Heritage
Financial of Charlottesville has been acquired by New York-based Silvercrest Asset
Management. The merger means the combined firm will have nearly $6
billion in assets. Silvercrest CEO Moffett Cochran says they hope to double the
number of local employees within a short time and expand enough over the next
several years to become a major local employer. Cochran, a UVA grad and native
of Staunton, says the high concentration of wealth in our area made the merger
logical.

Anything that could
bring new jobs to the area is welcomed. WINA said this morning that one of the
reasons for the merger was the high concentration of wealth in the area. Should
prove interesting.