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Capital One to buy Discover in $35.3B deal
UPDATED 8:35 P.M. Feb. 19 McLean-based Capital One Financial is buying Discover Financial Services for $35.3 billion in an all-stock deal that marks Capital One’s largest ever acquisition, the two credit card giants announced Monday evening. Under the terms of the acquisition agreement, Discover shareholders will receive 1.0192 Capital One shares for each share of […]
CEO Hunt leaving Va. Credit Union League
Carrie Hunt is leaving at the end of the month as president and CEO of the Virginia Credit Union League, and Chief Operating Officer Karima Freeman will serve as interim head of the trade association, VACUL announced Tuesday. Hunt, a seasoned political lobbyist, is leaving to become chief advocacy officer of America’s Credit Unions, a […]
Virginia Credit Union, Member One announce merger
Chesterfield County-based Virginia Credit Union and Roanoke-based Member One Federal Credit Union announced plans to merge Thursday, a deal that would create the state’s third largest credit union, with a combined $6.7 billion in assets and 500,000 members. VACU is currently the fourth largest Virginia-based credit union, with $5.18 billion in assets, according to the […]
The times they are a-changin’
Talk of a looming recession has seemed endless for the past few years. However, with their eyes on long-term retirement investments, many wealth management advisers’ clients have avoided dramatic, emotion-driven decisions. Educated and guided by advisers, they understand the cyclical nature of investing and therefore are considering varying options on where to put their money. […]
Making bank
Suffolk-based TowneBank continued to lead Hampton Roads with the largest market share in fiscal 2022, 25.67%, according to the Federal Deposit Insurance Corp.’s June 30, 2022, report. However, that figure declined from fiscal 2021, when the bank held a 27.49% market share. Meanwhile, Charlotte, North Carolina-based Truist Bank is threatening to close in on that […]
Finance | Insurance 2023: FRANK LUCIA
Since 2017, Lucia has led Delta Dental of Virginia, one of the state’s largest dental benefits carriers, with about 350 employees and $766 million in revenue, and its holding company, Corvesta. Previously, he was president and CEO of Dean Health Plan and worked in finance for Cigna and WR Grace. Lucia has been involved with […]
Finance | Insurance 2023: PAUL B. MANNING
Known for their philanthropy, Manning and his wife, Diane, donated $100 million in January to the University of Virginia to create the Paul and Diane Manning Institute of Biotechnology, which will focus on research into new medical treatments like cellular and gene therapies, nanotechnology and immunotherapy. Manning has said he hopes the institute will lead […]
Finance | Insurance 2023: TOM RYAN
Ryan’s business philosophy is simple: “Take great care of your team and they’ll take care of our [customers], and the business will take care of itself.” Ryan joined Langley Federal in 2012 after more than 20 years with Massachusetts-based Digital Federal Credit Union, where he was executive vice president and chief operating officer. With more […]
Finance | Insurance 2023: JOSEPH W. ‘JOE’ MONTGOMERY
It’s coming up on Montgomery’s 50th anniversary of working at Optimal Service Group of Wells Fargo Advisors, a wealth management firm with about $28 billion in funds under advisement. A former All-American captain of William & Mary’s football team, Montgomery was inducted this year into the Virginia Sports Hall of Fame. When he wasn’t chosen […]
Finance | Insurance 2023: EVELYN LEE
Lee has worked in banking for more than 23 years, and she couldn’t be happier to have found her place overseeing the Greater Washington, D.C., region at Truist. “I wanted to be financially independent, and I wanted variety,” she says. “Every day is different, and I work with people I admire and learn from.” A […]
Finance | Insurance 2023: BYRON BOSTON
A St. Louis native who was the first person in his family to graduate from college, Boston says he’s learned a lot, having “lived my life outside of my comfort zone since the age of 18.” After earning his degree from Dartmouth College, he received an MBA from the University of Chicago Booth School of […]
Finance | Insurance 2023: MARY McDUFFIE
This year marks the 90th birthday of Navy Federal, the world’s largest credit union. As a leader focused on helping others thrive, McDuffie sees this milestone as an occasion to celebrate the credit union’s dedication to its members, writing on LinkedIn, “I’m thankful every day to be part of an organization that puts its people […]
