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First Manhattan
First Manhattan (FM) is a wealth management firm founded in 1964 by a group of financial industry executives led by David "Sandy" Gottesman. FM remains independently owned and operated, with operating subsidiaries that include an SEC‑registered investment adviser and a broker‑dealer registered with FINRA. As of 2024[update], FM is led by Zac Wydra, CEO and portfolio manager, and Alvaro Spinola, CFO/COO.
FM is based in New York City.
Sandy Gottesman co-founded First Manhattan in 1964. He died on September 28, 2022, at the age of 96.
Robert Gottesman, Sandy Gottesman's son, joined First Manhattan in 1987.
In March 2026, Beddow Capital Management, a registered investment advisor with more than $300M in assets under management, became part of First Manhattan. Edward Beddow joined the Firm as Senior Managing Director and Portfolio Manager. He has nearly 40 years of experience in the financial markets and previously worked in investment banking at Dean Witter Reynolds. He is based in Jackson, Wyoming.
In January 2026, Adam Yale joined First Manhattan as a Portfolio Manager, based in Omaha, Nebraska. Yale previously served as a Partner at Lawson Kroeker Investment Management and has more than two decades of experience managing client portfolios. His move marked a return to the Firm where he began his investment career. Yale brought longstanding client relationships and has familial ties to Borsheims, the Omaha-based jeweler retailer in which Berkshire Hathaway purchased a majority interest in 1989.
In August 2025, the team from Roanoke Asset Management, a New Jersey-based registered investment advisor with over $350M in assets under management, joined First Manhattan. The firm was founded in 1978 by Edwin Vroom, who co-managed client portfolios alongside Adele Weisman for over four decades. Both joined First Manhattan as Senior Managing Directors and Portfolio Managers. The team brought with them a longstanding focus on fundamentals-based investing and personalized client service.
In April 2025, Grand‑Jean Capital Management, a registered investment adviser with more than US$500 million in assets under management, joined First Manhattan. Steven Grand‑Jean founded Grand‑Jean Capital Management in 1990 after a 20‑year career in investment banking.
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First Manhattan
First Manhattan (FM) is a wealth management firm founded in 1964 by a group of financial industry executives led by David "Sandy" Gottesman. FM remains independently owned and operated, with operating subsidiaries that include an SEC‑registered investment adviser and a broker‑dealer registered with FINRA. As of 2024[update], FM is led by Zac Wydra, CEO and portfolio manager, and Alvaro Spinola, CFO/COO.
FM is based in New York City.
Sandy Gottesman co-founded First Manhattan in 1964. He died on September 28, 2022, at the age of 96.
Robert Gottesman, Sandy Gottesman's son, joined First Manhattan in 1987.
In March 2026, Beddow Capital Management, a registered investment advisor with more than $300M in assets under management, became part of First Manhattan. Edward Beddow joined the Firm as Senior Managing Director and Portfolio Manager. He has nearly 40 years of experience in the financial markets and previously worked in investment banking at Dean Witter Reynolds. He is based in Jackson, Wyoming.
In January 2026, Adam Yale joined First Manhattan as a Portfolio Manager, based in Omaha, Nebraska. Yale previously served as a Partner at Lawson Kroeker Investment Management and has more than two decades of experience managing client portfolios. His move marked a return to the Firm where he began his investment career. Yale brought longstanding client relationships and has familial ties to Borsheims, the Omaha-based jeweler retailer in which Berkshire Hathaway purchased a majority interest in 1989.
In August 2025, the team from Roanoke Asset Management, a New Jersey-based registered investment advisor with over $350M in assets under management, joined First Manhattan. The firm was founded in 1978 by Edwin Vroom, who co-managed client portfolios alongside Adele Weisman for over four decades. Both joined First Manhattan as Senior Managing Directors and Portfolio Managers. The team brought with them a longstanding focus on fundamentals-based investing and personalized client service.
In April 2025, Grand‑Jean Capital Management, a registered investment adviser with more than US$500 million in assets under management, joined First Manhattan. Steven Grand‑Jean founded Grand‑Jean Capital Management in 1990 after a 20‑year career in investment banking.