Bay Banks of Virginia names new CFO

Bay Banks of Virginia Inc., the holding company of Richmond-based Virginia Commonwealth Bank and VCB Financial Group, has named Judy C. Gavant executive vice president and chief financial officer of the holding company and the bank.

She has more than 36 years in accounting, taxation, finance, and mergers and acquisitions. Gavant most recently served as senior vice president, controller and chief accounting officer of Xenith Bankshares Inc.

Before joining Xenith in 2010, Gavant held a variety of positions with Owens & Minor Inc., Tredegar Corp. and Dominion Energy Inc., as well as being one of the initial leaders of a startup technology company.  

Gavant began her career with PricewaterhouseCoopers LLP, where she served in the firm's audit and tax practices. She holds a bachelor’s degree in accounting from Louisiana State University and a master’s in taxation from Virginia Commonwealth University. She is a CPA in Virginia and Texas.

Gavant takes over the CFO position from James A. Wilson, Jr., who retired after nearly 30 years at the bank on March 12.

Founded in the 1930s, Virginia Commonwealth Bank is based in Richmond, with 18 banking offices located throughout the Richmond market area, the Northern Neck region, Tri-Cities area of Petersburg, Hopewell and Colonial Heights, Middlesex County and Suffolk.

VCB Financial Group provides management services for personal and corporate trusts, including estate planning, estate settlement and trust administration.