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☆ Greg Fleming's Rockefeller strategic-advisory team defies dealmaking drought thanks to this rich family
▼ + stars: | 2023-05-31 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

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

☆ Skynest: Air New Zealand reveals price of new economy class sleep pods
▼ + stars: | 2023-05-10 | by ( Lilit Marcus | ) edition.cnn.com time to read: +3 min

But that will change on some Air New Zealand flights when the airline launches Skynest, a beds-on-board concept for economy-class passengers, in September 2024. The airline first announced the Skynest concept, in which six sleep pods in a bunk bed configuration are available on select planes, last year. Lighting in the Skynest pods was designed to make passengers sleep better. Meanwhile, Air New Zealand was ranked the second-best airline in the world in 2022. It became Air New Zealand in 1965.

☆ Hurricanes of Data: The Tiny Craft Mapping Superstorms at Sea
▼ + stars: | 2023-05-09 | by ( Porter Fox | ) www.nytimes.com time to read: +35 min

The Tiny Craft Mapping Superstorms at Sea Shortly after dawn on Sept. 30, 2021, Richard Jenkins watched a Category 4 hurricane overrun his life’s work. That August, a sister ship, SD 1031, successfully entered Tropical Storm Henri, but only in its early stages. Hurricane research, modeling and forecasting requires many terabytes of data for every square mile the storm passes through, including vitally important sea-level data from inside a storm. The next day, the depression was upgraded to a tropical storm and officially given the name Sam. And four months later, Tropical Storm Megi killed more than 150, wiped out several villages with landslides and displaced more than a million people.

A 25 basis point move, a slowdown after three straight 50 basis point hikes, appears the most likely outcome, although the bigger increase is still a possibility at what is almost certainly not the end of a historic tightening cycle. Markets see an 80% chance of a 25 basis point move while the vast majority of economists polled by Reuters were also betting on the smaller hike. Supporting a possible ECB downshift, the U.S. Federal Reserve lifted rates by 25 basis points on Wednesday and signalled it may pause further increases. At 3%, the ECB's deposit rate is already restricting economic activity, and underlying inflation has also stopped rising - at least for the time being. The ECB will announce its policy decision at 1215 GMT and Lagarde will hold a press conference at 1245 GMT.

☆ iPhone thieves are using a security feature to lock users out of their Apple accounts, report says
▼ + stars: | 2023-04-28 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

iPhone thieves are using the "recovery key" to get into Apple accounts and log users out. iPhone thieves are targeting an Apple security feature called the "recovery key" to lock users out of their own cell phones. That's because activating the recovery key feature turns off "account recovery," meaning you can't get back into your Apple ID account without it. In both cases, the thieves had gained access to their Apple ID account, and both suspected the thieves of having watched them while they entered their passcodes. Similarly to Ayas and Trent, he said thieves had changed his Apple ID account's password and enabled the recovery key.

☆ The iPhone Setting Thieves Use to Lock You Out of Your Apple Account
▼ + stars: | 2023-04-19 | by ( Nicole Nguyen | Joanna Stern | ) www.wsj.com time to read: 1 min

Greg Frasca has been locked out of his Apple account since October, and he’ll do just about anything to get back in. He has offered to fly from Florida to Apple’s California headquarters to prove his identity in person, or write a check for $10,000 to reclaim the account. It holds the only copies of eight years of photos of his young daughters.

☆ How two of North America's richest families came together to fortify Greg Fleming's Rockefeller Capital Management
▼ + stars: | 2023-04-10 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

A firm owned by one of Canada's richest clans has invested $622 million in wealth firm Rockefeller. Two of North America's richest families have partnered up to invest in wealth management powerhouse Rockefeller Capital Management. The Desmarais family invested $622 million through the Power Corporation of Canada, the financial services conglomerate the family controls, for a 20.5% stake in Rockefeller Capital Management. Paul's son and deputy chairman of Power Corp., Andre Desmarais considered the late David Rockefeller Sr. as a mentor. Courtesy of Rockefeller Capital ManagementThe Desmarais family has worked with Rockefeller on big dealsRockefeller chief executive Fleming also has a two-decade-long relationship with the Desmarais clan.

☆ Starbucks new CEO wants senior leaders to work in stores. Every leader should follow suit.
▼ + stars: | 2023-04-10 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +7 min

Former Walmart CEO Greg Foran used to visit stores every week to observe factors like customer service, inventory levels, in-stock levels, and assortment. Fewer retail CEOs got their start working in storesLowe's CEO Marvin Ellison started his retail career as a Target security guard. Others went through management-training programs operated by department stores. As department stores started facing stiff competition from specialty stores, they scrambled to cut costs. These days, finding a qualified retail CEO seems like one of the hardest jobs to fill, with many companies looking outside the retail industry.

