Capital One 2007 Annual Report Download - page 15
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integrated view of customer relationships and enhanced online servicing capabilities.
These investments will enable us to provide all of our national and local customers with
better products at lower cost.
We have a franchise of over 50 million customer accounts and 36 million unique
customers. We interact with our customers around 300 million times a year, not
counting the billion times they use our cards. I am grateful for our customers’ loyalty,
and our job is to sustain and build on it to make Capital One the best choice for all
their banking needs.
Our Great People Are Achieving Great Things
Perhaps the most important franchise at Capital One is our people franchise. For twenty
years, we have run our company with the belief that our primary job is not to sell credit
cards or installment loans. Those are simply products that go through our factory. Our
number one job is to search the world for great people and to create an environment
where they can be great. That is our people franchise.
We have created a powerful brand in the talent marketplace. In 2007, we ranked
number 84 on Fortune’s “Best Places to Work” list; number 12 on Fortune’s “20 Great
Employers for New Grads”; and number 22 on BusinessWeek’s “Best Places to Launch
a Career.” In September 2007, Fortune published its extensively researched rankings
of the “Best Companies for Leaders.” That list was filled with such long-standing
corporate luminaries as General Electric and Procter & Gamble. On that list are the
companies I studied in business school 27 years ago. But there was a company near
the top of the list that did not even exist 27 years ago. That company is Capital One,
ranking number 2 in North America and number 5 globally.
Of course, we do not judge the quality of our people franchise at Capital One by
awards, but in this instance the public recognition confirms something that we have
known for a long time at our company. We have a very special culture that attracts
and empowers great people.
We are fortunate to have exceptional leadership from our board of directors and our
executive team. Our board is fully engaged on every aspect of our business. They ask
tough questions and are focused on driving shareholder value. We have a strong
management team, bolstered by a wealth of new executive talent recruited into the
company this year. I expect our management team to continue to drive great results.
13
“Our number one
job is to search
the world for
great people
and to create
an environment
where they
can be great.”