John Neal
The No. 2 executive at Richmond’s biggest bank is hanging up his hat.
John Neal will retire from his role as president of downtown-based Union Bank & Trust on Dec. 31. Billy Beale, CEO of Union and its holding company, will assume the president title.
Neal, 66, began working for Union in January of 1990 in Fredericksburg after coming over from Dominion Bank. Union was a $200 million bank at the time and was looking to make a push in Fredericksburg, Beale said.
“John Neal was literally my first hire at Union Bank & Trust,” Beale said. “He was a rainmaker, a mover and shaker, in that market. He put in $65 million worth of loans in the first 16 months and really changed our profile in Fredericksburg.”
Union today has the largest market share of deposits of any bank operating in the Fredericksburg market.
His roles at the bank over the years included vice president, chief credit officer, chief operating officer, chief banking and officer and, beginning in 2004, president.
While the duties of president have changed as Union has evolved into a $7 billion statewide bank, Beale said Neal has helped in the bank’s growth in addition to his day-to-day overseeing of most of the bank’s income-producing segments.
“He’s been right there on every decision we’ve made about growing the bank,” Beale said.
Neal was not available for comment Wednesday.
“He turns 67 in March and he felt like it was time,” Beale said of Neal’s decision to retire.
Neal will stay on as a member of the bank’s board of directors and will assume an advisory role on a temporary basis with the company.
John Neal
The No. 2 executive at Richmond’s biggest bank is hanging up his hat.
John Neal will retire from his role as president of downtown-based Union Bank & Trust on Dec. 31. Billy Beale, CEO of Union and its holding company, will assume the president title.
Neal, 66, began working for Union in January of 1990 in Fredericksburg after coming over from Dominion Bank. Union was a $200 million bank at the time and was looking to make a push in Fredericksburg, Beale said.
“John Neal was literally my first hire at Union Bank & Trust,” Beale said. “He was a rainmaker, a mover and shaker, in that market. He put in $65 million worth of loans in the first 16 months and really changed our profile in Fredericksburg.”
Union today has the largest market share of deposits of any bank operating in the Fredericksburg market.
His roles at the bank over the years included vice president, chief credit officer, chief operating officer, chief banking and officer and, beginning in 2004, president.
While the duties of president have changed as Union has evolved into a $7 billion statewide bank, Beale said Neal has helped in the bank’s growth in addition to his day-to-day overseeing of most of the bank’s income-producing segments.
“He’s been right there on every decision we’ve made about growing the bank,” Beale said.
Neal was not available for comment Wednesday.
“He turns 67 in March and he felt like it was time,” Beale said of Neal’s decision to retire.
Neal will stay on as a member of the bank’s board of directors and will assume an advisory role on a temporary basis with the company.