Rockefeller & Co. lands ex-Goldman Sachs big O'Hara

Rockefeller & Co. hired John C. O'Hara Jr. to serve as managing director and senior advisor at the wealth management firm. Mr. O'Hara was most recently chief operating officer for Franklin Street Partners, an investment advisory firm. He was also a managing director in the investment management division of The Goldman Sachs Group Inc. and at Commodities Corp., which was acquired by Goldman Sachs in 1997. Mr. O'Hara will focus on new-business development for Rockefeller Financial. “We believe [Mr. O'Hara's] broad range of experience, reputation for integrity and his commitment to excellence make him ideally suited for this role,” Rockefeller CEO Reuben Jeffery III said in a press release. Mr. Reuben, a former undersecretary of state and chairman of the Commodity Futures Trading Commission is also a former Goldman Sachs partner. He joined Rockefeller last July. Founded as a family office by John D. Rockefeller in 1882, Rockefeller Financial now manages money for wealthy individuals and families, as well as a range of institutional clients. As of the end of March, the firm had a little more than $7 billion in assets under management. According to Rockefeller's 2010 ADV form, the “usual target value” for client relationships is $30 million, and the minimum to invest in one of the private funds it sponsors is $1 million. Fees at the firm start at 120 basis points for the first $3 million and decrease to 45 basis points for assets up to $30 million. The firm charges 25 basis points on assets over $30 million.