StellarOne has appointed Michael D. Williams as director of wealth management for StellarOne Bank and, in conjunction, has established a wealth management office in Richmond, Virginia.
Williams joins the bank with over 20 years of wealth management experience, most recently serving as president of the wealth management division of Union First Market Bankshares.
"Michael brings a diverse and client-focused background to our company that is consistent with our culture and vision for this line of business. His sales and leadership abilities as demonstrated by the enormous success of the wealth management division of former First Market Bank in Richmond will, in our view, take what is already a successful wealth management line of business and leverage it for greater success and earnings contribution," says O. R. Barham, Jr., president and chief executive officer.
StellarOne’s wealth management division, with the addition of the new Richmond office, will have six offices including Fredericksburg, Culpeper, Staunton, Harrisonburg, and Christiansburg. The division has approximately USD655m in assets under management.
StellarOne is a traditional community bank, offering a range of business and consumer banking services, including trust and wealth management services. Its sole banking subsidiary, StellarOne Bank, operates 56 full-service financial centres, one loan production office and 66 ATMs.