Capital One Names Blackley CFO as Crawford's Duties Expanded

  • Crawford becomes head of finance and corporate development
  • Blackley gets one-time restricted stock award of $1 million

Capital One Financial Corp. named R. Scott Blackley as chief financial officer, replacing Stephen S. Crawford, who was appointed head of finance and corporate development.

Blackley, 48, currently the principal accounting officer and controller, will continue to report to Crawford in the new job, the McLean, Virginia-based lender said Thursday in a statement. Crawford, 51, will take on an expanded role leading the bank’s global finance organization and corporate development agenda, the firm said. The appointments are effective May 9.

Chief Executive Officer Richard Fairbank, who turned 65 in September, has run the lender since it was spun off by Signet Bank in a 1994 initial public offering. Crawford joined Capital One in 2013 as CFO designate after co-founding advisory firm Centerview Partners and working at Morgan Stanley, where he rose to co-president.

“The change in leadership structure appears to expand Mr. Crawford’s responsibilities to somewhat more of a strategic role with the company,” Sanjay Sakhrani, a KBW analyst, said in a note to investors. “While this could potentially raise inferences about CEO succession planning, based on our conversations with management, it is not the case.”

Blackley received a one-time award of restricted stock units valued at $1 million under the firm’s incentive plan, according to the filing.

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