Capital One to split cards management after exec departure

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Capital One Financial in McLean, Va., is splitting up the management of its cards business.

The $200 billion-asset company disclosed in a regulatory filing Friday that Ryan Schneider is relinquishing his post at president, card, effective Nov. 28 to become chief executive of another publicly traded company. Capital One did not disclose the name of the other company. Schneider will remain with Capital One as a senior advisor through Jan. 3.

Capital One said Michael Wassmer will be promoted to president, U.S. card, while Christopher Newkirk will become president, international and small business card. Wassmer is executive vice president of Capital One's U.S. domestic card business, other than co-branded card. Newkirk is executive vice president and head of international card.

Wassmer and Newkirk will report directly to Capital One Chief Executive Richard Fairbank.

This article originally appeared in American Banker.
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