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1.48 MB
Extraction Summary
2
People
7
Organizations
1
Locations
1
Events
2
Relationships
4
Quotes
Document Information
Type:
Press release
File Size:
1.48 MB
Summary
This document is a Business Wire press release dated October 4, 2017, announcing the formation of Rockefeller Capital Management. The new independent firm is a partnership between Rockefeller Financial Services, Inc. and Gregory J. Fleming, who will serve as CEO, with financial backing from Viking Global Investors LP. The document outlines the firm's focus on wealth management, asset management, and strategic advisory, and includes quotes from David Rockefeller, Jr. and Gregory Fleming regarding the partnership and future growth strategies. The footer indicates this document is part of a House Oversight collection.
People (2)
| Name | Role | Context |
|---|---|---|
| Gregory J. Fleming | CEO of Rockefeller Capital Management |
Partnering with Rockefeller to create the new firm; former President of Morgan Stanley Wealth and Asset Management; f...
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| David Rockefeller, Jr. | Chairman of RFS |
Quoted expressing support for Fleming's leadership and the partnership with Viking.
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Organizations (7)
| Name | Type | Context |
|---|---|---|
| Rockefeller Financial Services, Inc. |
Parent company of Rockefeller & Co., referred to as 'RFS'.
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| Rockefeller & Co. |
Subsidiary of RFS.
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| Rockefeller Capital Management |
The new independent financial services firm being formed.
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| Viking Global Investors LP |
Backing the new firm through an investment fund.
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| Business Wire |
Publisher of the press release.
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| Morgan Stanley |
Former employer of Gregory Fleming.
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| Merrill Lynch |
Former employer of Gregory Fleming.
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Timeline (1 events)
2017-10-04
Announcement of partnership to form Rockefeller Capital Management.
New York
Locations (1)
| Location | Context |
|---|---|
|
Dateline of the press release.
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Relationships (2)
Fleming becoming CEO of the firm where David Rockefeller, Jr. is Chairman of the parent company.
Viking is backing the firm led by Fleming.
Key Quotes (4)
"The team at Rockefeller Financial Services has spent years building the highest-quality investment management firm for families and institutions"Source
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Quote #1
"We look forward to Greg’s leadership and Viking’s support to expand the Rockefeller platform and bring new products and services to our clients."Source
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Quote #2
"I look forward to leading Rockefeller into its next chapter, backed by the Rockefeller family and my new partners at Viking"Source
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Quote #3
"This is an opportunity to create a unique independent firm focused on wealth management, asset management, and strategic advisory."Source
HOUSE_OVERSIGHT_012048.jpg
Quote #4
Full Extracted Text
Complete text extracted from the document (2,858 characters)
Business Wire
A Berkshire Hathaway Company
A Berkshire Hathaway Company
ROCKEFELLER & CO.
Rockefeller Partners with Gregory J. Fleming to Create Independent Financial Services Firm
Firm to Focus on Wealth Management, Asset Management and Strategic Advisory
Viking Global Investors to Back New Firm
Viking Global Investors to Back New Firm
October 04, 2017 06:30 AM Eastern Daylight Time
NEW YORK--(BUSINESS WIRE)--Rockefeller Financial Services, Inc. ("RFS"), the parent company of Rockefeller & Co., and Gregory J. Fleming have agreed to form Rockefeller Capital Management ("Rockefeller" or "the firm"), an independent financial services firm focused on wealth management, asset management and strategic advisory. The firm will look to build upon the 135-year history of excellence in wealth and investment management associated with the Rockefeller family through the addition of broader capabilities and new growth capital.
Greg Fleming will become the Chief Executive Officer of Rockefeller upon closing. Mr. Fleming, a longtime financial services executive, was most recently the President of Morgan Stanley Wealth and Asset Management and prior to that, the President of Merrill Lynch. Viking Global Investors LP ("Viking") will back the firm through an investment by one of its investment funds. Financial terms were not disclosed.
"The team at Rockefeller Financial Services has spent years building the highest-quality investment management firm for families and institutions," said David Rockefeller, Jr., Chairman of RFS. "We look forward to Greg's leadership and Viking's support to expand the Rockefeller platform and bring new products and services to our clients."
This combination will allow Rockefeller to build on its distinguished legacy of serving families, including the Rockefeller family, as well as foundations, endowments and institutions. Under Mr. Fleming's leadership, the firm plans to expand its asset management focus on global equities and ESG investing, add to its wealth management capabilities, and build a strategic advisory business. Rockefeller will have four operating units: Wealth Management, Asset Management, Family Office Advisory, and Strategic Advisory.
"I look forward to leading Rockefeller into its next chapter, backed by the Rockefeller family and my new partners at Viking," Mr. Fleming said. "This is an opportunity to create a unique independent firm focused on wealth management, asset management, and strategic advisory."
Rockefeller will be owned by a Viking investment fund, a trust representing the broader Rockefeller family, and the firm's management. The ownership group anticipates making substantial additional capital investments in Rockefeller over multiple years. This will provide the capital necessary for Rockefeller to execute its strategy, enabling the firm to broaden its products and services and accelerate its growth.
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