"Culture is focused on getting the work done, not how many hours you spend doing it"
Colleagues are "warm, friendly and inclusive"
Culture "favors people who can speak loud and make their voices heard"
"Very diverse at the lower levels, but once you get to the senior levels, it's not"
Based in McLean, Va., Capital One is the nation's fifth-largest issuer of MasterCard and Visa credit cards and has more than 50 million customers. As well as its card services, the firm provides savings and consumer lending products. Its major subsidiaries are Capital One Bank, Capital One NA, Capital One FSB, Capital One Auto Finance and North Fork Bank. Capital One Services, another subsidiary, provides operating and back-office services to the company and its other subsidiaries. The company offers a full range of credit cards, including platinum cards, secured cards and cards for small businesses. Capital One's savings products include certificates of deposit, money market accounts and individual retirement accounts; the firm's lending unit helps consumers purchase everything from cars to homes.
In 2006, the firm delivered another year of solid results and increased its focus on banking with the purchase of North Fork. However, the credit crisis of 2007 proved more difficult for the company. Capital One brought in $14.58 billion in revenue, up from the $12.09 billion it earned in 2006. Net income for the year decreased to $1.57 billion, a downturn from the $2.41 billion it generated in 2006. The overall shakiness of the credit markets industry contributed to the unimpressive income statement.
In 2008, Capital One expected to lose more than $5 billion due to the rising delinquencies and home foreclosures. Although Capital One has diversified holdings that include auto loans, consumer credit cards and global financial services, the housing meltdown has represented a growing burden on the company's bottom line.
For the second quarter of 2008, revenue dropped about 5 percent to $3.35 billion and net income decreased to $452.9 million. Analysts pointed to the continued worsening of the credit markets for the poor numbers, along with the $829.1 million in cash the firm had to reserve for the quarter to cover loan defaults. In the Fortune 500 2009 list, Capital One Financial ranked No.145, down by 15 notches from last year's rank of No.130.
Regardless of these setbacks, the corporation has continuously earned accolades for its executive coaching and leadership development programs. The firm is also a regular in Fortune's Global Top Companies for Leaders surveys. Capital One runs numerous programs aimed at cultivating leaders, including its Leaders as Teachers program, executive speaker series, Capital One University Leadership College, Leadership Development Program, Executive Coaching Program and semiannual Executive Talent review.
1680 Capital One Dr.
McLean, VA 22012
Phone: (703) 720-1000
Employer Type: Public
Stock Symbol: COF
Stock Exchange: NYSE
Chairman, President, and CEO: Richard D. Fairbank
2009 Employees (All Locations): 32,000
Fort Worth, TX
Falls Church, VA