Summary
Capital One Financial Corporation (COF) announced a significant leadership transition in its risk management and legal departments, effective February 1, 2018, with a further transition planned for August 1, 2018. John G. Finneran, Jr., currently General Counsel, will assume the role of Chief Risk Officer on February 1, 2018, succeeding Kevin S. Borgmann. Mr. Borgmann will transition to Senior Advisor to the Chairman and CEO, a move stated to be at his request and unrelated to the company's financial or risk performance. This restructuring also includes Matthew W. Cooper stepping into the General Counsel role on February 1, 2018, and Sheldon Hall slated to become Chief Risk Officer on August 1, 2018, with Mr. Finneran then also moving to a Senior Advisor position focusing on legal, regulatory, and strategic matters. Investors should note that these are internal role changes aimed at leveraging executive experience, with no immediate indication of adverse financial or operational impact.
Key Highlights
- 1John G. Finneran, Jr. to transition from General Counsel to Chief Risk Officer effective February 1, 2018.
- 2Kevin S. Borgmann to transition from Chief Risk Officer to Senior Advisor to Chairman and CEO, a move initiated by Mr. Borgmann and not linked to company performance.
- 3Matthew W. Cooper appointed as the new General Counsel, effective February 1, 2018.
- 4Sheldon Hall will succeed John G. Finneran, Jr. as Chief Risk Officer effective August 1, 2018.
- 5John G. Finneran, Jr. will become a Senior Advisor to senior executives and the Board of Directors starting August 1, 2018.
- 6Mr. Borgmann's transition is stated to be at his request and unrelated to the financial or risk performance of the Company.
- 7The changes reflect an internal restructuring to leverage executive expertise in key areas.