Virginia business briefs for Feb. 1

By: Times-Dispatch Staff | Times-Dispatch
Published: February 01, 2012

First Capital Bank parent sets Feb. 10 for offering

First Capital Bancorp Inc., parent company of First Capital Bank, said Tuesday that Feb. 10 will be the record date for its previously disclosed proposed rights offering of common stock.

The Henrico County-based bank plans to raise $17.8 million through the offering.

All shareholders of the company's common stock will receive, at no charge, one subscription right for each share of common stock held as of that date.

Each subscription right will entitle the holder of the right to buy three units for each share of common stock held. Each unit consists of one share of common stock and a transferable warrant to purchase one-half share of common stock.

Apex Systems posts 29% rise in revenue to $705M

Apex Systems Inc., which staffs and recruits for positions in information technology, finance, accounting and engineering, reported revenue of $705 million in 2011, a 29 percent increase from 2010.

The Henrico County-based company said its 2011 revenue was three times higher than the staffing industry average. Apex is the sixth-largest IT staffing firm in the U.S. and 18th-largest globally, based on revenue, the company said according to the Staffing Industry Analysts.

Since Apex was founded in 1995, it has had a 50 percent compounded annual growth rate.

The company has offices in 48 markets in 27 states and the District of Columbia.

Financeware adopts Wealthcare name

Financeware Inc., parent company of Wealthcare Capital Management, said it has changed its name to Wealthcare Capital Management Inc.

The Richmond-based company, a wealth-management advisory firm for individual investors, financial advisers and institutions, said it made the name change to better reflect the expansion of the firm's financial advisory and wealth-management services.

Founded nine years ago, the firm's business has experienced tenfold growth since 2007 and nearly a fivefold growth since 2009, the company said.

Capital One names Raskind to new seat

Capital One Financial Corp. said Tuesday that Peter E. Raskind has been appointed to the company's board.

Raskind, former chairman, president and CEO of National City Corp., will fill a new board seat and will join the class of directors whose nominations will be submitted for election by stockholders in May.

Raskind is currently a consultant to banks and private-equity bank investors. He has more than 30 years of commercial banking experience.

From staff and wire reports