Capital One 2011 Annual Report Download - page 12

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monitor diversity in hiring and promotion, tolerance, and family-friendly policies. We’re proud to be on
Fortune magazine’s “100 Best Companies to Work For” list and its “Top Companies for Leaders” list. We
were also honored to appear again on the Working Mother “100 Best Companies” list.
Although we are well positioned, we continue to face many challenges. Like all banks, we must deal with
an extended period of low interest rates and a flat yield curve. Regulatory scrutiny of banking continues to
increase, and we expect higher capital requirements and higher compliance and risk-management costs.
And we must do an efficient, effective job of integrating our latest acquisitions. As we execute our integrations,
we’ll need to preserve and build upon the simple and powerful customer experience that ING Direct
delivers today, and we’ll need to effectively manage the operational complexities of the HSBC acquisition.
I am confident that we’re ready to meet all of these challenges head on.
Over the years, we’ve positioned ourselves to compete and win in banking, and to deliver long-term shareholder
value through growth potential, strong returns, and strong capital generation. But how we achieve these
results is just as important – to our customers, to our associates, and ultimately to our shareholders. What
we do matters to people. The impact of banks on people’s lives is profound, and it’s personal. By harnessing
the power of incredibly talented associates operating in an open and ethical environment and advocating for
the customer, we can change the game for our customers. We can help them succeed with smarter ways
to save, transact, borrow, and invest. With undeniably great products and a customer experience that is
refreshingly easy, and right the first time, we can create an experience “to tell your friends about.”
More than ever before, our future is in our own hands. There is much work to do, but the opportunities are
as promising as they’ve been since we began our journey over two decades ago. I am confident that the
incredibly talented, dedicated, and caring people of Capital One will rise to our challenges and opportunities
once again. We have worked many years to be where we are today, and I wouldn’t trade places with anyone.
Richard D. Fairbank
Chairman and Chief Executive Officer