Rebecca (January 7, 2021). "Greg Fleming's Rockefeller is eyeing more deals like the $1.4 billion wealth firm it's buying. Its family office head lays out its aggressive cross-country push". Business Insider. Retrieved February 21, 2021.
- ↑ Dalal, Khyathi (January 5, 2021). "Associated Banc-Corp divests wealth management subsidiary Whitnell to Rockefeller Capital". Seeking Alpha. Retrieved February 22, 2021.
- ↑ 14.0 14.1 Cao, Sissi (September 19, 2019). "Rockefeller Family Deepens Ties in Silicon Valley Through Elite Merger". The New York Observer. Retrieved February 22, 2021.
- ↑ Wenik, Ian (January 6, 2021). "Rockefeller to buy $1.4bn Chicago-area RIA". Citywire. Retrieved February 22, 2021.
- ↑ Lahiri, Anusuya (January 6, 2021). "Rockefeller Capital Buys Whitnell From Associated Banc-Corp; Shares Rise 3%". Nasdaq. Retrieved February 22, 2021.
- ↑ "Rockefeller Global Family Office". Rockefeller Capital Management. Retrieved February 22, 2021.
Rockefeller Capital Management has put the family office and private wealth together seamlessly.
- ↑ Avery, Helen (February 6, 2019). "Wealth management: The Next Generation". Euromoney. Retrieved February 22, 2021.
- ↑ 19.0 19.1 19.2 "Our Services". Rockefeller Capital Management. Retrieved February 22, 2021.
- ↑ "Rockefeller Asset Management". United Nations Environment Programme Finance Initiative. March 26, 2018. Retrieved February 22, 2021.
- ↑ Simpson, Atholl (May 21, 2019). "Rockefeller enters offshore fund market with double launch". Citywire. Retrieved February 22, 2021.
- ↑ Kirakosian, Margaryta (January 11, 2021). "Rockefeller AM launches ESG improvers index with Bloomberg". Citywire. Retrieved February 22, 2021.
- ↑ Holbrook, Emily (January 11, 2021). "Bloomberg and Rockefeller Asset Management Launch ESG Improvers Index". Environment + Energy Leader. Retrieved February 22, 2021.
- ↑ Ritholtz, Barry (November 28, 2020). "MiB: Greg Fleming, Rockefeller Capital Management". Ritholtz.com. Retrieved February 22, 2021.
- ↑ Ritholtz, Barry (November 25, 2020). "Greg Fleming on Shaping Wall Street". Bloomberg News. Retrieved February 22, 2021.
- ↑ Bisnoff, Jason (April 7, 2021). "Rockefeller Capital Management Adds Derek Jeter To Board After Growing To $75 Billion In Three Years". Forbes. Retrieved April 9, 2021.
- ↑ 27.0 27.1 "Our Leadership". Rockefeller Capital Management. Retrieved February 22, 2021.
- ↑ Walsh, Ben (March 3, 2018). "What Greg Fleming Wants With the Rockefellers' Firm". Barron's. Retrieved February 22, 2021.
External links
Category:American companies established in 2018 Category:Financial services companies established in 2018 Category:Banks established in 2018 Category:Investment management companies of the United States Category:Institutions founded by the Rockefeller family Category:Rockefeller family
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