The wealth manager's CEO Greg Fleming has deep ties to the Desmarais family behind the insurer.
In the midst of a dealmaking lull, Rockefeller Capital Management can add another billion-dollar advisory deal to its resume.
Advised by the five-year-old firm, Canadian insurer Great-West Lifeco is selling asset management subsidiary Putnam Investments to Franklin Templeton, the firms announced today.
Since Fleming launched Rockefeller, born out of the Standard Oil heirs' family office, Great-West Lifeco has consistently sought the firm's services.
The Rockefeller family also increased its stake by an undisclosed amount.
Persons:
Rockefeller, Franklin Templeton, Greg Fleming, Lifeco, Morgan Stanley, Merrill Lynch, Jim Ratigan, Stephen Valentino, Fleming, Paul Desmarais Jr
Organizations:
Rockefeller Capital Management, Putnam Investments, Pitchbook, Wall Street, Deutsche Bank . Rockefeller, Standard, Rockefeller, Power Corporation of Canada, Viking Global, Bank of America