[REPLAY] Greg Fleming – Building and Running Rockefeller Capital Management (Capital Allocators, EP.125)
Sep 20, 2023
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Greg Fleming, founding CEO of Rockefeller Capital Management, discusses his career path, the importance of strategy and leadership in business, ESG investing, investment strategies, hobbies, pet peeves, and the significance of waking up early and self-renewal.
Clear strategies and constant communication are vital for driving business success.
Leaders must have self-confidence, clear vision, and the ability to motivate teams in times of uncertainty.
Rockefeller Capital Management offers a comprehensive range of services to meet the diverse needs of high net worth individuals and families.
Deep dives
Transition from Law School to Management Consulting
Greg Fleming shares his career journey, starting with his decision to transition from law school to management consulting. He discusses how he joined Booz Allen and Hamilton and gained extensive experience working with various industries globally. Fleming highlights the importance of tight and clear strategies in businesses and the need for constant communication and focus to drive success.
Lessons from the Financial Crisis
Fleming reflects on the challenges faced during the financial crisis and the valuable lessons he learned. He emphasizes the importance of making strategic decisions, maintaining optimism, and being prepared to lead in times of uncertainty. Fleming shares his experiences of making critical decisions while leading Merrill Lynch during the crisis, highlighting the need for self-confidence, clear vision, and the ability to motivate a large team.
Building Rockefeller Capital Management
Fleming discusses the establishment of Rockefeller Capital Management as an independent advisory firm. He explains the focus on providing a comprehensive range of services to high net worth individuals and families. Fleming highlights the unique offering of Rockefeller Capital Management, combining investment management, family office services, generational planning, and strategic advisory to cater to the diverse needs of clients. He emphasizes the importance of positive motivation, empowerment, and building a strong culture within the firm.
Focus on ESG Investing and Alpha Generation
Rockefeller Asset Management has a long history and expertise in ESG investing. They focus on finding companies and opportunities that generate alpha through the cycle, leaning against momentum trades. They have a comprehensive framework for evaluating materiality factors across different industries to identify companies improving on ESG metrics. They believe that companies showing progress in ESG are often leading indicators for alpha creation. The team conducts detailed fundamental research and engages with companies like Amazon to work together on improving their environmental footprint.
Client Integration and Customized Wealth Management
Rockefeller Capital Management offers a bespoke model to meet the individual needs of high net worth and ultra-high net worth clients. They onboard existing portfolios from advisors joining their team and perform due diligence to ensure alignment with their preferred managers. The firm balances customization with standardization to provide excellent service while maintaining operational efficiency. Their focus is on delivering trusted advice, open architecture, and a sense of connectivity with clients.
Greg Fleming is the founding CEO of Rockefeller Capital Management, where he took the helm of a storied family office in 2018 to build and serve other families and institutions as well. Prior to taking on this challenge, Greg was the President of Morgan Stanley Wealth Management and Morgan Stanley Investment Management and before that spent seventeen years at Merrill Lynch, culminating in serving as President and Chief Operating Officer from 2007-2009.
Our conversation walks through some of Greg’s career path, including highlights from the financial crisis, and the Rockefeller Capital Management business and strategy. We hit on ESG investing, serving clients, and leadership. And I couldn’t help asking Greg about his relationship with Yankee great Derek Jeter.
For full show notes, visit the episode webpage here.
