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FINANCE/INSURANCE


RAVI CHANDRA HEAD OF BRANCH MOBILE STRATEGY/ BRANCH CUSTOMER EXPERIENCE, BRANCH BANKING, WELLS FARGO & CO., CHARLOTTESVILLE


Chandra took on a new role for Wells Fargo aſter formerly serving as regional president of the company’s operations in Charlottesville, Roanoke, Blacksburg and parts of Central Virginia. Still based in Charlottesville, he now leads a national team of strategy consultants supporting the third-largest U.S. bank’s net- work of more than 5,100 branch locations. Chandra started at San Francisco-based Wells Fargo in 1990 as a teller


in San Jose, California. He worked his way up in positions in Oregon and Nevada before moving to Virginia. He holds a bachelor’s degree from California State University, Northridge. Chandra serves on the board of directors for Stop Child Abuse Now (SCAN) of Northern Virginia and recently finished a four-year term on the Virginia Bankers Association board.


HOBBY/PASSION: Music is my passion. I used to be a DJ in high school. I also have passion around being a #girldad to my two daughters.


NEW LIFE EXPERIENCE: We became owners of a new Peloton. I can’t get enough of it — sometimes two times a day.


MICHAEL DeVITO CEO, FREDDIE MAC, McLEAN


A veteran of Wells Fargo, DeVito took over in June as the head of Freddie Mac, the Federal Home Loan Mortgage Corp. The government-backed entity, which buys bundles of mortgages from banks and other lenders so that they have enough cash to make more mortgages, is the company with the highest revenues in Virginia. In 2020, Freddie Mac saw a 12% decrease in revenue compared with 2019, bringing in $66.2 billion. In the second quarter of 2021, the company reported $3.7 billion in net income, an improvement from the previous four quarters.


A graduate of Ithaca College, DeVito was with


Wells Fargo for 23 years, most recently serving as its executive vice president and head of home lend- ing. He succeeded former CEO David Brickman, who leſt Freddie Mac in January to lead a commer- cial brokerage. The U.S. Supreme Court ruled in June that the


LAWRENCE ‘LARRY’ DI RITA SENIOR VICE PRESIDENT, GREATER WASHINGTON MARKET PRESIDENT, BANK OF AMERICA, WASHINGTON, D.C.


In addition to being president of Bank of America’s Greater Washington market, Di Rita is the finan- cial giant’s strategy and public policy executive. The company has 213,000 employees, including 4,000 in Virginia.


Di Rita earned degrees from the U.S. Naval Academy and Johns


Hopkins University’s School of Advanced International Studies. He served as a Navy officer until 1994, leaving the military to join the conservative think tank Heritage Foundation and later progressing to the staffs of U.S. Sens. Phil Gramm and Kay Bailey Hutchison, as well as Secretary of Defense Donald Rumsfeld. Di Rita is secretary and treasurer of the Rumsfeld Foundation and is on the boards for the U.S. Navy Memorial and the Center for a New American Security, a think tank specializing in national security.


PERSON I ADMIRE: U.S. Navy Rear Adm. Sammy Perez. My college roommate who came from tiny Canutillo, Texas — pretty far from the nearest ocean — and rose to command of an aircraft carrier battle


group. A man of true personal and professional integrity.


WHAT I’VE LEARNED: The best way to persuade tends to be with data and a story, rather than just one or the other.


Federal Housing Finance Agency, started in the wake of the 2008 Great Recession to oversee Freddie Mac and Fannie Mae, was unconstitutional. The outcome meant that investors in the two companies lost their claim to $124 billion, and both firms’ stocks fell more than 30% aſter the ruling.


RIC EDELMAN FOUNDER, EDELMAN FINANCIAL ENGINES, FAIRFAX


This has been a momentous year for Edelman, who stepped down as chairman of his financial planning firm and also is finishing up his nearly 30-year radio show (while starting a new one this fall). He will continue as a strategic adviser and


member of the board of directors, as well as remain- ing the firm’s largest individual shareholder. He founded the firm with his wife, Jean, in 1986 with the goal of educating people about money and has become a guru of personal finance, having writ- ten several bestsellers, including “The Truth About Money,” also the title of his PBS show that aired 2011 to 2013.


80 VIRGINIA 500 In 2018, Edelman’s company merged with


Financial Engines, and the combined company manages $270 billion in assets for 1.3 million clients. It has 242 employees in Virginia and 1,500 worldwide. In recent months, he has advocated for investors to become more educated about cryptocurrency and to include it in their portfolios in spite of its volatility.


HOBBY/PASSION: My wife and I collect rare books on astronomy.


ONE THING I’D CHANGE ABOUT VIRGINIA: I’d let governors run for re-election.


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