capital one online banking

Recently news related to Capital One Bank has been discussed on different channels that the company has restructured it upper management and Lynn Carter, the President of Capital One Bank Lynn Carter is leaving her job at the end of the year and the position is being eliminated in an executive reorganization. She will leave the post on 31^st December 2011 and will remain with the company until March in an advisory role.

The company representative declined to discuss the reasons for Carter’s departure. Lynn Carter will now spend the rest of 2011 helping to restructure Capitol One’s senior management team for its banking business. She will also help new president of commercial banking Michael Solcum and Jonathan Witter (president, Head of Retail Banking) to learn the ropes. Both new presidents will report to CEO Richard Fairbank after their promotions take effect on September 1, 2011.

The CEO mentioned that they will re-align Capital One around four key businesses. Which are financial services, retail and small business banking and commercial banking. As per Fairbank, Lynn Carter will leave Capital One and transition out of her role as President, Capital One Bank in December.

Lynn Carter has served as president since August 2007. Carter arrived from Bank of America while Capital One was undergoing a major expansion, acquiring banks and aggressively moving into new markets in the South and Northeast.  Capital one Bank has been digesting those acquisitions since 2005 when it first expanded from credit cards into banking, buying New Orleans-based Hibernia and its 293 locations for $5.35 billion.

Richard Fairbank appreciated Lynn in memorandum to staff by saying that when Lynn joined us, we were in the formative stages of our banking journey and had a significant agenda ahead of us and Under Lynn’s leadership, we have made significant progress.

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