April 17, 2009

James Jackson, a Bank of America veteran, was named head of branch distribution at Capital One Bank.He will manage staff across the company’s banking markets in 1,000 branches -- or about 250 more than the bank previously had before it bought Chevy Chase Bank.He replaces Carolyn Drexel, who is retiring after more than three decades with the company.At Bank of America he was most recently Southeast division executive for Premier Banking and Investments. He was also previously consumer banking division executive for Bank of America’s East division, where he was responsible for 1,500 banking centers and $77 billion in market balances.

McLean-based Capital One Financial (NYSE: COF), one of the nation’s largest credit card issuers, completed its $520 million acquisition of Bethesda-based Chevy Chase Bank in February, turning it into the largest consumer and commercial bank headquartered in the Washington region.Capital One had only recently entered the retail banking industry with bank acquisitions in New York, New Jersey, Texas and Louisiana.Through the purchase, Capital One picked up $13 billion in deposits, 250 branches in D.C., Maryland and Virginia and more than 1,000 ATM locations, the largest ATM network in the region. Chevy Chase branches will eventually be rebranded as Capital One Bank.