Please ensure Javascript is enabled for purposes of website accessibility

Banking | Finance 2025: WOODRIFF, JAFFRAY

Last year, the University of Virginia opened the School of Data Science building, which was funded with a portion of a $120 million gift made in 2019 from the Quantitative Foundation, the family foundation of Woodriff and his wife, Merrill, who are both alumni. It still marks the largest individual private grant in U.Va.’s history.

In December 2024, the university announced the Quantitative Foundation had committed another $20 million, this time ear- marked to expand the data science school’s research, scholarship and teaching capabilities, while “enhancing a budding entrepre- neurial ecosystem on Grounds.”

Before studying at U.Va., Woodriff became obsessed with baseball statistics. As he grew older, he decided to channel that fixation into something practical, landing on financial markets. In 2003, Woodriff and two partners co-founded QIM, a Charlottesville hedge fund that uses machine learning techniques to predict financial market shifts.

Woodriff also invests in startups through the Felton Group, his family office. In November 2024, the Felton Group led a $3 million seed round for RIIG Technology, a Charlottesville- based tech startup led by former U.S. Rep. Denver Riggleman.

Return to the full list of this category’s recipients.

Economic Development 2025: TUCKER, TELLY

Tucker spent six years as Danville’s director before leaving to serve the same role in Arlington County, where he helped land Boeing’s corporate headquarters relocation. But the pull of Southern Virginia is strong for Tucker, who left in 2022 to become president of Danville’s Institute for Advanced Learning and Research, a regional economic development and workforce development organization.

In fiscal 2024, over 6,000 middle school students participated in IALR’s Great Opportunities in Technology and Engineering Careers (GO TEC) program. The IALR is also home to the Navy’s Accelerated Training in Defense Manufacturing program, which trains workers for defense industry manufacturing jobs.

A former middle school teacher, Tucker is a James Madison University alum and accomplished pianist who once performed for President Bill Clinton and first lady Hillary Clinton. He serves on boards for the Southern Virginia Regional Alliance, which he chairs, as well as Mid-Atlantic Broadband Communities, Danville Industrial Development and Goodwill Industries of the Valleys.

Return to the full list of Economic Development recipients.

Economic Development 2025: EL KOUBI, JASON

Leader of the state’s arm since 2022, El Koubi oversees numerous initiatives designed to attract business expansions and relocations in the commonwealth.

El Koubi joined VEDP as executive vice president in 2017 under his predecessor, Stephen Moret. During his time at VEDP, El Koubi has played key roles in landing blockbuster deals like Amazon.com’s $2.5 billion HQ2 East Coast headquarters in Arlington County and Lego Group’s $1 billion manufacturing campus under construction in Chesterfield County.

A graduate of Louisiana State University and the London School of Economics and Political Science, El Koubi previously led the former Greater Lafayette Chamber of Commerce in Louisiana, and helped lead the Louisiana Economic Development organization to attract more than $28 billion in capital investment.

Return to the full list of Economic Development recipients.

Economic Development 2025: BELCHER, JONATHAN S.

Leader of the Virginia Coalfield Authority since 2006, Belcher has helped bring new jobs to Southwest Virginia through numerous economic development deals.

In April, VCEDA announced it closed a $1.3 million loan with Lawrence Brothers, a Tazewell County manufacturing company, for an expansion expected to create several dozen new jobs. Last year, VCEDA loaned $3.2 million to the Norton Industrial Development Authority to assist with construction of a new facility for Wrap Technologies at Norton’s Intersection Business and Industry Park anticipated to create 126 jobs.

Belcher also heads up the Virginia Coalfields Expressway Authority, a political subdivision that advocates for the proposed, long-delayed four-lane highway connecting Southwest Virginia with southern West Virginia.

Belcher has a law degree from William & Mary and a bachelor’s degree in real estate from Morehead State University.

WHAT I DO FOR FUN: Maintaining, restoring and driving classic cars

STREAMING SHOW I’VE ENJOYED: “Jay Leno’s Garage”

WHAT PEOPLE WOULD BE SURPRISED TO LEARN ABOUT ME: When I graduated from William & Mary Law School in 1993 at age 21, I was the youngest graduate anyone there could remember.

Return to the full list of Economic Development recipients.

Banking | Finance 2025: SCHAUFELD, FREDRICK D.

After graduating from Lehigh University in 1981, Schaufeld sold extended warranties to auto dealers while going through law school. When he learned his employer hadn’t actually taken out policies on all his clients, Schaufeld quit his classes and went into business for himself, creating National Electronics Warranty. In 2008, the company was acquired by Asurion.

In 2006, Schaufeld partnered with Cliff White and Tony Nader to form a company initially known as SWaN Investors. The venture capital firm’s investments have included Cava, Custom Ink and Kind Healthy Snacks.

Schaufeld is also a partner in Monumental Sports & Entertainment, which owns the Washington Capitals and the Washington Wizards. Additionally, Schaufeld is a partner in the long-delayed Hill Top House Hotel project in Harpers Ferry, West Virginia.

Schaufeld sits on numerous company boards, including DuraStat and Telos. He also serves on the Wolf Trap Foundation’s board and is an emeritus member of the Inova Health Foundation Board of Trustees.

Return to the full list of this category’s recipients.

Economic Development 2025: LANGSTON, JAY A.

Langston has led the Shenandoah Valley’s regional organization since 2018, after previously serving in multiple roles at the Virginia Economic Development Partnership for more than 13 years.

