The business that has run the Rockefeller dynasty's financial affairs for over a century takes on a new guise.

Rockefeller Capital Management, a business which included the acquisition of Rockefeller & Co in a move first announced last October, is off the launch-pad after winning regulatory and client consent.

The new operation is made up of three business lines: Rockefeller Wealth Management, Rockefeller Asset Management, and Rockefeller Strategic Advisory; the firm is owned by a trust representing the broader Rockefeller family, the firm’s management and an investment fund of Viking Global Investors. As of December 31, 2017, the firm had about $18.3 billion in assets under advisement, with offices in New York, Boston and Washington, DC.

RCM said it intends to “broaden its existing wealth and asset management capabilities and develop a strategic advisory business for the first time, serving ultra- and high-net-worth families as well as institutions that include foundations, endowments and corporations”.  

Heading up the business is Gregory J Fleming, holding the roles of president and chief executive. Prior to his new positions, he was most recently president of Morgan Stanley Wealth and Asset Management and before that, the president of Merrill Lynch. Several senior ex-Morgan Stanley figures have joined Fleming for the senior management team. 

The new team are Jonathan Eisenberg, Ed Moriarty, Jeffrey Shames and Harry Singh. They will report to Fleming. Eisenberg will serve as general counsel; Moriarty will be the chief financial officer; Shames will be a senior strategy advisor; and Singh will be the chief operating officer. David Harris will continue as chief investment officer and head of asset management, and Elizabeth Munson as president of the Rockefeller Trust Companies. These executives report to Fleming and together form the executive committee.

The board of Rockefeller Capital Management includes Fleming; Rockefeller family members David Rockefeller, Jr and Peter M O’Neill; Reuben Jeffery III of the former Rockefeller & Co; and Brian Kaufmann of Viking. Additional independent directors will be added in the future.

Eisenberg was previously the general counsel for UBS Wealth Management Americas and, prior to that, the co-head of global litigation, regulatory and employment law at Merrill Lynch.

Moriarty previously served as head of merchant banking and real estate investing at Morgan Stanley Investment Management and before that as the COO of investment management at Morgan Stanley. 
Shames is also a senior lecturer of finance at the MIT Sloan School of Management. Prior to his career in academia, Shames was the chairman and CEO of MFS Investment Management and served on the board of trustees of the MFS Funds. Shames was also a senior advisor at Morgan Stanley, where he was responsible for advising the president of Morgan Stanley Investment Management and Morgan Stanley Smith Barney Wealth Management. 

Singh previously was a MD and member of the management committee for Wealth Management at Morgan Stanley. He also served as head of the Office of the Vice Chairman for Global Wealth Management. Singh was previously a MD and co-head of global client coverage at Merrill Lynch, where he worked in New York and London.