☆ Why two of North America's richest families are coming together to fortify Greg Fleming's Rockefeller Capital Management
▼ + stars: | 2023-04-05 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

A firm owned by one of Canada's richest clans has invested $622 million in wealth firm Rockefeller. Two of North America's richest families have partnered up to invest in wealth management powerhouse Rockefeller Capital Management. The Desmarais family invested $622 million through the Power Corporation of Canada, the financial services conglomerate the family controls, for a 20.5% stake in Rockefeller Capital Management. Paul's son and deputy chairman of Power Corp, Andre Desmarais considered the late David Rockefeller Sr. as a mentor. Courtesy of Rockefeller Capital ManagementThe Desmarais family has worked with Rockefeller on big dealsRockefeller chief executive Fleming also has a two-decade-long relationship with the Desmarais clan.

☆ Starbucks' new CEO plans to spend time working at his company's coffee shops. Here's why every retail leader should take a shift on the sales floor.
▼ + stars: | 2023-04-03 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +7 min

Former Walmart CEO Greg Foran used to visit stores every week to observe factors like customer service, inventory levels, in-stock levels, and assortment. Fewer retail CEOs got their start working in storesLowe's CEO Marvin Ellison started his retail career as a Target security guard. David Swanson/ReutersOf course, times have changed — in the past, many retail CEOs got their start at the store level. As department stores started facing stiff competition from specialty stores, they scrambled to cut costs. These days, finding a qualified retail CEO seems like one of the hardest jobs to fill, with many companies looking outside the retail industry.

☆ Meet the new co-heads of Merrill Lynch as Andy Sieg exits to jump-start Citi's wealth business
▼ + stars: | 2023-03-30 | by ( Hayley Cuccinello | Rebecca Ungarino | ) www.businessinsider.com time to read: +4 min

Merrill Lynch head Andy Sieg is leaving to lead rival Citi's wealth management business. Sieg is leaving for rival bank Citi, where he faces a big challenge when he starts in September: improving Citi's wealth business, which has lagged behind competitors like Merrill and Morgan Stanley Wealth Management. New battles await both Sieg at Citi, where he will be head of Citi Global Wealth, and his successors at Merrill. The move was made after the wealth business had missed revenue targets, the Wall Street Journal reported. Citi CEO Jane Fraser described the wealth management unit's performance as "disappointing" on a call to discuss earnings in January.

☆ Congress should insure deposits across the board, says Rockefeller Capital's Greg Fleming
▼ + stars: | 2023-03-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCongress should insure deposits across the board, says Rockefeller Capital's Greg FlemingGreg Fleming, Rockefeller Capital Management president and CEO, joins 'Squawk Box' to discuss where we are in this current crisis, whether the dominoes have stopped falling for banks, and the 'moral hazard' by negating risk.

☆ Watch CNBC's full interview with Rockefeller Capital Management CEO Greg Fleming
▼ + stars: | 2023-03-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Rockefeller Capital Management CEO Greg FlemingGreg Fleming, Rockefeller Capital Management president and CEO, joins 'Squawk Box' to discuss where we are in this current crisis, whether the dominoes have stopped falling for banks, and the 'moral hazard' by negating risk.

☆ Sticky inflation fuels some of ECB's worst fears
▼ + stars: | 2023-03-02 | by ( Balazs Koranyi | ) www.reuters.com time to read: +4 min

Overall inflation eased a touch to 8.5% last month from 8.6% in January, data on Thursday showed. But nearly all the drop came from lower energy costs, while prices for most other items - including food, services and durable goods - surged again, confirming the worst fears of some ECB policymakers. A jump in underlying inflation - to 5.6% from 5.3% - reinforces already copious evidence that past price rises are filtering down into the broader economy, including via wages. "Core inflation and other measures of underlying inflation were likely to be stickier, with only limited evidence of a stabilisation so far," the ECB said in the accounts of the Feb. 1-2 meeting. "In particular, we upgrade (the rate hike view in) May from 25bp to 50bp, which takes our terminal rate forecast to 3.75% in June."

Despite relief measures, energy prices in February were 19.1% higher on the year, while food prices were 21.8% higher, it said. The first one was driven by energy prices and the second one by material inputs, which are not ebbing. While energy prices were keeping headline inflation high, wage growth will show its impact in core inflation, which will remain stubbornly high, Brzeski said. "Hence, a stepdown to a 25bp pace of hikes could be delayed, which would also push the terminal rate higher." "The interest rate step announced for March will not be the last," Nagel said in a speech.

☆ Unexpected inflation jump adds to ECB headache
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

Germany's 10-year bond yield, the benchmark for the euro zone, jumped to its highest level since 2011 at 2.66% as traders ramped up bets that ECB rates will peak around 4% at year-end. Expectations for the peak in ECB rates have risen by over 40 basis points this month on fears that inflation will be more persistent than expected, particularly for core goods that exclude volatile fuel and food prices. Some investors even think there is a risk of the ECB raising rates by more than 50 basis points in March, despite its explicit guidance for the move. "The February data shows that French inflation has not reached its peak yet," ING economist Charlotte de Montpellier said. In Spain, core inflation also accelerated, adding to the ECB's worries that price growth is becoming persistent.

