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Rockefeller recruits former Ayco CEO to lead multifamily office

Rockefeller Capital Management, which has been on an aggressive recruiting spree, hired Timothy O’Hara from Goldman Sachs to lead its multifamily office.

Tim-Ohara-Rockefeller-Feb2019

O’Hara — who officially starts with Rockefeller May 2 — spent more than two decades at Ayco, the family office and wealth planning unit of Goldman. His last five years was as CEO. That role ended in February 2018, and since then he has been serving as a senior advisor to Ayco.

“Tim is one of the most experienced and accomplished leaders in the family office advisory space,” Rockefeller CEO Greg Fleming said in a statement. “His expertise as a trusted advisor will be a great complement to our distinguished team of wealth experts.”

Rockefeller has been on something of a recruiting tear recently, pulling advisors and executives from its peers in the industry, with a particular emphasis on wirehouses. Merrill Lynch recently lost a $2.5 billion team to Rockefeller and a managing director, the firm also poached UBS advisors and a top executive from Morgan Stanley.

“Tim played an important role in Ayco’s growth and history,” an Ayco representative told On Wall Street. “We are grateful for his years of service and wish him well in his endeavors.”

The following 17 teams oversaw about $75 billion in assets. The firms ending the year with prize recruits include a diverse cast: regional BDs, wirehouses, boutiques and RIAs.
December 14

In his new role with Rockefeller, O’Hara will set strategies for the business, lead a team of senior client advisors and build on the firm’s offerings of investment, tax planning, philanthropy and other services for high-net-worth families. He’ll be based in the firm’s New York office.

The current head of the multifamily office, Ray Wareham, will remain in the role until O’Hara takes over in May. Then Wareham will continue in his role advising clients and serve as vice chairman of the multi-family office.

“Combining the institutional knowledge of the multifamily office with the complementary capabilities found in private wealth management, asset management and strategic advisory allows us to meet the broad needs of clients and command a unique position in the market,” O’Hara said in a statement.

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