By MIKE BARON
The shareholders of Rumson-Fair Haven Bank & Trust have spoken, and they apparently arent all that worried that hedge fund honcho George Hall is going to turn the their well-heeled area into a Pottersville.
Hall is the founder of investment firm Clinton Group, which has more than $2.5 billion in assets under management, according to its website. On May 11, he won his battle to remove William Barrett as chairman of of the five-branch bank after an independent judge finalized the results of the banks annual shareholder vote. Hall is replacing Barrett on the board, and a new chairman is set to be chosen when the banks directors meet on Monday.
While the area is undoubtedly a far cry from Bedford Falls, the fictional setting of the classic movie “Its a Wonderful Life,” Barrett had reportedly likened Hall to Henry Potter, the films villain, amid criticism by Hall that the bank wasnt doing enough local lending.