Union Bank president steps down

John Stallings

John Stallings

A cancer diagnosis is forcing a veteran local banker to relinquish his high-ranking post at Richmond’s biggest bank.

Union Bank & Trust on Thursday announced that recently installed president John Stallings Jr. is stepping out of that spot as he battles cholangiocarcinoma, a rare disease also known as bile duct cancer.

“As I continue to respond well to the excellent medical care from my Massey Cancer Center team, it is best that I now step back from my role as president of the bank to strike a balance between my work duties and my health,” Stalling said in a statement.

The 51-year-old will remain with the bank as senior executive vice president. In that role he’ll help with business development and talent acquisition.

Union said it will begin a national search for Stalling’s replacement.

Stallings joined Union as president last September, leaving his job as statewide head for SunTrust, where he had spent nearly three decades.

He was Union’s first standalone president since John Neal retired in 2015. Since then it had been held as a dual role along with the CEO post.

Adding Stallings allowed CEO John Asbury to focus on more strategic tasks, such as corporate development, M&A and investor relations, as the bank was readying itself to cross the $10 billion asset threshold with its acquisition of Xenith Bank and further position itself as a statewide and broader regional powerhouse.

John Stallings

John Stallings

A cancer diagnosis is forcing a veteran local banker to relinquish his high-ranking post at Richmond’s biggest bank.

Union Bank & Trust on Thursday announced that recently installed president John Stallings Jr. is stepping out of that spot as he battles cholangiocarcinoma, a rare disease also known as bile duct cancer.

“As I continue to respond well to the excellent medical care from my Massey Cancer Center team, it is best that I now step back from my role as president of the bank to strike a balance between my work duties and my health,” Stalling said in a statement.

The 51-year-old will remain with the bank as senior executive vice president. In that role he’ll help with business development and talent acquisition.

Union said it will begin a national search for Stalling’s replacement.

Stallings joined Union as president last September, leaving his job as statewide head for SunTrust, where he had spent nearly three decades.

He was Union’s first standalone president since John Neal retired in 2015. Since then it had been held as a dual role along with the CEO post.

Adding Stallings allowed CEO John Asbury to focus on more strategic tasks, such as corporate development, M&A and investor relations, as the bank was readying itself to cross the $10 billion asset threshold with its acquisition of Xenith Bank and further position itself as a statewide and broader regional powerhouse.

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