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finance

Aug 30, 2023

Finance | Insurance 2023: JEAN STACK

In 2018, Stack, John Song and Alex Sevilla left the government services sector at California-based investment bank Houlihan Lokey to lead government services investment banking for Wisconsin-based Robert W. Baird & Co. Stack had worked 23 years at Houlihan Lokey, where she was a founding member of its Aerospace, Defense & Government practice. Her team […]

Aug 30, 2023

Finance | Insurance 2023: LAWRENCE ‘LARRY’ DI RITA

Di Rita, who had already had an impressive 25-year career in the Navy and federal government, embarked on a second career as a banking executive when he joined Bank of America in 2006. He was named market president for Greater Washington, D.C., in 2019. From 2001 to 2006, Di Rita served as special assistant to […]

Jul 30, 2023

More than bean counters

Chief financial officers have long been tasked with managing the fiscal responsibilities of companies — everything from financial planning to tracking cash flow. But increasingly, other C-suite executives and board members are relying on these finance experts for strategic and operational leadership. In fact, an April 2022 report from global consulting firm McKinsey & Co. […]

This November 2022 commercial for Capital One’s Venture X card starred Taylor Swift, showcasing the pop star’s past iconic looks ahead of her 2023-24 Eras tour. Photo courtesy Capital One Financial Corp.
Jul 30, 2023

Surge of credit card defaults ahead?

Americans owe an all-time high of nearly $1 trillion on their credit cards, setting the stage for a possible surge in consumer delinquencies and defaults. “There are nascent signs of trouble brewing,” investment firm Glenmede Trust Co. warned in an April research note. “An ever–larger share of credit balances have transitioned to early stages of […]

“If you haven’t been ... in a room where you’re the only one that looks like yourself, it can be a challenge,” says Thomas Ransom, Virginia regional president for Truist Financial Corp. Photo by Shandell Taylor
Jul 30, 2023

Building equity

When BB&T recruited Thomas Ransom, a Black economics student at Hampden-Sydney College, to join its management development program in the late 1990s, he quickly had to pick up the world of banking and its culture.  The Urbanna native says he’d never met a banker before starting at BB&T and certainly didn’t know what moves to […]

Jul 25, 2023

Atlantic Union to acquire American National Bank

Updated 4:15 p.m. July 25 Richmond-based Atlantic Union Bank’s parent company announced Tuesday that it has entered into an agreement to acquire American National Bankshares Inc., which is headquartered in Danville and is the holding company of American National Bank and Trust Co. The combined bank will have total assets of $23.7 billion as of […]

May 23, 2023

Alexandria’s QED Investors raises $925M for two new funds

Alexandria-based fintech venture capital firm QED Investors raised $925 million for two new funds, QED announced Tuesday. The funding comes from two capital commitments: a $650 million oversubscribed early stage fund and a $275 million early growth stage fund, according to a news release from QED, a key investor in San Francisco-based personal finance company […]

Apr 12, 2023

Paymerang acquires Aussie AI data platform

Chesterfield County-based payment and invoice automation company Paymerang LLC has acquired Australian-based artificial intelligence data extraction and analysis platform Sypht and the assets of KwikTag, an invoice automation company, Paymerang announced Tuesday. Paymerang acquired both from Tempe, Arizona-based tech firm enChoice Inc. Terms of the deals were not disclosed and the acquisitions wer[...]

Mar 13, 2023

Va. bankers say they’re not worried by SVB collapse

Last weekend was pretty tense for bankers, even for those leading institutions quite distant and different from Silicon Valley Bank, which Friday became the second largest bank to fail in U.S. history. Federal regulators shut down SVB after a run on the bank. By Sunday, regulators also shut down New York’s Signature Bank, which became […]

Liberty University Freedom Tower
Mar 1, 2023

Liberty to pay off $189M in bonds early

Liberty University plans to pay off more than $189 million in taxable bonds next month, according to paperwork filed Wednesday by the Bank of New York Mellon Trust Co. NA. The prices will be set March 31, which will include accrued interest. Liberty issued a $100 million bond in 2012 with a 5.1% interest rate, […]

Feb 22, 2023

ManTech names new CFO

Herndon-based government contractor ManTech International Corp. has named Michael D. Ruppert as its new vice president and chief financial officer, following the retirement of Judy Bjornaas. The appointment was effective Tuesday. Bjornaas spent a dozen years at ManTech, which was acquired by The Carlyle Group Inc. last year, and contributed to its growth toward becoming […]

Carrie Hunt, president and CEO of the Virginia Credit Union League, says that many Virginians live in banking deserts. Photo by Caroline Martin
Jan 30, 2023

Members only

Credit unions in Virginia would like to grow their membership, but a rule change relaxing the state’s policy is not in the cards this spring. This year’s short General Assembly session — in an election year with a split legislature — makes it harder to pass bills with any controversial elements, and any major expansion […]

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