G. William (“Billy”) Beale will step down early next year as CEO of Richmond-based Union Bankshares Corp., the parent company of Virginia’s largest community bank.
His successor on Jan. 2 will be John C. Asbury, the former president and CEO of privately-held First National Bank of Santa Fe in New Mexico. Asbury, 51, will join Union this October, becoming president and CEO of its banki, Union Bank & Trust .
In January, Asbury will become president and CEO of Union Bankshares in addition to heading the bank.
Beale, 66, will stay with Union, serving as executive vice chairman of the board and the bank until March 31. He will remain on the board after that, standing for re-election at the 2017 annual meeting.
