2025 In-House Counsel Awards: Rachael R. Lape

Number of years with firm: 15

Law school: University of Virginia School of Law (2000)

Legal leadership: I have steered Atlantic Union Bank through periods of incredible growth with strategic and risk advice, helping transform it from a small local community bank to a major regional financial services powerhouse with $37 billion in assets. I led sensitive negotiations for acquisitions of five banks and managed response to a three-year regulatory enforcement investigation that resulted in a positive outcome for the industry. I established risk strategies for an online-only bank expansion, led the successful rollout of the federal Paycheck Protection Program, and implemented deep partnership strategies. I was also a key leader in developing Atlantic Union Bank’s $11 billion commitment to community investment and serve as a panelist for industry groups including the ABA and Virginia Bar Association.

Pro bono work/community or civil involvement: I am a board member of the Library of Virginia Foundation Board of Directors and co-chair of the Corporate and Foundation Gifts Committee for the Library of Virginia Campaign. I have also provided pro bono work through Wills for Heroes.
On my identity/background: Being a woman and coming from a disadvantaged background made me comfortable with being the only person in the room with my particular experience. Growing up in a trailer without running water and later seeing few women in banking leadership, I learned to embrace discomfort and seek new experiences and responsibilities. My legal team is an all-woman team, and I remain passionately committed to advancing women in the workplace.

Most pressing issue that IHCs face: Managing legal and reputational risk in a chaotic environment where legal principles and assumptions no longer apply.