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2024 Virginia 500: Banking | Finance
JOHN C. ASBURY CEO, ATLANTIC UNION BANKSHARES, RICHMOND G. ROBERT ASTON JR. EXECUTIVE CHAIRMAN, TOWNEBANK, SUFFOLK VIKRAM ‘VIK’ ATAL PRESIDENT AND CEO, PRA GROUP, NORFOLK THOMAS I. BARKIN PRESIDENT AND CEO, FEDERAL RESERVE BANK OF RICHMOND, RICHMOND JEFF BENTLEY PRESIDENT AND CEO, NORTHWEST […]
Appalachian Community Capital to launch Green Bank
Appalachian Community Capital, the Christiansburg-based community development financial institution for the Appalachian Valley, plans to launch the Green Bank for Rural America with a $500 million award from the Environmental Protection Agency, it announced Friday. Focused on financing up to 2,000 new energy projects that could create up to 13,000 jobs, the Green Bank will […]
Beyond number crunching
Becoming a chief financial officer requires much more than just being a good accountant or number cruncher. Indeed, the Journal of Accountancy in 2023 reported a noticeable shift of the top finance officer’s job from being a “CF-No” — or someone who just pulls tight the purse strings — to the “CF-Know.” That’s a leader […]
Merger mania
Banking mergers and acquisitions are picking back up again after the slowest year in recent history, and Virginia is no exception. Last year marked a modern low in merger and acquisition activity, with only 98 deals completed nationwide. That’s not just the lowest level of activity since the pandemic — it’s the slowest year since […]
DALAL SALOMON
When Dalal Salomon first went to work in the financial sector in the 1980s, compensation was strictly on a commission basis. That meant no vacation, no sick leave and no paycheck unless she could drum up clients. At her first firm, where she was a novelty as the first and only female financial planner, she […]
Virginia Business announces 2024 Va. CFO Awards winners
Virginia Business recognized some of the state’s top chief financial officers from nonprofits and businesses across the commonwealth Thursday at its 2024 Virginia CFO Awards ceremony. This year’s Virginia CFO Awards black-tie banquet — the largest annual gathering of CFOs in Virginia — was held at The Jefferson Hotel in Richmond. “Being nominated for these […]
Capital One, Walmart end credit card agreement
McLean-based Capital One Financial is no longer the exclusive issuer of Walmart consumer credit cards. The two Fortune Global 500 companies announced Friday that they had ended their consumer card agreement. The announcement follows problems first uncovered in late 2022 and early 2023, according to Reuters reporting. Capital One became the exclusive issuer of Walmart’s […]
Chesterfield fintech Paymerang to be acquired for $475M
Chesterfield County-based payment and invoice automation company Paymerang has signed a definitive agreement to be acquired by Atlanta-based corporate payments processor Corpay for $475 million, according to an SEC filing by Corpay and a news release. The transaction is expected to close in the second quarter of the year, subject to regulatory approval and standard […]
Chartway Credit Union names new CFO
Virginia Beach-based Chartway Credit Union has hired Sander Casino as its chief financial officer, the credit union announced Wednesday. Casino was most recently senior vice president of finance for Raleigh, North Carolina-based Local Government Federal Credit Union and its affiliate Civic Credit Union. Before joining LGFCU in 2012 and Civic in 2018, Casino was with […]
Wilbanks Smith and Thomas acquired
Norfolk-based Wilbanks Smith and Thomas Asset Management has been acquired by Cleveland-based registered investment adviser Clearstead Advisors. The companies signed the merger in February 2024. Financial terms of the acquisition, which closed April 1, were not disclosed. Clearstead rebranded WST’s advisory business as Clearstead Advisory Solutions, a division of Clearstead Advisors. A wealth an[...]
Capital One-Discover deal faces federal scrutiny
McLean-based Capital One Financial announced plans in February to buy Discover Financial Services for $35.3 billion in an all-stock deal that would mark Capital One’s largest ever acquisition and make it the nation’s biggest credit card lender. The transaction is expected to close in late 2024 or early 2025, according to the banks. At close, […]
Virginia Tech announces new CFO
Virginia Tech has hired Simon Allen as its chief financial officer and vice president for finance, the university announced Monday. Allen is currently vice president for finance and CFO of the Ithaca campus of Cornell University. In his new role, which he’ll start May 6, Allen will report to Virginia Tech Executive Vice President and […]