☆ Rockefeller Capital is approaching $100 billion in client assets. CEO Greg Fleming lays out his plans to double that and hire 150 more wealth advisors.
▼ + stars: | 2023-01-30 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Wall Street veteran Greg Fleming founded Rockefeller Capital Management almost five years ago. Wall Street veteran Gregory Fleming launched wealth firm Rockefeller Capital Management in 2018 with the goal of hitting $100 billion in assets by 2023. If anything, the market turbulence has led to more inbound interest from clients, Fleming told Insider. He added that there is still potential to convert more wealth management clients into advisory clients and vice versa. For us, a lot of it is about the fit with the Rockefeller global family office," he said.

☆ Rockefeller Capital's Greg Fleming on the $98 billion firm's plans to double assets
▼ + stars: | 2023-01-26 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Wall Street veteran Greg Fleming founded Rockefeller Capital Management almost five years ago. Wall Street veteran Gregory Fleming launched wealth fim Rockefeller Capital Management in 2018 with the goal of hitting $100 billion in assets by 2023. If anything, the market turbulence has led to more inbound interest from clients, Fleming told Insider. He added that there is still potential to convert more wealth management clients into advisory clients and vice versa. For us, a lot of it is about the fit with the Rockefeller global family office," he said.

☆ PE firms' eagerness to recruit junior bankers is blowing up in their faces. Here's why they need to change.
▼ + stars: | 2023-01-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

As Insider's Emmalyse Brownstein reports, some PE firms are scrambling to fill positions that, in years past, would have been locked up for months. Some context on PE recruiting: Firms recruit, interview, and make offers to junior bankers well ahead of their actual start dates. Some junior bankers didn't feel comfortable interviewing for a new role when they had barely settled into their current ones. The fact PE firms need to go back to the well to fill open seats should be a wake-up call. Click here to read more about how PE firms' early recruitment of junior bankers backfired.

☆ A 14-year-old was stranded in an airport for 19 hours on Christmas Eve after Southwest's flight chaos
▼ + stars: | 2023-01-08 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

A 14-year-old Southwest passenger was stranded in a Baltimore airport for 19 hours on Christmas Eve. Southwest staff left Penelope Meyer alone as they repeatedly rebooked her flight to Florida. Penelope Meyer, 14, had been flying from Long Island, New York, to Fort Myers, Florida, to spend Christmas with her dad, Greg. "Otherwise, she was going to be sleeping in an airport alone as a 14-year-old girl," Greg said. While Greg found the additional expenses of about $2,000 to be an inconvenience, he was more concerned that staff had left Penelope alone for so long.

JAKARTA, Dec 20 (Reuters) - Indonesia's new criminal code has grabbed headlines for making sex outside marriage illegal but Islamic parties wanted even harsher punishment for moral crimes in the world's largest Muslim-majority nation, accounts of behind-the-scenes negotiations reveal. "We found a middle ground, not only between nationalists and religious parties but also between progressive liberals and conservatives," he said. In forming the laws, a team of legal professors had turned to Indonesia's official dictionary, which defines adultery as any sex outside marriage, not just extramarital sex. The compromise reached in the final version carries a maximum one-year sentence for sex outside marriage and six months for cohabitation. "The Islamic parties benefit from the morality agenda ... while the other parties will benefit from strengthening of authoritarianism," he said.

[1/2] Signage is seen outside the European Central Bank (ECB) building, in Frankfurt, Germany, July 21, 2022. Economists polled by Reuters expected the ECB to raise the rate it pays on bank deposits to 2% on Thursday before pushing it to 2.5% by March and 2.75% by June. The ECB was also due to lay out plans to stop replacing maturing bonds in its 5 trillion-euro portfolio, reversing years of debt purchases that have turned the central bank into the biggest creditor of many euro zone governments. The ECB will announce its policy decisions at 1315 GMT, followed by a news conference of President Christine Lagarde at 1345 GMT. "The counterpart of slower rate hikes will be hawkish guidance on the terminal rate ... accompanied by earlier or faster 'passive' QT."

Jones and Infowars had already been banned from Facebook, Instagram, Twitter, Apple, YouTube, Spotify, Google Play, Vimeo, Pinterest, Mailchimp and LinkedIn. But Ye’s interview had more than 3.1 million views as of publication. On other platforms, clips of the interview got millions more. Twitter suspended Ye later that night after Ye tweeted an image that contained a swastika. He showed clips of Ye praising Hitler, and Foreman speculated that his channel might get a “strike” from YouTube as a result.

Democrat Craig Greenberg is running against Republican Bill Dieruf in Louisville, Kentucky's mayoral race. On abortion, Greenberg — who clinched Planned Parenthood's endorsement — has said he wouldn't use the Louisville police "to be the enforcement arm of Kentucky's extreme abortion ban." Dieruf, who defeated three opponents in the Republican primary with 78% of the vote, is currently serving as Jeffersontown mayor. If elected, he would be the first Republican mayor Louisville has elected in nearly six decades. On the campaign finance front, Greenberg and Dieruf combined spent nearly $550,000 from mid-September to mid-October, according to the Kentucky Registry of Finance.

☆ Democrat Craig Greenberg faces off against Republican Bill Dieruf in Louisville, Kentucky's mayoral election
▼ + stars: | 2022-11-08 | by ( Hanna Kang | ) www.businessinsider.com time to read: +2 min

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