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Union Bank & Trust acquiring investment adviser Old Dominion Capital Management

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Union Bank & Trust acquiring investment adviser Old Dominion Capital Management

Richmond, Va.-based UnionBank & Trust said April 5 that it agreed to acquire , aCharlottesville, Va.-based registered investment adviser with about $300 millionin assets under management.

Old Dominion Capital Management will operate as a stand-alonesubsidiary of Union Bank & Trust. The current principals and current employeeswill stay with the firm, which will continue to operate from its current officesin Charlottesville and Alexandria. The acquisition is scheduled to close duringthe second quarter, subject to certain closing conditions and approvals.

Union BanksharesCorp. is the parent company of Union Bank & Trust.