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Robert Alexander
Chief Information Officer
Capital One Financial Corp.
(PNR)

In February, Capital One Financial Corp. closed a $9 billion deal for the U.S. business of ING Direct, the multinational virtual bank divested by Dutch parent ING Group. Overnight, Capital One gained 7.6 million customers and $84 billion in deposits. Its first-quarter net income of $1.4 billion was about $600 million higher than it otherwise would have been. Such large-scale transformations have become routine for Robert Alexander, the $294 billion-in-assets banking company's chief information officer and infrastructure committee chairman. A Harvard University MBA and former air force first lieutenant, Alexander joined Capital One in 1998 from consulting firm Bain & Co. and has held several senior lending and information technology positions. When the McLean, Virginia–based company was diversifying mid-decade from a monoline lender into a full-service bank, Alexander presided over a three-year IT replacement project. After becoming CIO in 2007, he consolidated nearly 30 technology facilities into two, in Richmond and Plano. ING Direct has a "fantastic platform" that will be integrated with the rest of Capital One, says the 47-year-old, who last year set up a digital lab with "a dedicated team of people to drive innovation in the online and mobile arena. It's critical to have speed be more of a focus."