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Capital One Financial Corporation (COF) is a diversified financial services holding company that operates through both banking and non-banking subsidiaries. The company provides a wide array of financial products and services to consumers, small businesses, and commercial clients via digital channels, branch locations, cafés, and other distribution channels . COF's operations are primarily organized into three major business segments: Credit Card, Consumer Banking, and Commercial Banking, each contributing significantly to the company's revenue through various lending and financial services .
- Credit Card - Engages in domestic consumer and small business card lending, as well as international card businesses in the United Kingdom and Canada, significantly contributing to the company's revenue.
- Consumer Banking - Involves deposit gathering and lending activities for consumers and small businesses, along with national auto lending.
- Commercial Banking - Provides lending, deposit gathering, capital markets, and treasury management services to commercial real estate and industrial customers.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Richard D. Fairbank ExecutiveBoard | Chairman and CEO | N/A | Richard D. Fairbank is the Chairman and CEO of COF. He has been in this role since the company's founding. | |
Andrew M. Young Executive | Chief Financial Officer | N/A | Andrew M. Young joined COF in June 1996 and has been CFO since March 2021. | |
Celia S. Karam Executive | President of Retail Bank | N/A | Celia S. Karam joined COF in July 2006 and became President of Retail Bank in August 2022. | |
Kaitlin Haggerty Executive | Chief Human Resources Officer | N/A | Kaitlin Haggerty joined COF in October 2017 and became CHRO in February 2022. | |
Lia N. Dean Executive | President of Banking and Premium Products | N/A | Lia N. Dean joined COF in April 2014 and became President of Banking and Premium Products in July 2022. | |
Matthew W. Cooper Executive | General Counsel and Corporate Secretary | N/A | Matthew W. Cooper joined COF in January 2009 and has held various legal roles, currently serving as General Counsel and Corporate Secretary. | |
Michael Zamsky Executive | Chief Credit and Financial Risk Officer | N/A | Michael Zamsky has been with COF for over 27 years and became Chief Credit and Financial Risk Officer in September 2023. | |
Sheldon “Trip” Hall Executive | Senior Advisor to the CEO | N/A | Sheldon “Trip” Hall joined COF in June 1997 and has been a Senior Advisor to the CEO since September 2023. | |
Ann Fritz Hackett Board | Lead Independent Director | Member of Tapestry Networks’ Lead Director Network; Board Member at Fortune Brands Innovations, Inc. and MasterBrand, Inc. | Ann Fritz Hackett has been a director at COF since 2004 and is involved in various external roles, including board memberships. | |
Bradford H. Warner Board | Director | N/A | Bradford H. Warner has been a director at COF since 2008 and has extensive experience in banking leadership roles. | |
C.P.A.J. (Eli) Leenaars Board | Director | Board Member at Kotak Mahindra Bank Limited; Member of the Executive Committee of the Trilateral Commission | Eli Leenaars has been a director at COF since 2019 and holds significant roles outside of COF. | |
Christine Detrick Board | Director | Chairman of the Board at Hartford Mutual Funds and Altus Power; Board Member at CRA International, Inc. | Christine Detrick has been a director at COF since 2021 and holds several board positions outside of COF. | |
Craig Williams Board | Director | President, Jordan Brand, Nike, Inc. | Craig Williams has been a director at COF since 2021 and is the President of Jordan Brand at Nike, Inc. | |
Eileen Serra Board | Director | Director and Member of the Compensation Committee at Gartner, Inc. | Eileen Serra has been a director at COF since 2020 and has extensive experience in the financial services industry. | |
Franƈois Locoh-Donou Board | Director | President, CEO, and Director of F5 Networks, Inc.; Co-founder and Chairman of Cajou Espoir | Franƈois Locoh-Donou has been a director at COF since 2019 and is involved in various external roles, including leadership at F5 Networks and Cajou Espoir. | |
Ime Archibong Board | Director | Vice President, Product Management and Head of Product at Messenger (Meta Platforms, Inc.) | Ime Archibong has been a director at COF since 2021 and holds a leadership role at Meta Platforms, Inc. | |
Mayo A. Shattuck III Board | Director | Chairman of the Board at Johns Hopkins Medicine and Johns Hopkins Health System; Board Member at Gap, Inc. and Hut 8 Corp. | Mayo A. Shattuck III has been a director at COF since 2003 and holds several leadership roles outside of COF. | |
Peter E. Raskind Board | Director | N/A | Peter E. Raskind has been a director at COF since 2012 and serves as the Chair of the Risk Committee. | |
Peter Thomas Killalea Board | Director | Board Member at Akamai Technologies, Inc., MongoDB, Inc., and Satellogic, Inc. | Peter Thomas Killalea has been a director at COF since 2016 and holds several board positions outside of COF. |
- Given the significant uncertainties around regulatory changes like the endgame rule, macroeconomic factors, and the pending Discover acquisition, how do you plan to manage your capital levels and share buyback program to balance shareholder returns with prudent capital management?
