Capital One Bank Names Doug Kennedy Head of Middle-Market/Corporate Banking for New York and New Jersey

Capital One Bank today announced that the middle-market/corporate banking groups for New York and New Jersey will be consolidated under the leadership of 32-year banking veteran Douglas L. (Doug) Kennedy, who has headed this function for New Jersey since June 2004.

Carmen Mastroianni, who has headed middle-market/corporate banking in New York, will retire at the end of this year after nine years of dedicated service. He will work closely with Kennedy on the transition.

Kennedy is responsible for the bank’s middle-market business in New York and New Jersey. He joined the banking business of Capital One in 2007 with the acquisition of North Fork Bank. Prior to joining North Fork Bank, he was responsible for Bank of America’s middle-market business in New York City, Long Island, New Jersey and Pennsylvania.

With offices in Manhattan, Long Island and New Jersey, Kennedy will continue to report directly to Michael C. Slocum, Capital One’s Executive Vice President of Commercial Banking.

"Doug is an accomplished and highly effective leader,” said Slocum. "His broad knowledge of commercial banking and the New York market make him particularly well-suited for his expanded role within our banking organization. Over the past four years, Doug and his team have built a strong foothold in the desirable New Jersey market, and his extensive experience managing middle-market banking efforts in New York make him the right choice for this position. Carmen has contributed significantly to the success of our commercial-banking group in New York. We thank him for his leadership and service and wish him well as he prepares to retire.”

A prominent member of the community, Kennedy serves on several boards. He is chairman of Montclair State University’s Board of Trustees and recently co-chaired the University’s capital campaign, which raised $60 million for the university. He is president of NJ After 3, a public/private funded organization that provided after-school programming for 15,000 Abbott district children statewide. Kennedy also is an active trustee of Tri-County Scholarship Fund, which provides $1 million annually in tuition assistance for children in North Jersey. He is a member of the New Jersey Performing Arts Center, the New Jersey State Chamber of Commerce, and the New Jersey Banker’s board of directors. In addition, he is the past chairman of NationsPort, a coalition of business and labor leaders who support and ensure the continued development of the Port of New York and New Jersey.

A native of Weymouth, Mass., Kennedy received a bachelor’s degree in economics and a master’s degree in business from Sacred Heart University in Fairfield, Conn.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries collectively had $92.4 billion in deposits and $147.2 billion in managed loans outstanding as of June 30, 2008. Headquartered in McLean, VA, Capital One has 740 locations in New York, New Jersey, Connecticut, Texas, and Louisiana. It is a diversified bank whose principal subsidiaries, Capital One, N.A. and Capital One Bank (USA), N.A., offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.