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MainStreet Bancshares names business banking division head
Fairfax-based MainStreet Bancshares Inc. (parent company of MainStreet Bank) announced Wednesday that Thomas Cary has been promoted to lead MainStreet Bank’s business banking division. Cary has been with MainStreet Bank as a business banker for 10 years. While earning his bachelor’s degree in finance from George Mason Univer[...]
Navy Federal Financial Group names chief operating officer
Navy Federal Financial Group, a wholly-owned subsidiary of Vienna-based Navy Federal Credit Union, announced Tuesday it has hired Diane Young as chief operating officer. She joins the group following the retirement of Patricia Wood, who had served in the role since 2015. Young most recently was a vice president for Goldman Sac[...]
E-Trade stockholders approve $13B acquisition by Morgan Stanley
Arlington-based online brokerage E-Trade Financial Corp. announced that on Monday more than 99% of its stockholders approved its $13 billion acquisition by Morgan Stanley, which was first announced in February. E-Trade stockholders will receive 1.0432 Morgan Stanley shares for each of their E-Trade shares as a result of the acquisition. The deal is expected to […]
Freddie Mac names VP multifamily investments, portfolio management
Tysons-based Freddie Mac announced Monday that Ling Xu has been promoted as the Fortune 500 company’s vice president of multifamily investments and portfolio management. In her new role, she will oversee market risk and capital strategy, as well as manage multifamily portfolio strategy, hedging and balance sheet management. Sh[...]
Navy Federal ranked No. 4 U.S. brand for customer experience
Big Four accounting firm KPMG announced Monday it has named the Vienna-based Navy Federal Credit Union No. 4 on its annual list of top 10 U.S. brands for customer experience excellence. The KPMG U.S. Customer Experience Excellence report identifies top-performing brands and industries in terms of customer experience based on a survey of approximately 11,000 […]
Montreal investment firm buys Herndon software company
Montreal-based software company investor Valsoft Corp. announced Thursday it will acquire Herndon-based AllTrust Networks, which provides check cashing software. A transaction amount was not disclosed. “We are proud of what we’ve accomplished and want to continue in that direction within Valsoft,” AllTrust CEO Karl Lewis said in a statement. “We have invested significantly in the […][...]
Martinsville credit union announces leadership changes
Martinsville-based ValleyStar Credit Union announced Friday it has promoted Lisa M. Lambrecht to executive vice president. She was previously the chief financial officer at the credit union. In her new role, she will report to the president and CEO, and oversee the CFO, chief operating officer, chief marketing officer, the risk [...]
PNC names new Greater Washington regional president
Pittsburgh-based PNC Financial Services Group Inc. announced Tuesday that Jermaine Johnson will succeed Richard K. Bynum as Greater Washington regional president as of Aug. 1, overseeing the bank’s operations in the greater Washington, D.C., area, including Northern Virginia and surrounding Maryland counties. Currently t[...]
McLean-based MorganFranklin Consulting public practice acquired by BDO
Accounting and advisory firm BDO USA purchased the public sector practice at McLean-based MorganFranklin Consulting, BDO announced this week. The sale, terms of which were not disclosed, will close July 16, according to a news release. MorganFranklin’s public sector practice works with several federal agencies, including the Department of Defense, the Army, the Marine Corps, […]
Virginia Bankers Association elects new board officers
The Virginia Bankers Association (VBA) announced Tuesday the newly elected officers for its 2020-21 board of directors: Chairman John C. Asbury and Chairman-Elect Leton L. Harding Jr. Asbury has been the president and CEO of Richmond-based Atlantic Union Bankshares Corp. since October 2016, and has served as CEO of its holding company since January 2017. […]
Chicago company acquires Reston-based PagnatoKarp
Reston-based wealth management firm PagnatoKarp has been acquired by Chicago-based Cresset Asset Management, the companies announced Wednesday. A transaction amount was not disclosed, but with the acquisition of PagnatoKarp, Cresset now has $9.5 billion in assets under management. PagnatoKarp had $2.3 billion in assets under management prior to the acquisition. “PagnatoKarp was born during the Great […][...]
Navy Federal Credit Union taps new CTO
Navy Federal Credit Union has hired Amtrak’s chief technology officer, Sovan Shatpathy, to serve as its new CTO, leading the credit union’s information services department. “Our ISD teams are behind nearly all of the technology our members and employees use,” said Navy Federal’s chief information officer, T[...]
