Rockefeller & Co. And Fi-Tek Announce The Acquisition Of Rockit Solutions

Jan 07, 2016, 07:00 ET from Rockefeller & Co., Inc. from ,Fi-Tek, LLC

NEW YORK and EDISON, N.J., Jan. 7, 2016 /PRNewswire/ -- Rockefeller & Co., Inc. ("Rockefeller & Co."), a global wealth and investment management firm serving individuals, families and institutions, and Fi-Tek, LLC ("Fi-Tek"), a financial technology company providing products and solutions to banks, trust and wealth management institutions, RIAs, family offices, hedge funds and hedge fund administrators, today announced that Fi-Tek has agreed to acquire Rockefeller & Co.'s Rockit Solutions business. As part of the transaction, Rockefeller & Co. is entering into a long-term services arrangement with Fi-Tek for the ongoing delivery of information management services for itself and its clients.

Rockit Solutions, LLC is a technology-enabled service provider for single- and multi-family offices, investment advisers, private trust companies, and other financial institutions. Rockit® Command, the technology platform for Rockit Solutions, was launched in January 2000 to support middle- and back-office services related to Rockefeller & Co.'s wealth and asset management business. In 2005, Rockit Solutions became a wholly-owned subsidiary of Rockefeller & Co. and began to offer services to third-party clients.

Reuben Jeffery III, president and chief executive of Rockefeller & Co., said: "This transaction acknowledges the leadership of Rockit Solutions in back-office technology for the wealth management industry and speaks to the strength of its technology infrastructure and the quality of the entire Rockit Solutions team of professionals. We look forward to working with Fi-Tek as they further enhance and develop Rockit's operational, technology and reporting platform for the benefit of our organizations and our respective clients going forward."

Subir Chatterjee, founder, president and chief executive of Fi-Tek, remarked: "We are excited about this opportunity to leverage and extend the strengths of the Rockit Solutions platform, and to work with Rockefeller & Co. in an ongoing servicing capacity. We have long admired the Rockefeller & Co. organization and the Rockit Solutions business, and we believe this acquisition will enable us to build on our mission of offering premier financial technology solutions and services addressing the complex needs of financial services providers."

The transaction is expected to close on or about February 1, 2016. Financial terms were not disclosed.

About Rockefeller & Co., Inc.
Rockefeller & Co. traces its roots back to 1882, when John D. Rockefeller established one of the world's first family offices to manage his financial legacy.  Today Rockefeller & Co. provides comprehensive investment and wealth management services to a diversified client base of individuals, families and institutions. As of September 30, 2015, the firm and its subsidiaries had approximately $41.2i billion in client assets under administration. For additional information, please visit www.rockco.com.

About Fi-Tek, LLC
Fi-Tek is a leading provider of technology platforms and solutions to wealth management and alternative investment firms with a diverse client base that currently consists of financial institutions, including private banks, trust banks, hedge funds and hedge fund administrators, broker/dealers, family offices and RIAs. Across all technology platforms, Fi-Tek has over 450 clients worldwide, ranging in size from $200 million to $80 billion, with a combined AUM of over $1.3 trillion. Additional information about Fi-Tek and its solutions may be found at www.fi-tek.com.

Media Contacts for more information:

Rockefeller & Co.
Kekst for Rockefeller & Co., Inc.
Michael Herley
(212) 521-4897
michael.herley@kekst.com

Fi-Tek, LLC
Tony Mitchell
(732) 767-5437 
tmitchell@fi-tek.com

i As of September 30, 2015. This number includes net assets under management of approximately $9.9 billion, plus other non-managed assets for which Rockefeller & Co., Inc. and/or its subsidiaries provide other services, such as financial planning, administration and/or consulting for open architecture programs or other assignments, information management, consolidated reporting, and tax and accounting.  Information management services are provided by Rockit Solutions, LLC.  Please refer to Rockefeller & Co., lnc.'s Form ADV, Part 1A for additional information.

SOURCE Rockefeller & Co., Inc.; Fi-Tek, LLC



RELATED LINKS

http://www.fi-tek.com


http://www.rockco.com