Capital One Hires JPMorgan, Barclays Bankers to Expand in Energy

Capital One Financial Corp. (COF), the lender that gets more than half its revenue from credit cards, hired two bankers with experience advising firms in the oil and gas industries as it expands its securities business.

Former Barclays Plc (BARC) banker Russ Johnson, 42, and Bob Mertensotto, 54, who worked for JPMorgan Chase & Co. (JPM), will fill newly created positions, according to a statement yesterday from the McLean, Virginia-based company. Johnson, who co-led oil and gas leveraged finance at Barclays, will be head of energy investment banking, while Mertensotto will lead energy debt-capital markets, according to the statement.

Johnson and Mertensotto will be in charge of Capital One’s energy-banking office in Houston and report to Jim McBride, head of the energy-banking group within capital markets, the company said. Mertensotto began at the bank today, while Johnson joined last week, Michael Bulger, a Capital One spokesman, said in an e-mail.

The hires are the second and third this month announced by Capital One in its securities group as it looks to increase revenue outside of consumer credit-card lending in the U.S. On Aug. 14, the firm announced the hiring of former Goldman Sachs Group Inc. banker Steven Tulip to head the capital-markets business.

To contact the reporter on this story: Dakin Campbell in New York at dcampbell27@bloomberg.net

To contact the editors responsible for this story: David Scheer at dscheer@bloomberg.net; Christine Harper at charper@bloomberg.net

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