Architectural Cases

Beginning July 15, 2025, Hampden-Sydney College will see the arrival of Gary Ometer in his new role as vice president for business affairs and finance. With extensive experience in financial management and leadership roles across various organizations, Ometer brings a wealth of knowledge to this position. His expertise spans from overseeing public media finances to managing one of the largest college savings plans in the United States. President Larry Stimpert expresses excitement about Ometer's appointment, highlighting his exceptional qualifications and diverse background. Ometer himself is enthusiastic about contributing to the esteemed institution’s future endeavors.

A seasoned professional with a strong track record, Ometer has served as the chief financial officer for both VPM Media Corporation and the Virginia Foundation for Public Media since 2014. In these capacities, he successfully directed all financial operations. Prior to that, during an 11-year tenure at the Virginia College Savings Plan, he managed its expansive financial activities, ensuring stability and growth. Additionally, between 2000 and 2006, Ometer worked as an investment banker with BB&T Capital Markets, focusing on supporting localities and educational institutions within Virginia. Notably, in July 2022, Governor Youngkin appointed him chair of the Virginia College Building Authority, further underscoring his influence in higher education finance.

Ometer's educational foundation includes a Bachelor of Science degree in Business Administration, concentrating on finance and accounting, earned from The Ohio State University. He holds certifications as a certified public accountant (CPA) and chartered global management accountant, actively participating in professional organizations such as the American Institute of Certified Public Accountants and the Virginia Society of CPAs. Recognizing his contributions, Virginia Business Magazine honored him with the 2013 Virginia CFO of the Year Award in the small nonprofit/government agency category.

Beyond his professional achievements, Ometer maintains active involvement in several advisory councils and committees. As a member of the Controllers Executive Roundtable Steering Committee at Virginia Commonwealth University (VCU) and the VCU School of Business Accounting Advisory Council, he continues shaping the future of accounting education. Furthermore, his community service extends to serving on the board of trustees for the Association for the Preservation of Virginia Antiquities. Throughout his career, Ometer has demonstrated a commitment not only to fiscal responsibility but also to fostering connections within the broader academic and professional communities.

Gary Ometer and his wife, Karin, live in Henrico County alongside their beloved shih tzus. Outside of work, Ometer enjoys outdoor pursuits like fly fishing and bicycling, along with gardening and reading. Karin complements their shared interests by excelling in tennis, currently coaching the varsity boys team and leading the program at the Collegiate School in Henrico. Together, they embody a balance of professional dedication and personal enrichment that aligns perfectly with Hampden-Sydney College's values and aspirations.

Global bond markets experienced significant fluctuations amid rising geopolitical tensions between Israel and Iran, which have reignited inflationary concerns. The yield on 10-year US Treasuries climbed by three basis points to reach 4.43% following a weekend of escalating hostilities. This development has led investors to reassess their expectations regarding interest rate cuts from the Federal Reserve, now pricing in a reduction of 46 basis points by year's end compared to 49 previously. Historical precedents suggest that prolonged periods of conflict may sustain upward pressure on yields.

The intensifying conflict has introduced heightened volatility into financial markets, prompting investors to seek safe-haven assets. Carlos Casanova, a senior economist at Union Bancaire Privee, noted that this trend has driven up crude oil prices, further pressuring bond yields. Initially, oil prices surged due to military actions over the weekend but later moderated throughout trading sessions. However, ongoing fears about sustained high energy costs fueling inflation kept both US and European bonds under strain.

Persistent uncertainty surrounding Middle Eastern tensions adds complexity for Treasury investors already grappling with domestic challenges such as worsening inflation prospects tied to trade disputes initiated by former President Donald Trump and growing national debt concerns. Market participants demanding greater compensation for lending risks are likely to push yields even higher. Additionally, shorter-term yields have seen smaller increases, steepening the yield curve; two-year yields rose two basis points to settle at 3.96%.

Investor attention is now focused on an upcoming auction of 20-year Treasuries. Recent positive demand for long-term securities alleviates some anxiety about potential investor reluctance towards US government debt. Analysts like Wei Liang Chang from DBS Group Holdings highlight that these developments could perpetuate steepening pressures on the Treasury curve. They attribute this to anticipated rises in military spending stemming from uncertain geopolitical conditions and risks associated with persistent inflation should oil prices remain elevated.

As geopolitical dynamics continue to evolve, they underscore the intricate interplay between global conflicts and financial market stability. Investors must navigate these complexities while considering how enduring geopolitical instability might shape future economic landscapes and influence investment strategies accordingly.