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TowneBank hires chief risk officer, senior EVP
Suffolk-based TowneBank appointed Ernest Piccioli as senior executive vice president and chief risk officer, the bank announced Monday. Piccioli is based at TowneBank’s headquarters. As chief risk officer, he will be responsible for governance of the company’s risk programs and oversee risk management, vendor management, cre[...]
Truist grants $500k to aid Richmond Community Wealth Building office
Truist Foundation announced it has made a $500,000 grant that will ultimately help Richmond’s Office of Community Wealth Building provide further financial, education and employment coaching to city families, the philanthropic arm of Truist Financial Corp. announced in a press conference Friday. “At Truist, our purpose [...]
Virginia Business announces 2023 Va. CFO Awards winners
Virginia Business presented its 2023 Virginia CFO Awards Thursday during the magazine’s annual awards banquet honoring chief financial officers from nonprofits and businesses from across the commonwealth. This year’s Virginia CFO Awards banquet — the largest annual gathering of CFOs in Virginia — was held at The Jeff[...]
Va. Board of Accountancy elects next chair
Wendy P. Lewis, a partner in KPMG LLP’s audit practice, will become chair of the Virginia Board of Accountancy on July 1. Lewis is currently the board’s vice chair; her term as chair will end on June 30, 2024. “I’m honored to step into the role of chair. … As the first Black woman to […]
NoVa chamber inducts Deb Gandy as next chair
Deborah G. “Deb” Gandy, senior managing director at Chevy Chase Trust Investment Advisors, was inducted as 2023-2024 chair of the Northern Virginia Chamber of Commerce on Tuesday. Gandy, the first Black woman to chair the chamber, previously served as the chamber’s 2022-2023 vice chair and succeeds Matt McQueen, Peraton In[...]
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[...]
Forvis names new Va. managing partner
Forvis has named Jennifer Wold as managing partner of its Virginia practice unit, the accounting firm announced Monday. Wold’s role becomes effective June 1. She succeeds Tom Hazelwood, who has served as managing partner for the past year. Wold will oversee offices in Richmond, where she will be based, and in Norfolk. She [...]
Blue Ridge Bank names CEO
G. William “Billy” Beale became CEO of Blue Ridge Bank National Association on Sunday, giving the bank a leader separate from that of its parent company, Charlottesville-based Blue Ridge Bankshares Inc. “I am excited to have the opportunity to join this team at a critical time in the banking industry,” Beale said in a st[...]
May 2023 Top Five
The top five most-read daily news stories on VirginiaBusiness.com from March 14 to April 13 included Washington Commanders owner Dan Snyder’s efforts to sell the Ashburn-based NFL team to a group of bidders including Philadelphia 76ers owner Josh Harris and NBA legend Magic Johnson. 1 | Naval operations building in Suffolk sells for $33M Home […]
CarLotz, Need Supply founders launch schools startup
For about a decade after meeting at a business function, Michael Bor and Chris Bossola met for lunch periodically, swapping stories about their shared experiences in launching and scaling companies. Their conversations eventually landed on what they say could transform funding for public schools nationwide. The two have plenty o[...]
Fed Fifth District economy shrinks slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has contracted slightly since March, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book[...]
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 were completed April […][...]
