Union Bankshares CEO William Beale to step down
Mr. Beale has served as President and CEO of Union Bankshares Corporation (and its predecessor companies) since 1991. He has also served on the Board of Directors since that time.
Mr. Beale started his banking career in Texas after receiving his Bachelor of Science degree in Business Administration from The Citadel.
Prior to relocating to Virginia, he graduated from the Southwestern Graduate School of Banking at Southern Methodist University.
Mr. Beale currently serves as President of The Society of the Cincinnati in the State of Virginia and as a member of the General Society’s Standing Committee. He also is a Director of the Virginia Chamber of Commerce and The Greater Richmond Partnership.
Previously, Mr. Beale served on the boards of the Virginia Bankers Association, the VBA Benefits Corporation, Mary Washington Health Systems, the Fredericksburg Regional Chamber of Commerce, the Rappahannock United Way, the Caroline Chamber of Commerce, and the Caroline County IDA.
Mr. Beale will continue to work in an executive capacity as Executive Vice Chairman of the Board for Union Bankshares Corporation and Union Bank & Trust until March 31, 2017.
He will remain on the Board of Directors of Union Bankshares Corporation and stand for reelection to the Board at the 2017 Annual Meeting.
Mr. Beale will be succeeded by John C. Asbury who will become President of Union Bankshares Corporation and President and CEO of Union Bank & Trust effective October 1, 2016.
Mr. Asbury is a career banker with more than 29 years of experience in Commercial and Corporate banking. He has achieved increasing levels of leadership and responsibility during his banking career.
Most recently, Mr. Asbury was President and CEO of privately-held First National Bank of Santa Fe, a multi-state bank with locations primarily in the Southwest I-25 growth corridor between Denver, CO and Albuquerque, NM.
Prior to that, he was Senior Executive Vice President and Head of the Business Services Group at Regions Financial Corporation, one of the nation’s largest full-service banks.
Previously, he spent 17 years at Bank of America, before leaving as the Pacific Northwest Region Executive for Business Banking in Seattle, WA. He has broad experience in commercial banking with prior positions responsible for multiple services and regions.
Mr. Asbury began his banking career in the management training program at Wachovia Bank & Trust in Winston-Salem, NC after graduating from Virginia Tech. He also holds an MBA from The College of William & Mary and is a native of Virginia, born in Radford.