Rockefeller Hires Former Goldman Family Office Head Tim O’Hara
Rockefeller Capital Management President Greg Fleming on Tuesday hired a former head of Goldman Sachs financial planning unit executive to run the “family office” business of the wealth management enterprise he is building with the help of former wirehouse brokers and managers.
Timothy D. O’Hara, who spent his 23-year brokerage career at Saratoga, NY-based Ayco, which offers financial planning to corporate employees and wealthy families, will become president of Rockefeller Multi-Family Office in May. The unit is an outgrowth of the Rockefeller & Co. family office that former Morgan Stanley and Merrill executive Fleming began expanding last year with the backing of private equity firm Viking Capital.
O’Hara served as president and CEO of Ayco from 2013 until last February, when he became a “strategic adviser” at the Goldman unit. At Rockefeller, he will succeed Ray Wareham, who will “continue to advise clients” as vice chairman of the family office unit, Rockefeller said in a news release.
O’Hara has a mandate to expand the investment, tax and estate planning and philanthropic services offerings to “ultra-high-net-worth families” solicited by the company, whose origins lay in managing Rockefeller family assets, the company said. The executive is a certified public accountant with a law degree from Albany Law School.
He will work alongside former Morgan Stanley executive Christopher Randazzo, who Fleming hired last March as president of Rockefeller’s private wealth management business. The wealth unit has hired five brokerage teams in recent months who had been managing some $5 billion of assets, including brokers from Merrill Lynch and from UBS.
Ayco, which O’Hara joined in 1996 after serving as an intern at the firm, is now led by Larry Restieri, a longtime Goldman Asset Management official who also is in charge of the company’s Honest Dollar retirement savings plan mobile platform for employees of small businesses.