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Capital One has grown its commercial and industrial loans by double digits over the past year, but CEO Richard Fairbank is prepared to pull back if the battle for business clients becomes any more intense.
December 6
Capital One Financial (COF) has raided rival SunTrust Banks (STT) to help bolster its small-business lending team.
The McLean, Va., company said Wednesday that Brian K. Smith has joined the company as its senior director of Small Business Administration lending. Smith had previously worked in a similar capacity at SunTrust.
Joining Smith from SunTrust are Debbie Hudson,Tiffany Wilkins and Natasha Daem. Wilkins and Daem are SBA underwriters and Hudson's title is senior SBA closing manager. Also joining the team is portfolio manager Tammy Lorenzen, who held a similar position at SunTrust in 2009 and 2010.
"Brian and our entire SBA lending group will add a new dimension and considerable value to our small-business lending efforts," John Durrant, Capital One's managing vice president for small-business banking, said in a news release. "His experience within the small-business sector, particularly with SBA guaranteed loans, will help us as we continue to expand our products and services for small businesses."
