Rockefeller & Co., which has been looking for a chief executive since the suicide of CEO James McDonald last fall, has changed its name to Rockefeller Financial.
The 125-year-old firm, partly owned by Societe Generale and originally formed to handle the Rockefeller family fortune, has about $25 billion in assets under administration, according a company statement released today.
The firm said the rebranding is intended to help clarify what it does.
“We believe this brand evolution, an initiative under way for nearly a year, both honors our legacy and positions the full range of our capabilities in today’s marketplace with clarity,” Austin V. Shapard, president and chief operating officer, said in the release. Mr. Shapard has been running the business as COO since last fall.
Rockefeller Financial’s lines of business will now be organized along the following categories: Rockefeller Asset Management, offering customized global equity and fixed-income portfolios; Rockefeller Wealth Advisors, the family office segment of the business; Rockefeller Capital Partners, its alternative investment offerings; and Rockit, the financial reporting part of the business.
Hilary Johnson is a reporter at InvestmentNews, a sister publication of Pensions & Investments.