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Richard Fairbank is founder, Chairman and Chief Executive Officer of Capital One Financial Corporation.
Mr. Fairbank began his career in 1981 with Strategic Planning Associates, spending a total of seven years consulting in different industries.
Based on his belief that information and technology would change the world of consumer marketing, Mr. Fairbank developed the idea that would ultimately become Capital One's hallmark - its Information Based Strategy (IBS). IBS combines the power of information, technology and testing to bring customized solutions to consumers.
Mr. Fairbank recruited fellow SPA consultant, Nigel Morris, to help find a sponsor for IBS in the credit card industry. In 1988, Richmond, Virginia-based Signet Bank agreed to implement the strategy. In 1994, Signet decided to spin-off its credit card business as Capital One Financial Corporation, and Mr. Fairbank became Chairman and Chief Executive Officer of Capital One.
Capital One rapidly became one of the largest credit card issuers in the United States . Over the years, Capital One expanded into new products and markets and created one of the most recognized brands in the United States. Today, Capital One is a diversified Fortune 200 company with more than 48 million accounts world-wide offering a wide variety of financial services, including credit cards, auto loans, instalment loans, small business loans, home equity loans, and savings products.
Throughout his career, Mr. Fairbank has received many honours and awards including being named "Best CEO" in specialty finance by Institutional Investor magazine and "Business Leader of the Year" by Washingtonian Magazine.
Since February 2004, Mr. Fairbank has served as a Director on MasterCard International's Global Board of Directors. Prior to that, Mr. Fairbank served on the U.S. Region Board of Directors of MasterCard from March of 1995 until February 2004, serving as its Chairman from March of 2002 until February of 2004.
Mr. Fairbank graduated from Stanford University with a degree in economics and received an MBA from the Stanford Graduate School of Business | 