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Letter from the Chairmen

"Margins are pinched, loan demand has yet to recover, consumers and regulators are pushing back on all kinds of fees – in some ways, it seems as though nothing has changed over the last 12 months." Read more...

Jonathan W. Witter

President of Retail and Direct Banking

Capital One

Jon Witter is president of Retail and Direct Banking at Capital One Bank. In this role, Jon provides strategic direction and leadership for the Retail and Direct Banking organization. He is responsible for more than 14,000 Retail and Direct Banking associates, nearly 1,000 branch and office locations, and 2,200 ATMs in California, Connecticut, Delaware, Louisiana, Maryland, Minnesota, New Jersey, New York, Texas, Virginia, Washington and Washington, D.C. He reports to Rich Fairbank, Capital One’s chairman and CEO. He also serves as the company's Mid-Atlantic regional president. Jon is a seasoned financial services executive with more than 20 years of experience building profitable products, channels and businesses in the consumer and wholesale financial service sectors. His deep management consulting background comes from serving two years at Deloitte & Touche Consulting Group and later six years as an associate principal at McKinsey & Company, where he specialized in banks, financial services and insurance clients. During this time, Jon focused on a diverse base of large, medium and small banks, insurance companies and other financial services institutions across a wide variety of disciplines. From McKinsey & Company, Jon served as executive vice president and head of general bank distribution at Wachovia. In this capacity, he led Wachovia’s non-branch distribution channels (phone, ATM, Internet). In addition, Jon led the deposit and retail credit product teams that managed product features, functionality, services and profitability. He also led the company’s branch and network management function that played a major role in new market entries in Texas and California. Following Wachovia, Jon served as managing director and president of Morgan Stanley Private Bank NA and Chief Operating Officer of Morgan Stanley’s Retail Banking Group. In this role, Jon was accountable for the strategic direction and overall success of the business, including day-to-day leadership over product management, mortgage, information technology, operations and CRA. Jon received a M.B.A. from the Wharton School of Business, where he was recognized as a Palmer Scholar. He received his B.A. magna cum laude from Vanderbilt University in Economics. Jon has served as vice chairman of finance for the Charlotte Symphony and sits on the Queens University of Charlotte, McColl School of Business Advisory Committee. He resides in Washington, D.C., with his family.