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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.