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Manufacturing 2025: HÖGBERG, FREDRIK 

A native of Sweden, Högberg became president of Volvo Penta North America in 2022. He joined Volvo Group in 1994 and has held a variety of positions, including in digital services, retail development and aftermarket sales. He previously was senior vice president for services, solutions, digital and IT for Mack and Volvo Trucks North America.

Högberg oversees the strategic direction and execution of the company’s operations throughout the continent. Sharing the name of the vehicle manufacturer, Volvo Penta is a supplier of engines and power systems for marine and industrial applications, and it runs an engine test facility in Suffolk. The company also has an assembly plant in Tennessee, a parts distribution center in Mississippi and a warehouse in Ontario, Canada.

Högberg earned his marketing degree at IHM Business School in Sweden and his MBA from the United Kingdom’s Henley Management College.

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Banking | Finance 2025: BERNERT III, LAWRENCE ‘LARRY’

After Clearstead Advisors, an Ohio-based financial advisory firm, acquired the assets of Norfolk-based Wilbanks Smith & Thomas Asset Management last year, Bernert’s job evolved from WST’s principal to senior managing director for Clearstead Advisory Solutions.

Prior to the acquisition, WST boasted more than $5 billion of assets under management, which it added to Clearstead’s portfolio of $47 billion under advisement. The company has more than 270 employees and 12 offices nationwide.

Bernert joined WST in 1995 and previously served as the firm’s director of research. While earning his degree in English literature at the University of Virginia, Bernert studied at Cambridge University. He also earned his MBA at U.Va.

In 2024, the Virginia General Assembly appointed Bernert to the board of trustees of the Virginia Retirement System. Bernert also sits on the boards of The Children’s Hospital of the King’s Daughters and the Jamestown-Yorktown Foundation.

FIRST JOBS: Delivering the morning Virginian-Pilot newspaper, shucking oysters and waiting tables at the Duck-In in Virginia Beach.

PERSONAL MOTTO: “Enjoy every sandwich.” — Warren Zevon. A reminder to stay present and appreciate the ordinary moments.

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Manufacturing 2025: IBAÑEZ, JESUS

Ibañez joined Lego Virginia in January to oversee hiring and of the Danish toymaker’s $1 billion Chesterfield County facility, bringing two decades of executive leadership in multiple countries. He previously served as vice president of operations at Lego’s plant in Monterrey, Mexico, and was executive operations director for tire company Bridgestone.

Before that, he worked for more than a decade at Bosch Group in Spain, India, Vietnam and Texas. A graduate of Spain’s University of Deusto MBA program, Ibañez earned degrees in engineering as well.

In May, Lego Group announced its plans to build a new 2 million-square-foot warehouse in Prince George County to complement its Chesterfield campus, which is set to begin production in 2027. The company opened a temporary packaging facility in Chesterfield in 2023.

FAVORITE TEAM: Spanish soccer team Atlético de Bilbao (Athletic Club, in Bilbao)

BOOK I’D RECOMMEND: “Grit,” by Angela Duckworth, which made me reflect on my childhood.

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Banking | Finance 2025: FAIRBANK, RICHARD

After earning an economics degree and an MBA from Stanford University, Fairbank landed at Virginia’s Signet Bank, where he co-created the business that became , the Fortune Global 500 credit card giant.

Fairbank became CEO in 1994 during Capital One’s initial public offering. In 2024, the bank reported $39.1 billion in revenue, a 6.3% increase over 2023. With $490.1 billion in assets at the end of last year, Capital One is the nation’s ninth largest bank.

In May, Capital One Financial completed its $35.3 billion acquisition of Discover Financial Services, finalizing the blockbuster merger of the credit card giants announced last year. Just before the deal closed, Capital One agreed to pay $425 million to settle with 360 Savings account customers who were suing the bank, claiming they were misled and prevented from benefiting from available higher earning interest rates.

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Banking | Finance 2025: ASBURY, JOHN C.

With more than 35 years of experience in , Asbury has led Atlantic Union since 2016. The Virginia Tech and William & Mary alumnus is also the 2024-25 chair of the American Bankers Association.

In April, Atlantic Union Bankshares, the holding company for , completed its $1.3 billion acquisition of Sandy Spring Bancorp, creating the largest regional banking franchise headquartered in the lower mid-Atlantic.

Before merger-related adjustments, the new combined Atlantic Union had $38.7 billion in total assets and $32.1 billion in total deposits. The bank has about 2,300 employees and had $24.585 billion in 2024 revenue.

Asbury serves on the Virginia Port Authority’s board of commissioners, chairs Virginia Learns and is a board member for the Greater Richmond Partnership.

FIRST JOB: Forklift operator and warehouse worker at Ferguson Enterprises in Radford

WHAT PEOPLE WOULD BE SURPRISED TO LEARN ABOUT ME: I am a private pilot.