- With the anticipated significant impact on revenue from the potential implementation of the late fee rule, what specific strategies are you considering to mitigate this revenue loss, and how might this affect your customer relationships and overall business model?
- As you continue to invest heavily in the Venture X product to win at the top of the market, can you provide more detail on how you are measuring the return on investment for these initiatives, and what safeguards are in place to ensure long-term profitability given the competitive landscape?
- In light of the delayed charge-offs from the pandemic period and the potential pockets of consumer pressure you've mentioned, how are you preparing for a potential uptick in credit losses, and what impact do you anticipate on your provisioning and reserve levels moving forward?
- Given that recent spend growth is largely driven by new accounts while spend per customer has remained flat, how sustainable is this growth strategy, and what are the implications for customer acquisition costs and long-term profitability if consumer caution persists?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
The company competes with international, national, regional and local issuers of credit cards, including this brand, based on the outstanding balance of credit card loans as of December 31, 2023. | |
The company competes with international, national, regional and local issuers of credit cards, including this brand, based on the outstanding balance of credit card loans as of December 31, 2023. | |
The company competes with this brand in the credit card business, focusing on price, credit limit, reward programs, customer experience, and other product features. | |
The company competes with this brand in the credit card business, focusing on price, credit limit, reward programs, customer experience, and other product features. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Discover Financial Services | 2025 | Capital One’s acquisition of Discover Financial Services involves a multi-step merger where Discover first merges with Vega Merger Sub and then with Capital One, converting each Discover common share into 1.0192 Capital One shares and converting preferred stock into new Capital One preferred stock; the transaction, which received overwhelming stockholder approval and regulatory clearances (including from the Delaware State Bank Commissioner) and incurred $234 million in integration expenses in 2024, is expected to close in early 2025. |
Capital One Bank (USA), National Association (COBNA) | 2022 | In 2022, Capital One Bank (USA), National Association (COBNA) was merged into Capital One, National Association (CONA), with the merger completed on October 1, 2022, making CONA the surviving entity as part of Capital One Financial Corporation's consolidation strategy. |
Recent developments and announcements about COF.
Earnings
New Earnings (Q4 2024)
·Jan 24, 2025, 12:13 AMView full earnings summary →Capital One’s Q4 shows stable credit trends: card delinquencies slightly lower YoY, auto delinquencies below pre-pandemic for 2 quarters, and a 700 bps efficiency ratio improvement since 2013. Management sees margin headwinds but remains bullish on auto.
8-K Filings
8-K Filing
·Feb 19, 2025, 9:34 PMFinancial ExhibitsRegulation FD DisclosureView full 8-K filing →Capital One’s 8‑K filed Jan 21, 2025, reports December 2024 metrics. Domestic Card loans averaged about $153.5B with net charge‑offs of $803M at a 6.28% rate, while Consumer Auto loans ended at roughly $76.8B with $162M in net charge‑offs.