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Capital One to open commercial banking office in Richmond

September 7, 2011
By Carol Hazard / Richmond Times-Dispatch

Capital One Financial Corp. said Tuesday that it will open a commercial banking branch in downtown Richmond — its first branch office in the area.

The McLean-based credit card and financial services company, the largest private employer in the Richmond area, signed a lease for an office in the Williams Mullen Center.

"We are excited about expanding our banking services in Richmond and bringing together an experienced group of commercial bankers who will lead Capital One's entry into this important market," said Katherine Busser, Capital One's regional bank market president for Richmond.

Capital One's commercial banking division supports businesses with revenue of more than $10 million, company spokeswoman Julie Rakes said.

"It's often called the middle market," she said.

The bank provides products and services such as treasury management, debt solutions and depository services.

Rakes did not rule out the possibility of opening a retail branch here for individual consumers.

"We continue to look for opportunities in the future to expand our other businesses here as well," she said.

The 14,000-square-foot space in the Williams Mullen Center at 200 S. 10th St. will be the primary location for Capital One's commercial bank group, led by local commercial banker Van Knick.

"Our team is looking forward to rolling up our sleeves to help the region's businesses take advantage of growth opportunities," said Knick, a senior vice president.

Knick, who has more than 15 years of experience in the Richmond market, will be joined by Tom King, senior vice president; Theresa Wills, senior vice president; and Tavis Maxwell, vice president.

The office, which is expected to be complete in early 2012, will house a 15-person commercial team. It will be able to accommodate an additional 30 employees.

Until the new space opens, the commercial bank team will work in Capital One's offices in Innsbrook Corporate Center in western Henrico County.

Capital One employs about 8,000 people in operations in Chesterfield, Henrico and Goochland counties.

Capital One operates about 1,000 retail and commercial branch offices, primarily in New York, New Jersey, Texas, Louisiana, Maryland, Northern Virginia and Washington, D.C.

Its banking operations were formed by the acquisitions of three banks — one in the Southeast, Hibernia National Bank in 2005; one in the Northeast, North Fork Bank in 2006; and one in the Washington, D.C., area, Chevy Chase Bank in 2009.

 

Copyright Richmond Times-Dispatch. Used by permission.

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