PITTSBURGH--(BUSINESS WIRE)--Aug 20, 2026--
Greycourt LLC, a leading investment advisor to ultra-high net worth families and family offices, is pleased to announce that Michael J. Meehan, CFA has joined the firm as Managing Director and Chief Investment Officer. Mike brings deep experience and expertise working collaboratively with sophisticated investors across public and private markets. He will serve as the firm's public-facing voice on investment strategy and markets, working closely with Greycourt's Manager Research team and Chief Investment Strategist, Mark Thomas, to shape the firm's investment ideas and implementation methodology. He will partner directly with current and future clients on portfolio design, asset allocation, and customized problem-solving.
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Mike joins Greycourt from Nuveen, where he was Senior Portfolio Strategist in the firm’s well-regarded Portfolio Strategy and Solutions team. In this role, Mike led day-one development of the firm’s after-tax asset allocation systems focused on high-net worth clients and co-founded Nuveen’s Private Market Institute focused on education and consulting in private equity, credit, and real estate.
Prior to Nuveen, Mike was a Portfolio Strategist at BlackRock, where he served family offices and RIAs, developing sophisticated allocation tools and multi-asset class frameworks for clients, with a particular focus on alternatives. Earlier in his career, he was a member of the investment strategy team at Hirtle, Callaghan & Co., a large outsourced chief investment officer (OCIO) firm.
Mike graduated magna cum laude from Fairfield University with dual degrees in Economics and German, is a CFA charterholder, and is a member of the CFA Societies of New York and Philadelphia. Mike was a 2008 Fulbright Scholar, studying economics at the German Institute for Economic Research in Berlin.
Matt Litwin, CEO of Greycourt, said, "Bringing on investment professionals of Mike's caliber ensures that our clients continue to benefit from deep expertise and thoughtful portfolio construction as markets evolve. Along with our other recent additions to the senior team, Mike is a symbol of our commitment to reinvest for our clients’ benefit by being net importers of talent."
Greycourt simultaneously announces the promotion of Mark Thomas to Chief Investment Strategist. In his expanded role, Mark will focus on furthering Greycourt’s forecasts for long-term asset class returns, enhancing the sophistication of the firm’s portfolio return and risk modeling tools, and collaborating with Mike and the firm’s advisors to translate the firm’s research and manager due diligence into practical investment strategies appropriate for ultra-high net worth clients.
About Greycourt
Founded in 1988, Greycourt LLC is one of the premier independent investment advisory firms in the United States, serving ultra-high net worth families, family offices, and select institutions from offices in Pittsburgh, Portland, Nashville, and San Antonio. With a deeply analytical and principled approach, Greycourt delivers customized portfolio design, robust manager research, and hands-on operational support, prioritizing transparency, collaboration, and alignment of interests. For more information, visit www.greycourt.com or contact info@greycourt.com.
Greycourt LLC Announces Mike Meehan as Chief Investment Officer
NEW YORK (AP) — The relief that swept the bond market just a day before is disappearing on Thursday as oil prices, worries about high inflation and the U.S. government’s debt keep rising. That helped knock the U.S. stock market lower, and Walmart led the way on concerns about its upcoming profits.
The S&P 500 fell 0.7% and is on track for a fourth loss in the five days since setting its all-time high last week. The Dow Jones Industrial Average was down 661 points, or 1.2%, with an hour remaining in trading, and the Nasdaq composite was 1% lower.
The bond market remains the center of the action after yields charged higher through the summer. Treasury Secretary Scott Bessent made a surprise move Wednesday that brought some temporary relief. His department said it will at least double the size of its planned purchases of longer-term Treasurys from Sept. 9 through Nov. 4.
That helped push yields down after the 10-year Treasury’s yield had hit its highest level in more than a year and the 30-year yield got back to where it was in 2007, before the Great Recession sent yields toward zero worldwide. It’s a big deal because high yields slow the economy by raising interest payments for people, companies and the government, and they can undercut prices for stocks and other investments.
