Michael Schwartz

Michael Schwartz is the editor of Richmond BizSense, and covers banking, lawsuits, finance, M&A and golf. He can be reached at [email protected] or 804-855-1037.

A second act on First Street

A parting of ways at a downtown wealth management firm wasn’t as amicable as the former partner suggested.

Genworth’s $290 million deal

Genworth Financial cut a deal to sell its Medicare supplement business to healthcare giant Aetna for $290 million.

A stalking horse emerges

A Richmond real estate investment fund wants to buy the last remaining asset of a bankrupt local biotech firm.

Apple REIT buys another local hotel

Despite the troublesome press one of its sister funds has received lately, Apple REIT Ten is still gobbling up hotels.

Trading Day: Inside the SEC filings for 6.9.11

Several insiders at a local bank went on a buying spree this week. And the top executives of a Glen Allen bank that recently went public signed new employment contracts, each for a six-figure salary.

The R&D Dept.: Local patents for 6.8.11

Some promising patents this week including an invention for restraining someone, a painter-friendly ladder and a flame resistant garment. Plus, another patent for Capital One and a few for Phillip Morris.

On to Richmond

One of the biggest banks in the state has been quietly increasing its presence in Richmond and has plans for taking market share.

Xenith Bank to buy Paragon branch

Xenith will close Paragon’s Henrico office and is still working out which staff will come onboard.