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finance

Va. Secretary of Finance Stephen Cummings
Jan 25, 2023

Tax cuts are the way to grow

Virginia’s finances are in excellent shape, paving the way for the General Assembly to agree with Gov. Glenn Youngkin that it’s time to cut taxes in the commonwealth. It’s your money, not the government’s, and the government has collected too much of it over the last few years. In a snapshot, Virginia’s coffers are full. […]

Jan 17, 2023

TowneBank completes Farmers Bank acquisition

Suffolk-based TowneBank has completed its acquisition of Windsor-headquartered Farmers Bankshares Inc., the parent company of Farmers Bank, TowneBank announced Tuesday. The $56 million deal created a combined company worth $17.5 billion in total assets, loans of $10.9 billion and $14.5 billion. It adds Isle of Wight and Southampton counties to TowneBank’s service area, as well […]

Dec 5, 2022

GMU names EVP for finance and admin

George Mason University has promoted Deb Dickenson to executive vice president for finance and administration, the university announced Monday. Dickenson had been serving as interim senior vice president for administration and finance since June. In her new role, she will be responsible for universitywide leadership, strategic oversight and financial and operational management of the administrativ[...]

Oct 25, 2022

Stihl names finance VP

Virginia Beach-based chainsaw and outdoor power equipment manufacturer Stihl Inc. has named Uwe Hirsch its vice president of finance, effective Nov. 7. Hirsch will plan, direct and control the company’s financial plans and will support IT operations and system implementations. He was most recently global vice president of finance, controlling and purchasing in the automotive […]

Brian Skinner headshot
Oct 14, 2022

TowneBank names president, regional banking director

TowneBank has promoted Brian Skinner to the newly created role of president and regional banking director for all of its markets in Virginia and northeastern North Carolina, the Suffolk-based bank announced this week. “Brian is a dedicated member of the Towne family with a proven track record of leading both emerging and seasoned financial professionals […]

Sep 29, 2022

Keeping watch

The question of the quarter: Are we entering a recession? One key indicator of a future recession can be inflation, which hit a 40-year high this year. Between June 2021 and June 2022, the consumer price index increased by 9.1%, according to the U.S. Bureau of Labor Statistics. One of the first tangible signs for […]

Sep 26, 2022

Money matters

For the most part, the most prominent banking institutions in Hampton Roads stayed the same in fiscal year 2021, with Suffolk-based TowneBank holding the top market share of 27.49% (up nearly 2% from the Federal Deposit Insurance Corp.’s June 30, 2020, report) and second-place holders Truist and Wells Fargo banks with just below 20% each. […]

Aug 25, 2022

Chesterfield-based Paymerang expands to Wise County

Chesterfield County-based payment and invoice automation company Paymerang LLC will expand its operations to Southwest Virginia, creating 50 jobs in Wise, the company announced Thursday. The move follows a previous expansion of its Chesterfield County headquarters. In Wise, employees will work in software development, cloud engineering and payment operations. Paymerang is the second company to jo[...]

Aug 5, 2022

PRA Group promotes exec to chief HR officer

Norfolk-based international debt acquisition company PRA Group Inc. has promoted executive LaTisha Tarrant to chief human resources officer. Tarrant will start her new role Aug. 15. She currently serves as senior vice president, deputy general counsel and corporate secretary for the global financial services company. She has worked for PRA Group since 2016. “Talent recruitment, […]

Giovanna Genard
Aug 1, 2022

PRA Group hires communications exec

Norfolk-based PRA Group, a $1.1 billion debt-purchasing company, has hired Giovanna Genard as vice president of external affairs and marketing leader. Genard will develop and oversee PRA Group’s global external communications, public relations and brand strategy. Before joining PRA Group, Genard served as Old Dominion University’s assistant vice president for public relations and strat[...]

(L to R) Virginia Business Editor Richard Foster; Dan Bryant of Altria Group; David Argabright of Feeding Southwest Virginia; Hossein Sadid of the Virginia Museum of Fine Arts; Cynthia Macturk of Fahrenheit Advisors; and Virginia Business President and Publisher Bernie Niemeier. (Bryant accepted the award for Altria CFO Sal Mancuso.)
Jun 16, 2022

Virginia Business announces 2022 Va. CFO Awards winners

Virginia Business presented awards to chief financial officers at companies and nonprofits around the commonwealth Thursday night. This year’s Virginia CFO Awards banquet — which is the largest annual gathering of CFOs in Virginia — was held at The Jefferson Hotel in Richmond. Fifty-one CFOs from around the commonwealth were nominated in four award categories, […]

May 18, 2022

Capital One to reopen offices in September

McLean-based Capital One Financial Corp. will return to U.S. offices in a hybrid model on Sept. 6, CEO Richard Fairbank announced Wednesday. Capital One has delayed planned hybrid reopenings twice, from September 2021 to November 2021, and then indefinitely when the company announced its decision to postpone again in October 2021. “As we get closer […]

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