For fiscal year 2024, the Shenandoah Valley Partnership notes, the region saw $297 million in investment and 667 jobs created. Since 2019, the organization has helped create more than 3,300 jobs.

In February, Serioplast, an Italian plastic packaging manufacturer, announced plans to open an industrial plant in Shenandoah County, investing $25.7 million and generating 45 jobs. The Shenandoah Valley Partnership worked with the Virginia Economic Development Partnership and Shenandoah County to secure the project.

A graduate of the Georgia Institute of Technology, Langston holds master’s and doctoral degrees in public policy from Virginia Commonwealth University. He serves on several boards, including the Harrisonburg-Rockingham Chamber of Commerce and Goodwill Industries of the Valleys.

MOST VALUED POSSESSION: My dad’s tools

BOOK I’D RECOMMEND: “Shop Class as Soulcraft: An Inquiry into the Value of Work,” by Matthew B. Crawford

STREAMING SHOW I’D RECOMMEND: JustinGuitar. (I’m learning to play, and it’s a blast!)

Return to the full list of Economic Development recipients.

Banking | Finance 2025: HUGHES, THOMAS ‘T.J.’

Hughes became regional president for greater Washington and Maryland in October, succeeding Evelyn Lee, who took a role at Eagle Bancorp in Bethesda, Maryland.

A graduate of the University of Cincinnati, Hughes launched his career at Ohio-based Fifth Third Bank, holding roles in Ohio and Florida. In 2011, Hughes joined SunTrust Banks in Naples, Florida, as a commercial banking relationship manager.

Following the 2019 merger of BB&T and SunTrust that created Truist, Hughes became an executive vice president at Truist, overseeing specialty products and lending. He then served briefly as head of structured credit delivery and later as head of structured credit and wealth credit delivery before taking on his current regional leadership position.

In November 2024, the bank announced the Truist Cares for Western North Carolina effort, pledging $725 million over three years to support small business, housing and infrastructure recovery efforts in communities impacted by Hurricane Helene.

Truist reported $544 billion in total assets as of June 30. The bank has more than 1,900 branches across 17 states and Washington, D.C.

Return to the full list of this category’s recipients.

Economic Development 2025: HART III, H. GARRETT

Hart has more than four decades of experience in and currently serves as vice president for the Virginia Economic Developers Association’s board of directors. Under his leadership, Chesterfield has landed big deals such as the $1 billion Lego Group manufacturing facility under construction in the county’s Meadowville Technology Park. In 2024, his department assisted with and announced nine projects with a combined capital investment of $5.75 billion that are anticipated to generate 1,090 jobs.

A science lover, Hart was especially psyched about the December 2024 announcement that Commonwealth Fusion Systems plans to build the world’s first grid-scale commercial fusion power plant in Chesterfield, a $3.18 billion project expected to create 350 jobs. Hart always thought fusion sounded like “the solution” to the world’s energy needs but didn’t think he’d ever see it happen. “To have it come in my lifetime and to be part of it is just incredible,” Hart said.

A graduate of Virginia Tech, Hart is also an alum of Lead Virginia.

ON INTEGRATING AI: It is the next great business revolution. You will integrate it into your business or you will be left behind.

Return to the full list of Economic Development recipients.

Banking | Finance 2025: SHOCKLEY, CHRISTOPHER M. ‘CHRIS’

Following its August 2024 acquisition of Roanoke-based Member One Federal Credit Union, plans to fully integrate all Member One’s operations into VACU by spring 2026.

Shockley remains president and CEO of the combined credit union. Last year, VACU reported about $6.85 billion in assets and nearly 490,000 members, making it the third largest credit union based in Virginia.

Shockley earned his bachelor’s degree in economics from Radford University and his MBA from Liberty University. He serves as board secretary for Velera, a financial technology solutions provider, and on the board of Credit Union Service Company of Virginia. In the community, Shockley is board chair of the YMCA of Greater Richmond.

VACU has donated more than $336,500 to the Children’s Hospital of Richmond at VCU over the last decade. In June, the credit union donated 900 books for kids and teens about money management and personal to the hospital.

TRAITS I ADMIRE: I most admire those with a servant’s heart and a passion for volunteerism. I feel blessed to have worked with so many caring, compassionate people over the years as part of truly exceptional nonprofits and community organizations.

Return to the full list of this category’s recipients.

Banking | Finance 2025: SPROWLS, RYAN C.

In April, after 25 years with Wells Fargo Advisors, Sprowls founded 114 Private Wealth, which has 11 team members managing $2.5 billion in assets. The firm is affiliated with Wells Fargo Financial Network, an independent broker channel.

Ranked third among Virginia’s top wealth advisers, according to Florida’s SHOOK Research, Sprowls is also included on Barron’s 2025 list of the Top 1,200 U.S. Financial Advisors and Forbes’ 2025 list of the 250 Top Wealth Advisors in America. His group was ranked as the best team in the state by Forbes this year.

Sprowls earned an economics and degree at Missouri Southern State University, where he ran track. He also has a certified financial planner certification from the College for Financial Planning.

INTERESTING PLACES I’VE TRAVELED: Abu Dhabi and Dubai

FIRST JOB: I started a lawn mowing business at the age of 12 and built it up to over 30 lawns and had to bring in my best friend to help me.

PERSONAL MOTTO: “If you fail to plan, you are planning to fail.” — Ben Franklin

Return to the full list of this category’s recipients.