Nov. 7 (Bloomberg) -- Capital One Financial Corp., the lender that completed the purchase of ING Groep NV’s U.S. online bank earlier this year, said it rebranded the business “Capital One 360.”
The new name will go into effect in February, according to a notice sent to customers today. ING’s orange-ball logo will be replaced by a design incorporating the name Capital One 360, the McLean, Virginia-based company said in the e-mail.
Capital One Chief Executive Officer Richard Fairbank, 62, completed the $9 billion transaction in February. The new name shows the intent of Capital One to surround customers with the best digital products and access to other services, according to an e-mail from Tatiana Stead, a spokeswoman for the bank. She said the law required a business name change.
“As of February, we’ll have a new name and a fresh look on the outside -- but on the inside it’s the same ING Direct you’ve come to know and love,” the company said in the e-mail, signed by Jim Kelly, head of direct banking at the business, and Jon Witter, president of retail and direct banking at Capital One.
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