[ by Howard Haykin ]

Stephen Crawford "is now in Capital One Financial's wallet" and, beginning Monday, 2/4, he's begin serving as that Chief Financial Officer Designee.  On 5/24/13, Mr. Crawford will formally replace CFO Gary Perlin, who will retire.   Mr. Crawford will report to Chairman and CEO Richard Fairbank.  He leaves boutique investment bank Centerview Partners, where he had been a top executive. 

Mr. Crawford's Background.   Return to 'Big Banking'.   For Mr. Crawford, the move is a return to 'big banking', having previously worked at Morgan Stanley - as CFO, then its Co-President.  He made his mark as an adviser to financial institutions, helping orchestrate deals like Fleet Bank's $49 billion sale to Bank of America.

While at Centerview, Mr. Crawford had close ties to Capital One, having advise that investment banking client on its $9 billion purchase of the American online banking arm of ING.   Mr. Crawford said the following as part of a prepared statement:

"I have watched the transformation of Capital One over the last decade and have the greatest admiration for Rich [Fairbank] and his strategic vision for the company.  It is an honor to take on this important role and I look forward to continuing to help create a great company and bring value to our investors."

In making the jump from deal-making investment banker to CFO of a client, Mr. Crawford is following the path taken by Stuart Epstein, who in 2011 was a top media banker at Morgan Stanley when he joined the corporate parent of a longtime client, Comcast, as its CFO.   [ Dealbook, 2/1/13 ]