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Capital One Names Michael Azevedo to Head Banking Operations

November 1, 2007 at 4:02 PM EDT

Veteran Banker to Lead Capital One Bank Operations Across the Company's Banking Footprint

MCLEAN, Va.--(BUSINESS WIRE)--Nov. 1, 2007--Capital One Financial Corporation (NYSE:COF) announced today that Michael W. Azevedo will join the executive leadership team of company's Bank business as the senior executive responsible for all bank operations across the company's banking footprint. A 27-year veteran of Wells Fargo Bank, Azevedo will oversee national operations and phone based banking of Capital One's banking activities. Azevedo will report to Lynn Pike, President of Capital One's Banking business.

"Mike brings a wealth of experience in business and consumer banking to the table," said Pike. "He is a seasoned and successful leader with a proven track record of running innovative, highly efficient, and customer-focused organizations. The depth and breadth of his experience, coupled with his focus on best in class customer support and banking platforms, present a powerful combination and give him an end-to-end perspective that we know will be invaluable in his new responsibilities."

Azevedo joins Capital One from Wells Fargo Bank, where he most recently served as Executive Vice President and Head of Wells Fargo's Business Banking Support Group, which provides support for Wells Fargo's business customers and business bankers across its 23-state footprint. Under his leadership Wells Fargo developed and implemented its current business banking platform across the company. The group develops and executes strategies that better serve and grow Wells Fargo's business banking customer base. Additionally, Azevedo was responsible for a full range of support services for Business Banking at Wells Fargo, including Market Analytics, Market Support, Marketing, Technology and Core Process Engineering, Commercial Loan Operations, Commercial Underwriting, Commercial Loan Portfolio Management Services and Construction Loan Underwriting and Servicing.

During his 27-year career at Wells Fargo, Azevedo served in a variety of positions in Northern California retail branches and commercial banking offices until taking on company wide roles in 1996. In 1993, Azevedo was named Business Banking Area Manager in California's Central Coast and Southern regions, where he was responsible for business banking activities in these key markets. Azevedo also played a critical role in helping Wells Fargo maintain its ranking as America's number one lender to small businesses. In 1996, he played a key role in the development and re-engineering of the bank's business lending processes and platforms including operations, underwriting and customer service and lead their successful integration across the company. Azevedo has lead key customer service, operations and technology areas of business banking and successfully lead the integration of Wells' business banking platform through several bank mergers. In 1998, Azevedo also assumed responsibility for Wells Fargo's National Business Phone Bank, supported by 720 team members. Under his leadership, customer satisfaction levels improved significantly. Leveraging the improved service environment, Azevedo created a dynamic sales organization that resulted in dramatic sales growth for the company. In 2006, he took over as Head of the Business Banking Support Group for the company.

Azevedo received his MBA from Santa Clara University and a Bachelor's degree from the University of California-Davis. In addition, he completed Dartmouth's Graduate School of Credit Financial Management and a Core Process Engineering Program at the University of Michigan.

An active member of his community, Azevedo volunteers for numerous non-profit organizations supporting family and community-focused initiatives. He has also served as Chairman of the United Way Campaign for the Central Coast.

About Capital One

Headquartered in McLean, Virginia, Capital One Financial Corporation ( is a financial holding company, with 732 locations in New York, New Jersey, Connecticut, Texas and Louisiana. Its principal subsidiaries, Capital One Bank, Capital One Auto Finance, Inc., and Capital One, N.A., offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One's subsidiaries collectively had $83.3 billion in deposits and $146.4 billion in managed loans outstanding as of September 30, 2007. Capital One, a Fortune 500 company, trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

CONTACT: Capital One Financial Corporation
Tatiana Stead
Media Relations
SOURCE: Capital One Financial Corporation