Local economist Hugh Johnson announces retirement

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ALBANY. N.Y. (NEWS10) – Hugh Johnson, Chairman Emeritus and Chief Economist for Graypoint LLC and Hugh Johnson Advisors, announced that he plans to retire at the end of this year.

Johnson has worked with Hugh Johnson Advisors for 16 years and Graypoint for over 2 years. He will continue as Chairman Emeritus of Graypoint and provide guidance and economic forecasting to Graypoint.

“I want you to know that it has been an honor to serve this organization. I truly value the time that I have worked with the many employees of the company and to be part of launching and building Hugh Johnson Advisors, now Graypoint in its early stages,” Johnson said. “Any progress that the companies have made has been truly due to the efforts of these employees. Their dedication and continuous commitment to excellence have made the company what it is today, setting the stage for it to become a widely-recognized leader in the financial planning and investment industry.”

Johnson has been a member of the national investment community for many years working as:

  • Chief Investment Officer of First Albany Companies beginning in 1979
  • Chairman and President of First Albany Asset Management in 1990
  • In 2005, Hugh and other First Albany Asset Management employees joined Illington Fund Management to form Johnson Illington Asset Management
  • In 2010, the employees bought the interest of ThomasLloyd Asset Management (successor to Illington Fund Management) and renamed the company Hugh Johnson Advisors
  • In 2019, the company merged with Bender Lane Advisory and formed what was to become Graypoint LLC.

Johnson has also made many national media appearances:

  • CNBC
  • Bloomberg TV
  • Bloomberg Radio
  • The PBS News Hour
  • Barron’s
  • The Wall Street Journal
  • Addressed the National Press Club in Washington
  • Testified before Congress

Other milestones in Johnson’s career include:

  • One of the most sought after economists for his views following the October 1987 stock market crash
  • Became an educator serving on the faculty of RPI and also Union Graduate College (now Clarkson)
  • Served on the Investment Advisory Committee for the New York Common Retirement Fund
  • Served as an advisor to the New York State Assembly Committee on Ways and Means
  • Served as a member of the Executive Committee of the National Finance Committee of the Democratic Party
  • Has served on the Boards of Security Mutual Life Insurance Company of New York and Pursuit (formerly NYBDC).

In response to Johnson’s announcement, Graypoint CEO Dan Nolan stated, “Hugh’s presence at Graypoint these past two years as well as his national reputation as an economist and investment advisor has been instrumental in our fast start. As we build a national practice and help our clients’ wealth fulfill their purpose, his guiding hand and deep knowledge of financial market history have been invaluable. We wish him well as he embarks on a new chapter and look forward to his ongoing input and forecasts.”

Johnson stated, “Although I will end my formal relationship as part of Graypoint and Hugh Johnson Advisors, I’m looking forward to remaining connected with our team as Chairman Emeritus and sharing my financial market and economic forecasting work with Graypoint and its Investment Committee.”

In forming Graypoint LLC, Johnson, Nolan, and Graypoint Chairman Daniel Rutnik created the infrastructure for Hugh Johnson Advisors’ clients to continue to receive outstanding service and economic insights whenever Johnson decided to step down from the firm, while also accelerating the expansion of its national investment management and financial advisory practice. Nolan will continue to lead Graypoint’s team of 45 employees following Johnson’s retirement.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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