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Economic Development 2025: WAKEFIELD, JENNIFER

Before assuming her current role leading the in 2021, Wakefield twice served as interim president and CEO for the regional organization representing and the counties of Chesterfield, Hanover and Henrico. She has also been its chief operating officer and senior vice president of marketing.

Wakefield previously served as Orlando Economic Development Commission’s (now Orlando Economic Partnership) marketing and communications vice president for 11 years.

In March, the Greater Richmond Partnership celebrated the launch of its 5-year strategic plan. It’s built on four pillars: advancing business recruitment and cluster development; delivering research and market intelligence; elevating regional competitiveness; and shaping perception of the region.

“There just isn’t much of a perception outside of Richmond of Richmond,” Wakefield said recently on a podcast. Too many cities are named Richmond, she noted. Another problem is that Virginia doesn’t spend as much on marketing itself as other states. “So,” she said, “we have some work to do.”

A self-proclaimed “Star Wars” nerd, Wakefield is an International Economic Development Council board member and sits on several regional boards.

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Banking | Finance 2025: FRANTZ, MARK A.

Co-founded by Frantz in 2009, Blue Delta is a venture capital firm that backs growth-stage companies providing services to the federal government.

In September 2024, Arlington-based ITC Federal, an IT services provider for federal government agencies focused on law enforcement and national security, announced it had received an investment from Blue Delta to help it pursue acquisitions and expand. News reports placed the investment at $25 million.

In addition to his work at Blue Delta, Frantz sits on the board of ASGN, the Henrico County Fortune 1000 IT and professional services provider.

Previously, Frantz was a partner at RedShift Ventures and a principal with Carlyle Group, the private equity firm where Gov. Glenn Youngkin served as co-CEO. Early in his career, Frantz served as associate director of the White House’s Office of Intergovernmental Affairs under President George H.W. Bush. He also worked as economic and technology policy adviser to former Pennsylvania Gov. Tom Ridge.

Frantz earned his law degree and an MBA from the University of Pittsburgh.

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Banking | Finance 2025: GRIMM, ANDREW ‘ANDY’

When Grimm assumed leadership of Apple Federal Credit Union in 2017, it had 190,000 members and nearly $2.4 billion in assets. Today, it has nearly 270,000 members, 25 branches and $5.3 billion in assets.

A sliver of that growth stems from a merger with Fairfax’s NextMark Credit Union, which was completed in January. Prior to the deal, NextMark had $519 million in assets and about 17,000 members. “These are exciting times,” Grimm wrote on his LinkedIn page when the merger was announced.

Founded in 1956 as a credit union for educators, Apple welcomes as members anyone who lives, works, worships, volunteers or attends school in Fairfax, Frederick and Prince William counties or the cities of Fairfax, Manassas, Manassas Park or Winchester.

Grimm has worked at Apple FCU since 1995, when he came aboard as a strategic planning manager. By 1999, he had been named vice president of . In 2004, Grimm was named Apple’s executive vice president and chief operating officer.

In addition to a marketing degree from Fordham University, Grimm has a master’s degree in business from Johns Hopkins University.

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Banking | Finance 2025: RYAN, TOM

When Ryan arrived at Langley Federal in 2012, the credit union had about $1.7 billion in assets and 165,500 members. It now boasts $5.5 billion in assets and 395,000 members.

Earlier this year, Ryan announced his plans to retire at the end of 2025. (A successor had not been named as of press time for this year’s .) During his tenure, Ryan played a pivotal role in the creation of the Langley for Families Foundation, a nonprofit launched in 2014 that has donated more than $7 million to local charities.

Before joining Langley Federal, Ryan spent 26 years at Massachusetts’ Digital Federal Credit Union, where he was executive vice president and chief operating officer.

In 2021, Ryan’s efforts prompted the Credit Union Executives Society to name him its outstanding chief executive of the year.

He has a degree in business management from Fitchburg State University in Massachusetts..

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Banking | Finance 2025: STACK, JEAN

Before joining Baird, Stack worked for more than two decades in the government services, aerospace and defense sector at California-based investment bank Houlihan Lokey. At Baird, Stack advises executives on mergers and acquisitions, raising capital and other corporate strategies.

Earlier this year, Baird served as the exclusive financial adviser for Kudu Dynamics, a Chantilly tech company that builds AI-powered cybersecurity tools for defense customers, on its $300 million acquisition by Reston-based federal contractor Leidos.

Baird also provided support for a $1.47 billion capital raise by AeroVironment, an Arlington County defense contractor, announced in July. “Tremendous momentum in defense tech!” Stack wrote on LinkedIn.

Another highlight of the past 12 months, Stack kicked off Baird’s 7th Annual Defense & Government Conference in November 2024. The event brought in more than 1,200 attendees.

A Duke University graduate, Stack also studied at the London School of Economics and Political Science. She serves on the boards of Inova Health and the Northern Virginia Technology Council.

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Economic Development 2025: GRDEN, NANCY

A longtime regional and maritime leader, Grden was key in the 2023 merger of Reinvent Hampton Roads and the Hampton Roads Business Roundtable. That resulted in the creation of the Hampton Roads Executive Roundtable, a support organization for GO Virginia Region 5, the regional arm of the statewide economic development initiative.

