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CO-FOUNDER, CEO AND CHAIR, CAPITAL ONE FINANCIAL CORP., McLEAN
CO-FOUNDER, CEO AND CHAIR, CAPITAL ONE FINANCIAL CORP., McLEAN
Virginia Business// August 29, 2022//
Before he built a Fortune 500 bank holding company, Fairbank started a swimming school as an undergraduate student at Stanford University, where he later earned an MBA.
Then he got his feet wet in finance, working as a banking consultant and landing at Virginia’s Signet Bank, where he co-created the spinoff business that became Capital One.
In 1994, Fairbank became CEO of Capital One during the company’s initial public offering. Last year, Capital One reported revenue of $30.4 billion, up 7% from 2020. Fairbank became a billionaire in 2018.
Fairbank announced in May that Capital One employees are set to return to offices in person on Sept. 6, after two delays due to COVID-19 spikes. He noted, “as we get closer to September, we will closely monitor the health environment,” and delay once again if necessary.
In September 2021, the Federal Trade Commission announced Fairbank would pay a $637,950 civil penalty to settle charges that he had violated a federal law that requires individuals and companies to report transactions over a certain amount. A Capital One spokesperson said in news reports that a law firm error led to the violation.
