Capital One Financial has named John Finneran as chief risk officer, for now. He will succeed Kevin Borgmann in this role, effective Feb. 1. Six months later, a new chief risk officer will take the helm.
Finneran will transition to this role from his current role as general counsel. Consequently, his role will be assumed by Matthew Cooper, who will be responsible for overseeing the company’s legal department. Cooper, who joined the company in 2009, has served in successively senior roles in the company’s legal department, most recently as the functional head of the department.
Borgmann, who has served as the company’s chief risk officer since January 2013, will transition into the role of senior advisor to Chairman and CEO Richard Fairbank and the company’s executive team. In a securities filing, Capital One said the change in responsibility is "being made at Mr. Borgmann’s request and is unrelated to the financial or risk performance of the company." Borgmann will continue to report to Fairbank and will focus on strategy, risk management, and executive recruiting matters.
By Aug. 1, 2018, Sheldon Hall will then succeed Finneran as chief risk officer. At such time, Finneran will become a senior advisor to Fairbank and other senior executives in the company, as well as to the board of directors. In that role, Finneran will advise on legal and regulatory issues, corporate strategy, reputation, mission, and culture. Hall joined the company in 1997 and currently leads a significant portion of its U.S. card business, in which he is responsible for developing overall business strategy, product development and innovation, and customer experience.