Greg Fleming's Rockefeller strategic-advisory team defies dealmaking drought thanks to this rich family
from scratch. The unit, led by Merrill Lynch veteran Jim Ratigan and ex-Deutsche Bank executive Stephen Valentino, has some 20 employees after hiring four more investment bankers last summer., which controls Great-West Lifeco's parent company. Fleming has known the Canadian clan for two decades. While Fleming was at Merrill Lynch, Paul Desmarais Jr. served on an international advisory board. After he left Morgan Stanley in 2016, he became a business advisor to the family.
Since Fleming launched Rockefeller, born out of the Standard Oil heirs' family office, Great-West Lifeco has consistently sought the firm's services. Rockefeller advised on its purchases of MassMutual and Prudential's retirement service in transactions valued at $3.35 billion and $3.55 billion, respectively, in 2021. One year ago, Rockefeller partnered with another subsidiary, Empower, on a joint retirement plan offering for employers.
Like the Rockefellers, the Desmarais family has a long-term strategic view"that thinks about the arc of the horizon," Fleming told Insider.. The economic volatility has not deterred Fleming from expanding the firm's reach, a mindset he credits to his experience guiding Merrill Lynch through its sale to Bank of America in the financial crisis
"It keeps me very focused on the things that matter and making sure that we stay relentlessly focused on the most important things that can move the needle and affect the culture and keep us on track," he told Insider in January."If somebody says to me that we have a big problem, I say, 'A big problem is September 12th, 2008, I'm the president of Merrill Lynch, and in 72 hours we arguably could be going out of business.
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