Before leading the roundtable, Grden was director of the Hampton Roads Maritime Collaborative for Growth & Innovation and of Old Dominion University’s Strome Entrepreneurial Center.

Most recently, Grden has been collaborating on a pilot regional talent marketing initiative with the Hampton Roads Chamber and the Virginia Economic Development Partnership. She’s also spearheaded a regional initiative to advocate against proposed federal spending cuts in Hampton Roads.

Grden has a degree in economics from Bucknell University, a master of regional planning from University of North Carolina at Chapel Hill and an MBA from the University of South Carolina.

FAVORITE TEAM: With hometown Pittsburgh, Steelers, of course! However, there are others since we need a “portfolio of teams” to avoid disappointment.

PERSONAL MOTTO: “Never burn a bridge” — I have benefited from many connections and colleagues along the way.

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Banking | Finance 2025: SCHENCK, JAMES

Over the course of his military career, Schenck flew Black Hawk helicopters in Korea and trained others as a night vision goggle instructor pilot. He also worked on the Army staff in the Office of the Deputy Chief of Staff for Operations and Plans, a post with responsibilities for overseeing the flying hour program, which makes sure military aviators receive sufficient training.

“You have an impact across the entire force, making sure every aviator had enough flying hour dollars, maintenance dollars, to train and be ready to accomplish their mission on behalf of the nation,” Schenck said on the podcast “Aerospace Advantage” in 2024.

Schenck, who earned an MBA from Harvard Business School in 1996, joined the PenFed executive leadership team in 2001 and was named its top leader in 2014. Under his leadership, PenFed’s assets have nearly doubled, from $17.8 billion to $31 billion, and membership has more than doubled, growing from 1.3 million to 2.8 million members.

In July, PenFed held a ribbon cutting for a new branch in Puerto Rico. The credit union has five other financial centers in the U.S. territory.

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Banking | Finance 2025: SJOLUND, MARTIN

In June, Sjolund began his tenure leading PRA Group, a global business that acquires and collects on nonperforming loans. Earlier this year, a PRA spokesperson noted that Sjolund planned to split his time between London and PRA’s Norfolk headquarters. He succeeds Vikram Atal, who retired after serving as PRA’s president and CEO since 2023.

Sjolund had previously served since 2018 as president of PRA Group Europe, where he oversaw nearly $3 billion in portfolio investment. In 2023, his role expanded to include responsibility for PRA’s interests in Canada and Australia.

He joined the company in 2014 after PRA Group acquired Aktiv Kapital, where Sjolund was director of group strategy and corporate development. From 2015 to 2018, he was PRA Group’s chief operating officer for Europe.

With more than 3,000 employees worldwide, PRA Group reported $1.1 billion in 2024 revenue, with annual portfolio purchases of $432.7 million and cash collections of $468.1 million.

Sjolund has a degree in international business from Georgetown University and an MBA from the University of Chicago.

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Economic Development 2025: COONS, JULIE

Coons has led the Northern Virginia Chamber of Commerce since 2018, prioritizing efforts to support the region’s economic health and growth.

Celebrating its 100th anniversary this year, the chamber originated in 1925 as a Fairfax County- focused business advocacy organization. Today, it represents about 400 member businesses across a region that represents nearly 42% of the state’s gross domestic product. And it has a powerful influence on policy across greater Washington.

In June, in collaboration with Accenture, NVC launched its NOVA Roadmap, a multiyear proposal for reinventing the region’s economy in the face of federal layoffs and spending cuts. It’s a problem the chamber was already addressing in partnership with Northern Virginia Community College through the NOVAnext initiative, which assists displaced federal workers and contractors in transitioning to new careers. The chamber’s road map plan also calls for investing in artificial intelligence, quantum computing and more affordable housing.

Coons previously was chief operating officer of the Council of Better Business Bureaus in Arlington and president and CEO of the Electronic Retailing Association and Maryland Tech Council. She graduated from the University of the Pacific.

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Banking | Finance 2025: MONTGOMERY, JOSEPH W. ‘JOE’

Montgomery went to work at an investment firm in December 1975 — meaning he’s enjoying his 50th year in an industry for which he is ranked as Virginia’s top adviser on Forbes’ 2025 Best-in-State Wealth Advisors list, with $1.6 billion in assets under management by his team.

He credits the power of relationships and his alma mater, William & Mary, for his career success and staying power. “The trajectory of my life was determined, really, by lining up where I went to school,” Montgomery says.

A former captain of William & Mary’s football team, Montgomery was invited to the Philadelphia Eagles’ training camp after graduating with a degree in business administration but did not make the NFL team’s final cut.

Instead, Montgomery went to work in Lynchburg for an investment advisory firm managed by a William & Mary alum. After a few years, Montgomery was sent to open a new branch in Williamsburg that became The Optimal Service Group of Wells Fargo Advisors. Today, it has 13 associates. In 2019, Montgomery was inducted into Barron’s Advisor Hall of Fame.

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