The original leader of Capital One Financial's philanthropic arm has decided to move on.
Carolyn Berkowitz stepped down as president of that Capital One Foundation in McLean, Va., in late April to pursue other opportunities, the company confirmed Wednesday. She was succeeded by Catherine Foca, who had been the foundation's vice president for programs and operations for the past seven years.
Berkowitz, in an interview with the Washington Business Journal, said it was "time for change" after a leading the foundation for a decade. Berkowitz, who will remain with the company as an adviser through October, described the parting as "amicable."
Berkowitz joined Capital One as vice president of community affairs in 2005, developing the $371 billion-asset company's grant funding, volunteerism and community relations. She was named the foundation's president when it was established two years later. In that capacity, she led a nationwide team of 35 associates in developing and executing on a 10-year, $450 million philanthropy strategy, according to her LinkedIn profile.
"Carolyn has made tremendous contributions to the work of the Capital One Foundation throughout her tenure as president, providing strategy and guidance that has helped to further Capital One's mission and enhance our ability to impact local communities," Richard Woods, Capital One's senior vice president of corporate affairs, said in a statement.