Saturday, April 20, 2024

Rockefeller Adds Bay Area Team From First Republic -Dlight News

Rockefeller Capital Management has recruited a six-person team in San Francisco and Walnut Creek, Calif., to Rockefeller Global Family Office, the firm’s wealth management division. Pollock Salah Wealth Partners joins from First Republic Investment Management, which was acquired by JPMorgan Chase last year in the wake of the regional banking crisis.

According to Forbes, the First Republic group had $922 million in assets under management, including assets managed by advisors not moving to Rockefeller.

Pollock Salah Wealth Partners will be led by advisors Gary Pollock, Craig Pollock and Anis Salah. The team includes Financial Analyst Annette Smith, Senior Client Associate Maryann Jensen and Registered Client Associate Ethan Huang.

Gary Pollock started his career in 1986 when he co-founded Bay Isle Financial. Craig Pollock joined Bay Isle as an equity research analyst, and later helped launch a technology mutual fund. The two went to First Republic in 2004. Salah joined First Republic in 2017.

Rockefeller was one of the beneficiaries of First Republic’s collapse last year, when dozens of advisors fled the bank for other firms. Last April, the firm added a 17-member advisor team in New York.

Rockefeller Capital Management began as the family office of John D. Rockefeller in 1882 and was restructured as an independent advisory firm in 2018. The firm has since grown to include three distinct businesses—Rockefeller Global Family Office, Rockefeller Asset Management and Rockefeller Strategic Advisory. They represent 50 locations across the U.S. and one in London, overseeing about $122 billion in client assets.

Last year, Rockefeller received its first external capital investment—$622 million from the ultra-wealthy Desmarais family in Canada, which has historical ties to the Rockefellers—in a deal valued at $3 billion.

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