Capital One 2010 Annual Report Download - page 12
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10
Although we are much smaller than our largest competitors, we have positioned ourselves with relevant
scale in each of our businesses and the opportunity to gain share and generate exceptional returns. We
are a leading national consumer lender with industry-leading returns. We have local-scale positions
across our retail bank business in very attractive markets, with the ability to generate strong deposit
growth. We also have a low-risk local commercial bank with a strategic focus on establishing primary
banking relationships with high-quality clients.
In addition to our advantaged bone structure, we have several distinctive core strengths. We have a powerful
national brand and a massive customer base. With our Information Based Strategy and a foundation of
franchise-building customer practices, our card business is well-positioned to grow share. We have deep
risk management capabilities that have been honed and proven through credit cycles. We have the balance
sheet and infrastructure to selectively drive growth through attractive acquisitions. And, we have a differentiated
talent model that has made us a magnet for talented people.
Great people have always been essential to Capital One. From the beginning, we’ve consistently focused
on hiring great people and giving them a chance to be great. Over the years, our Board of Directors, our
Executive Committee, and all of our associates have navigated seemingly insurmountable challenges and
delivered amazing results with their intellectual horsepower. They’ve been driven by a hunger to accomplish
great things and make a positive difference in the world. They’ve displayed tremendous heart and compassion
for our customers, our communities, and each other. And, they’ve maintained their humility through
good times and bad. These “4 H’s” – horsepower, hunger, heart, and humility – define the people and
the culture of Capital One.
Our great people powered us through one of the banking industry’s most challenging periods. They led
with their values on display. Achieving excellence. Doing the right thing. Treating our customers and
colleagues with dignity. Delivering results. Our advantaged strategic position and our great people empower
us to continue to compete and win in each of our markets and to deliver compelling value for our customers,
our associates, our communities, and our shareholders in 2011 and well beyond.
Richard D. Fairbank
Chairman, CEO and President