Industries Banking/Finance

Capital One Financial Corp. plans to end 2011 with 3,600 new workers

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Capital One Financial Corp. plans to end 2011 with an addition of 3,600 employees.  Bloomberg News reported Monday that the McLean-based financial services firm already has hired 1,800 people and plans to hire an additional 1,800. The jobs would be primarily for bankers, financial analysts and call-center employees. Julie Rakes, a spokesperson for the company, confirmed the numbers for Virginia Business. The postions would occur in locations across the company’s footprint.

Capital One, which has about 1,000 branches in eight states and the District of Columbia, is in the midst of trying to acquire online bank ING Direct USA from Netherlands-based ING Groep NV in a $9 billion cash and stock deal.  If approved, ING Direct USA’s $80 billion of deposits would make Capital One the fifth largest bank in the country with about $200 billion in deposits. Currently, it ranks as the eighth largest bank based on domestic deposits.

The Federal Reserve is scheduled to begin the first of three hearings tomorrow to allow public comment on the proposed acquisition.  Some consumer rights advocates are afraid that the deal would create a bank so large that its collapse would harm the financial system.

Capital One’s will release its third-quarter earnings on Oct. 20.

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