This week, we speak with Greg Fleming, founding CEO of Rockefeller Capital Management based on the prior Rockefeller Family Office. They have about $43 billion in AUM. Previously, Fleming was President of Morgan Stanley Wealth Management and served as Chief Operating Officer of Merrill Lynch, where he ran Merrill’s Global Investment Banking business.
We discuss a variety of M&A transactions Fleming managed, including the spinout of Blackrock from Merrill Lynch, as well as the outright purchase of Merrill Lynch by Bank of America. He put together a group to bid on the Miami Marlins baseball team, eventually working with Yankee great Derek Jeter. They finalized the purchase in 2017; Jeter is the President and minority owner; Fleming owns a small percentage of the Marlins. He also discusses the only time in his career when an M&A deal resulted in a gratuity to the bankers involved.
He explains why Rockefeller Capital offers a suite of unusual Advisory services, including: Private Aviation, Private Health, Personal Security, Philanthropic and Global Rescue. He explains how the firm came to offering these services, as well as the history of the Rockefeller family offices, and why he helped to convert that into a full advisory firm.
A list of his favorite books are here; A transcript of our conversation is available here Monday.
You can stream and download our full conversation, including the podcast extras on iTunes, Spotify, Stitcher, Google, Bloomberg, and Acast. All of our earlier podcasts on your favorite pod hosts can be found here.
Be sure to check out our Masters in Business next week with Catherine Keating, CEO of BNY Mellon Wealth Management. The group has more than $266 billion in assets, Previously, she was the Chief Executive Officer of Commonfund. Keating has been named to the “Most Powerful Women in Finance” list and one of the “Most Powerful Women in Banking” list by American Banker.
Greg Fleming’s Favorite Books
Team of Rivals: The Political Genius of Abraham Lincoln by Doris Kearns Goodwin
Endurance: Shackleton’s Incredible Voyage by Alfred Lansing
No Ordinary Time: Franklin and Eleanor Roosevelt: The Home Front in World War II by Doris Kearns Goodwin
I’ll Be Gone in the Dark: One Woman’s Obsessive Search for the Golden State Killer by Michelle McNamara
Pride and Prejudice by Jane Austen
The Fountainhead by Ayn Rand