BOOK I’D RECOMMEND: “The Let Them Theory: A Life-Changing Tool That Millions of People Can’t Stop Talking About,” by Mel Robbins

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2025 Living Legends: ASTON JR., G. ROBERT

Back in 1998, Aston and friends famously launched what would become Hampton Roads’ largest community bank from his garage. By April of the following year, TowneBank opened three offices with the support of 4,000 founding shareholders. Once the $203 million purchase of Old Point Financial is complete later  this year, TowneBank expects to have 75 branches in Virginia and parts of North Carolina — and it’s only one segment of Aston’s 60-year career.

In 1981, he was named president and CEO of Citizens Trust Co., after entering the banking industry in 1964. He went on to lead Commerce Bank and BB&T of Virginia before founding TowneBank, where he served as board chairman and CEO for 20 years. In 2018, Aston became executive chairman.

Aston has been deeply involved in his community, winning the Darden Award for Regional Leadership and a award from Volunteer Hampton Roads, among other awards. At Virginia Wesleyan University, Aston serves as a trustee and is a significant donor. In 2024, VWU and Chesapeake Bay Academy held a ribbon-cutting ceremony for a new academic hall named for Aston that was purchased by the university with Aston’s financial support.

 

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Manufacturing 2025: WILKIN JR., NEIL D.

Wilkin was named Optical Cable’s chairman and CEO in 2003, two years after joining the company as its chief financial officer.

Optical Cable, which manufactures fiber optic and copper communication cables and connectivity products, reported a profit of $18.2 million for fiscal 2024, down 18.3% from the previous year.

In July, Optical Cable announced it had entered into a collaboration agreement with Georgia-based optical fiber company Lightera to expand their product offerings in the data center and enterprise sectors. Lightera now holds 7.24% of Optical Cable’s outstanding shares, according to the announcement.

Previously, Wilkin was CFO of a brokerage and an attorney at McGuireWoods and Kirkland & Ellis. He also was a CPA at a predecessor to PricewaterhouseCoopers in Richmond.

Wilkin earned bachelor’s, law and MBA degrees from the University of Virginia, and he serves on Carilion Clinic’s board of directors.

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Real Estate 2025: HELMIG, TIMOTHY

After joining Monday Properties in 2005, Helmig has led the company to capital investments of more than $16 billion, expanded its portfolio to 6,500 units, and executed transactions totaling more than 36 million square feet.

Monday Properties has expanded its footprint into high-growth markets along the East Coast, from the greater New York City metro area into the Southeast. The company owns Nestlé’s U.S. headquarters in Arlington, as well as additional residential and commercial buildings.

Anthony Westreich, Helmig’s brother-in-law, founded Monday Properties and, in 2007, acquired a 2.5-million-square-foot Rosslyn portfolio two years after his father, the late Stanley Westreich, had sold the properties to Beacon Capital Partners for $960 million. In January, news broke that Monday lost the seven-building portfolio after defaulting on loans, and Beacon became the new owner.

Before joining Monday Properties, Helmig was a partner at Westfield Realty, co-founded by Stanley Westreich, where he oversaw approximately $5 billion in transactions. Helmig, a graduate of American University, is vice chair of the Rosslyn Business Improvement District board.

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Banking | Finance 2025: BENTLEY, JEFF

With more than three decades of experience in consumer and commercial lending, Bentley came to Northwest Federal Credit Union in 2014 from Florida’s Achieva Credit Union as senior vice president of lending. Three years later, the board promoted him to lead Virginia’s sixth largest credit union.

Northwest, which has some 250,000 members, reported about $4.07 billion in assets in 2024, down from $4.56 billion the previous year. In 2023, the institution funded 22,772 loans totaling $914.6 million.

Last year, Northwest and the Washington Commanders announced a multiyear naming-rights agreement for the football team’s stadium, now called Northwest Stadium. A year earlier, the two entities announced a partnership making Northwest the team’s official credit union.

A Georgia Southern University alumnus, Bentley has held leadership roles at several and banks and worked with the National Credit Union Administration to restore profitability to troubled credit unions. He serves as treasurer of The League of Credit Unions & Affiliates, which represents 378 credit unions across Alabama, Florida, Georgia, and Virginia, and chairs the Virginia Credit Union League board.

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Manufacturing 2025: KEFFER, CHRIS

Keffer took over leadership of U.S. operations in 2023 for German outdoor power equipment manufacturer Stihl. He has been leading the company’s transition toward battery-powered equipment, a $60 million-plus investment that included converting warehouse space to make room for battery tool .

Keffer joined the company in 2022 as vice president for sales and marketing and previously spent more than two decades with Stanley Black & Decker.

The U.S. division has more than 3,300 employees, about 2,700 of whom are in Virginia Beach. The United States is Stihl’s largest market and the U.S. division’s products are exported to 80 countries. In 2024, the company reported about $6.2 billion in global revenue, an increase of 1.1% over 2023.
In 2024, Keffer was named to the board of Winchester’s Trex Co. He also serves on the boards for the Outdoor Power Equipment Institute and the Food Bank of Southeastern Virginia and the Eastern Shore.

INTERESTING PLACE I’VE TRAVELED: The Exumas and Abacos, super cool island chains that are part of the Bahamas

MOST VALUED POSSESSION: Babe Ruth autographed baseball given to me by my grandmother

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