Greg Fleming, a well-known Wall Street executive, is resurfacing nearly two years after leaving his role at Morgan Stanley, as a top lieutenant of chief executive James Gorman, writes Liz Hoffman at The Wall Street Journal.

Rockefeller & Co., the family office of 19th-century oil baron John D. Rockefeller, is expected on Wednesday to name Fleming its new CEO. The move will be part of a deal in which the firm will be acquired by hedge-fund firm Viking Global Investors and recast as an adviser and asset manager to the ultrawealthy.