Rockefeller Financial Services, Inc., the parent company of Rockefeller & Co., Inc., a global wealth management firm, and SG Private Banking, the global wealth management arm of Frances Societe Generale, announced a global alliance. Under this alliance, Rockefeller & Co. and SG Private Banking, as independent companies, will work together to share areas of expertise and jointly serve the financial needs of ultra high net worth individuals and family offices around the world. Both companies will also continue their own ongoing business activities.
As part of this global alliance, SG Private Banking has purchased a minority equity interest in Rockefeller Financial Services, the parent company of Rockefeller & Co. Under the terms of the agreement, James S. McDonald, President and Chief Executive Officer of Rockefeller & Co.,
will join the Executive Committee of SG Private Banking, while Daniel Truchi, CEO of SG Private Banking and Marc I. Stern, chairman of Societe Generale Global Investment Management and Services for North America, will join Rockefeller & Co.s 11-member Board of Directors.
We are delighted to enter this strategic alliance with SG Private Banking, which reflects our commitment to the continued investment in and growth of our global franchise, to the benefit of our clients in the U.S. and around the world. Our strategic alliance with SG Private Banking provides Rockefeller & Co. with access to resources that will broaden and deepen our best-in-class service to our clients, and todays announcement is a first step towards further exciting initiatives for both of our organisations, says James S. McDonald.
This relationship with such a highly regarded institution as Rockefeller & Co. is an important step in our development strategy globally and in North America. It will increase SG Private Bankings capability to provide a dedicated offering to ultra high net worth clients and family offices worldwide, a key client segment of our growth strategy. SG Private Banking and its clients will also benefit from Rockefeller & Co.s long-established record of investment success, experience and know-how in wealth management and family office services, Daniel Truchi.