But analysts had cautioned the effect may be short lived, given how small the purchases are relative to the overall size of the Treasury market and how they don't fix the fundamental concerns of investors that had driven up yields. Plus, more signals arrived quickly to keep those concerns high.
The U.S. government’s debt topped $40 trillion on Wednesday, a staggering record that arrived just months after the national debt first blew past the $39 trillion mark in April, because Washington continues to spend far more money than it brings in.
And on Thursday, the price for a barrel of Brent crude climbed 2.4% to $93.78 as uncertainty continues about when the war with Iran will allow oil tankers to freely exit the Persian Gulf again. President Donald Trump threatened Iran with “the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY” late Wednesday but provided few details.
That helped push the 10-year Treasury yield up to 4.69% from 4.65% late Wednesday. It’s almost back to its 4.71% level from late Tuesday, before the Treasury Department made its announcement.
A couple encouraging reports on the U.S. economy also helped raise longer-term Treasury yields, which move with expectations for the economy and inflation in coming years. One said fewer U.S. workers applied for unemployment benefits last week than economists expected, while another said manufacturing in the mid-Atlantic region appears to be much stronger than expected.
On Wall Street, Walmart was the heaviest weight on the S&P 500 and fell 9.6% even though it reported stronger profit and revenue for the latest quarter than analysts expected. Investors focused instead on how an important underlying measure of revenue growth at its stores slowed again. Its forecast for profit in the current quarter also fell short of analysts’ expectations.
Given its massive size, Walmart offers a look at how shoppers are doing across the United States. A surprisingly weak update on sales at U.S. retailers overall last month had raised worries that shoppers may be succumbing to pressure from high inflation and a job market that may be looking less solid.
Advance Auto Parts tumbled 26.7% toward its worst loss in three years after the retailer reported weaker revenue for the latest quarter, even though its profit topped expectations. CEO Shane O’Kelly said that “tighter household budgets constrained spending more than we anticipated, especially during the last four weeks of the quarter.”
Spending by U.S. consumers is the main engine of the economy, and a pullback by them could exacerbate what's already a slowdown in growth for the economy.
A pullback could also mean a double-whammy for travel companies, which would see fewer bookings when they have to pay higher prices for fuel. Norwegian Cruise Line Holdings fell 5.3%, while United Airlines sank 4.1% and American Airlines lost 2.7%.
Helping to keep Wall Street’s losses in check was Deere, which reported stronger profit and revenue for the latest quarter than analysts expected. It rose 6.8% as the company said order trends indicate the agriculture equipment business looks set to accelerate after this year.
In stock markets abroad, indexes were mixed in Europe following a stronger finish in Asia.
South Korea’s Kospi soared 5.9% for one of the world’s biggest moves after the two tech titans that dominate its market, Samsung Electronics and SK Hynix, jumped. Such swings have become more common for Seoul's market, which has borne the brunt of rising and falling worries that winning stocks in the artificial-intelligence boom may have shot too high.
AP Business Writers Chan Ho-him and Michelle Chapman contributed to this report.
Options traders Chris Dattolo, Scott Frinzi, and Ravi Bhandari, left to right, work on the floor of the New York Stock Exchange, Monday, Aug. 17, 2026, in New York. (AP Photo/Yuki Iwamura)
Options trader Anthony Spina works on the floor of the New York Stock Exchange, Monday, Aug. 17, 2026, in New York. (AP Photo/Yuki Iwamura)
Options traders Chris Dattolo, Scott Frinzi, Justin Kanda, and Ravi Bhandari, left to right, work on the floor of the New York Stock Exchange, Monday, Aug. 17, 2026, in New York. (AP Photo/Yuki Iwamura)
People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm Thursday, Aug. 20, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Thursday, Aug. 20, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Thursday, Aug. 20, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
Staff arrange an electronic stock board showing Japan's Nikkei index at a securities firm Thursday, Aug. 20, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Thursday, Aug. 20, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
