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Richard Fairbank

Richard Fairbank

Founder, Chairman & CEO, Capital One

Appears in 1 story

Notable Quotes

"Since our founding, we set out to build a payments company at the frontier of the technology revolution. Acquiring Brex accelerates this journey, especially in the business payments marketplace." — January 2026

"Since our founding, we set out to build a payments company at the frontier of the technology revolution. Acquiring Brex accelerates this journey, especially in the business payments marketplace." — January 2026

"The deal will lead to earnings dilution initially, but should eventually contribute significant accretion over time." — January 2026, analyst call

Stories

Capital One doubles down on business payments with $5.15B Brex acquisition

Money Moves

Leading post-Discover integration while acquiring Brex

Capital One spent two decades as a credit card company that happened to be a bank. Now Richard Fairbank wants to become something else: a technology company that happens to issue cards. Eight months after closing its $35 billion Discover acquisition—making it America's largest credit card lender—Capital One announced it will pay $5.15 billion for Brex, the AI-native expense management platform that counts Anthropic, DoorDash, and Robinhood among its 25,000 corporate customers. The deal structure splits evenly: $2.75 billion in cash and 10.6 million Capital One shares.

Updated Jan 25