Peter Raskind
Director at COF
Board
About Peter E. Raskind
Independent director of Capital One Financial Corporation since 2012; age 68. Former Chairman, President, and CEO of National City Corporation, bringing 45+ years of end‑to‑end banking experience spanning corporate and retail banking, risk management, ALM, operations, technology, and acquisition integration—well aligned with Capital One’s risk and governance needs. Education not disclosed in the proxy. He is designated independent under Capital One’s Director Independence Standards and NYSE rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| National City Corporation | Chairman, President & CEO | Until Dec 2008 (through merger with PNC) | Led large U.S. bank; deep experience across credit, risk, ALM, M&A integration |
| JMB Consulting, LLC | Owner/Consultant to banks and equity investors | 2009–2017 | Strategic/risk advisory to banking investors and institutions |
| Cleveland Metropolitan School District | Interim CEO | 2011 | Public sector turnaround leadership experience |
| Cleveland–Cuyahoga County Port Authority | Interim CEO | 2010 | Oversight, operations and governance in public infrastructure context |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| United Community Banks, Inc. | Director (prior) | Not disclosed | Prior public company board service |
| Visa U.S.A.; Visa International | Director (prior) | Not disclosed | Payments industry board experience |
| Consumer Bankers Association | Board member (prior) | Not disclosed | Industry advocacy/standards engagement |
| Financial Services Roundtable | Member (prior) | Not disclosed | Industry policy engagement |
| NACHA (The Clearing House) | Executive Committee (prior) | Not disclosed | Payments governance/executive committee experience |
| Current public company boards | None | — | No current external public boards (reduces interlock risk) |
Board Governance
- Committee assignments: Governance & Nominating Committee; Risk Committee. No chair roles disclosed for Mr. Raskind .
- Independence: Board determined he is independent (all nominees except CEO) under Capital One’s Independence Standards/NYSE rules .
- Attendance/engagement: In 2024 the Board met 14 times; committees met 32 times (Risk 7, Governance & Nominating 8). Each current director attended at least 75% of their Board/committee meetings (exception noted for another director only), implying Mr. Raskind met the standard .
- Lead Independent Director: Role held by Ann Hackett (not Raskind) .
- Skills relevance: His background maps to banking and financial services, risk management/compliance, and public company governance in the Board’s skills matrix context .
Fixed Compensation (Director Pay Structure and 2024 Actuals)
| Component | Detail |
|---|---|
| Board annual cash retainer | $100,000 per non‑management director |
| Committee retainers | Audit/Risk member $30,000; Comp/Gov‑Nom member $15,000; Chairs: Audit/Risk $70,000; Comp/Gov‑Nom $45,000; Lead Independent Director $100,000 |
| 2024 RSU grant | 1,658 RSUs on May 2, 2024; grant date fair value $235,121 ($141.81/share); vests one year from grant; share delivery deferred until service ends |
| Deferred Compensation | Directors may defer cash and, if ownership requirement met, RSUs under the NEDDCP |
| Other benefits | Up to $10,000 director‑directed charitable contribution; plus participation in a broad‑based $5,000 program; event tickets/reimbursements as applicable |
2024 compensation (paid in 2024):
| Metric | Amount |
|---|---|
| Fees earned/paid in cash | $165,000 |
| Stock awards (grant date fair value) | $235,121 |
| All other compensation | $18,100 |
| Total | $418,221 |
Performance Compensation
| Item | Detail |
|---|---|
| Equity vehicle | Annual time‑based RSUs for directors; vest after one year with delivery deferred until service ends |
| Performance metrics tied to director equity | None disclosed for non‑management director RSUs (time‑based vesting) |
Other Directorships & Interlocks
| Category | Finding |
|---|---|
| Current public boards | None (minimizes interlocks) |
| Prior public boards | United Community Banks; Visa U.S.A.; Visa International (payments and regional bank exposure) |
| Shared directorships with competitors/suppliers/customers | None disclosed |
Expertise & Qualifications
- Core expertise: Full‑cycle banking leadership (corporate/retail), risk management, ALM, strategy, technology/operations, M&A integration .
- Governance fit: Service on Risk and Governance & Nominating aligns with his risk and broad governance background .
- Public company/regulated industry experience supports oversight of a systemically important, technology‑intensive bank .
Equity Ownership (Skin‑in‑the‑game)
| Item | Value/Status |
|---|---|
| Beneficially owned common shares | 2,000 shares |
| Stock that may be acquired within 60 days (director deferred RSUs) | 29,819 (deferred RSUs) |
| Total beneficial ownership (common + within 60 days) | 31,819 |
| Percent of class | <1% |
| Outstanding RSUs (as of 12/31/2024) | 29,819 |
| RSUs deferred (delivery post‑service) | 29,819 |
| Shares pledged as collateral | Not disclosed; no pledging reported |
| Director stock ownership guideline | ≥5x annual cash retainer; all directors in compliance |
Governance Assessment
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Strengths for investor confidence
- Long tenure (since 2012) with deep, hands‑on risk and banking leadership; service on Risk and Governance & Nominating places him at the center of risk appetite, enterprise risk oversight, board composition/refreshment, and shareholder engagement oversight .
- Clear independence and no current external public boards reduce interlock/conflict risk; ownership aligned via guideline compliance and meaningful deferred RSU balance .
- Attendance meets policy; Board and relevant committees were active in 2024 (Board 14; Risk 7; Governance & Nominating 8), indicating robust engagement cadence .
-
Potential risks/RED FLAGS
- None specifically disclosed for Mr. Raskind in related‑party transactions; disclosed related person items did not involve him .
- No low attendance or pay anomalies flagged for him; his compensation aligns with the standard director program .
-
Implications
- Mr. Raskind’s profile supports board effectiveness in core banking risk oversight during a period that includes a large pending acquisition (Discover). His lack of external public commitments and independence status further support investor confidence in objective oversight .