(Reuters) - Former Morgan Stanley Wealth and Asset Management president Gregory Fleming plans to form Rockefeller Capital Management, an independent financial services firm, in collaboration with Rockefeller Financial Services Inc.
The firm, which will focus on wealth management, asset management and strategic advisory, will be owned by Viking investment fund, a trust representing the broader Rockefeller family, and the firm’s management.
Fleming will become the Chief Executive Officer of Rockefeller upon closing and the board of the new firm will include Fleming, David Rockefeller Jr, Peter O’Neill, Reuben Jeffery III, and Brian Kaufmann of Viking.
Under Fleming’s leadership, the firm also plans to expand its asset management focus on global equities.The financial terms of the deal, which is expected to close next year, were not disclosed.
Ardea Partners acted as the financial adviser to Rockefeller.
Reporting by Diptendu Lahiri in Bengaluru; Editing by Bernard Orr