Capital One Financial Corp. has lured a business-banking executive from Wells Fargo & Co. to help oversee its banking operations.
A spokeswoman for the $143.9 billion-asset McLean, Va., company said Thursday that Michael W. Azevedo will join the company in mid-November as its senior executive of bank operations. She said that Mr. Azevedo, 47, will work in New York and report to Lynn Pike, the president of Capital One’s banking business.
Mr. Azevedo is expected to work with Ms. Pike in combining the company’s southern banking operations, which it obtained through its 2005 acquisition of Hibernia Corp. in New Orleans, with the New York-oriented franchise it picked up after buying North Fork Bancorp in Melville, N.Y. in December, the spokeswoman said.
Mr. Azevedo had been an executive vice president at Wells Fargo’s Wells Fargo Bank, where he was the head of its business banking support group.
At Capital One, he will replace Rick Otero, who had held the post temporarily while also serving as Ms. Pike’s chief of staff.
