Atlantic Union CFO announces retirement

Henrico County-based Atlantic Union Bankshares announced Thursday that executive vice president and chief financial officer Robert M. Gorman plans to retire on or before March 31, 2026.

He will continue to hold the positions until his successor’s appointment or retirement date, whichever is earlier. After a successor is appointed, Gorman will assist the company in an advisory capacity to help with the transition.

Atlantic Union has launched a nationwide search for a successor and will consider internal and external candidates. A company spokesperson said Atlantic Union hopes to have a successor in place by the end of the year.

“Rob’s focus on delivering top-tier financial performance and creating long-term shareholder value has established Atlantic Union as a well-respected market leader,” CEO John Asbury said in a statement. “We are grateful for his dedication, sound advice, leadership and consistently selfless approach to his role. We congratulate Rob as he prepares to conclude his distinguished career and enter his next chapter of a well-earned retirement. On behalf of all of us at Atlantic Union, we wish to thank Rob for all he has done for our company, teammates and shareholders.”

Gorman has been Atlantic Union’s CFO since 2012, as it rose from a $4 billion asset community bank focused primarily on serving customers in Richmond and surrounding areas to a nearly $40 billion institution with 129 branches across Virginia and parts of Maryland and North Carolina, as of Dec. 31, 2024. He previously worked for SunTrust as corporate strategic financial officer and a senior vice president, as well as serving in roles at FleetBoston Financial and Liberty Mutual Insurance Group.

“It has been a great privilege to serve as Atlantic Union’s chief financial officer over the past 13 years and to work alongside John and such a talented and dedicated group of banking professionals,” Gorman said in a statement. “Together, we have achieved significant milestones, navigated numerous challenges and built a strong foundation for the future. I believe that Atlantic Union is well-positioned to continue to generate sustainable, profitable growth and to build long-term value for our shareholders.”

With its $1.3 billion acquisition of Maryland’s Sandy Spring Bancorp completed in April, the bank gained 53 branches across Virginia, Maryland and Washington, D.C. Before merger-related adjustments, the newly combined Atlantic Union has $38.7 billion in total assets, $32.1 billion in total deposits and $30 billion in total loans held for investment, the bank reported.

Last week, Atlantic Union announced that Bradley S. Haun will be its next chief risk officer when Sherry Williams retires July 1.