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Following the collapse of Silicon Valley Bank and Signature Bank, banking regulators appeared on Capitol Hill last week. Fed Vice Chair for Supervision Barr and FDIC Chair Gruenberg testified before the Senate Banking and House Financial Services Committees about the recent bank failures. The Federal Deposit Insurance Corporation estimates it will cost $22.5 billion to backstop both Silicon Valley Bank and Signature Bank, guaranteeing all deposits. After the initial shock of these bank failures and the heightened sensitivity around bank holdings, the market rapidly adjusted to the new risks with the quickest monetary tightening in 44 years. Still, banks face several headwinds. First, the yield curve remains inverted—longer-term interest rates are lower than short-term rates. For example, the 10-year Treasury is yielding 3.38%, while the Fed Funds rate is 5%. This inversion is the largest in 42 years. It is generally viewed as a bearish signal for the economy,...
FOR IMMEDIATE RELEASE [CHARLOTTESVILLE, Virginia, February 9, 2023] Jeff Hall will be assuming Manchester Capital Management’s CEO position from Founder, Ted Cronin, following 30 years of industry-changing leadership pioneering the multifamily concept. Jeff will lead the bi-coastal firm from the Charlottesville office and will be responsible for the day-to-day management and operational matters. Ted will serve as Executive Chairman of the Board and continue to be involved with client service and business development. “Jeff is an effective and proven family office professional who will spur innovation while continuing Manchester’s client-first culture,” stated Ted. “The Board of Managers is confident that Jeff’s commitment to Manchester’s client families, to the colleagues, and to maintaining the firm’s independence as an employee and client owned firm.” The firm offers innovative investment strategies, including direct real estate, access to unique alternative strategies, and a wide variety of Family CFO and concierge services. Manchester has been consistently...
Founder, Ted Cronin and the Manchester Capital team have been ranked 8th in Barron’s prestigious annual ranking of “Top 100 Independent Financial Advisors” for 2022. This is the 16th consecutive year Ted has been recognized among the top 100 Independent Financial Advisors by Barron’s. “I am proud to be part of the Manchester team, and this recognition is a tribute to our wonderful clients and our dedicated employees, who remain committed to helping our client families preserve their wealth, culture, and values for generations to come.” – Ted Cronin According to Barron’s, the ranking reflects the volume of assets overseen by the advisor and their team, revenues generated for their firm, and the quality of the advisor’s practice. Read full article on barrons.com › For more details about Barron’s ranking process go to Barron’s Methodology for Ranking Financial Advisors | Barron’s (barrons.com).
