Capital One Sues Ex-Banking Chief Over Expansion

Law360, New York (July 15, 2011, 4:13 PM EDT) -- Capital One Financial Corp. filed a suit Thursday in Virginia alleging John A. Kanas, former head of its banking operations and current head of BankUnited Inc., breached a noncompete pact through plans to expand into New York.

Capital One claims that Kanas and his longtime partner John Bohlsen have violated employment separation agreements by laying the groundwork for a Northeast expansion of Coral Gables, Fla.-based BankUnited before their contracts expire in August 2012.

Kanas joined McLean, Va.-based Capital One in 2006 when the financial giant acquired...
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