Capital One hires advisors for expansion into oil and gas markets
The lending firm that receives its revenue from credit cards, Capital One Financial Corp, had hired two bankers to advise them on its program to expand its securities business. The advice would focus on investments into the oil and gas industries.
The advisors are former Barclays Plc banker Russ Johnson and former JPMorgan Chase stalwart Bob Mertensotto. They would be filling new positions according to an issued statement by Capital One from its McLean, VA office. Johnson had led oil and gas leveraged financing while at Barclays. He would be head of energy investment banking for Capital One while Mertensotto would head its energy debt capital markets division.
The two would be reporting to Jim McBride, who heads the company's energy banking group in capital markets. The two would be holding office in Capital One's Houston premises.
This is the latest wave of hirings conducted by Capital One for its securities group as it expands revenue streams beyond its consumer credit card lending operation in the United States.