Capital One-HSBC Deal Means 400 New SD jobs
by Associated Press
November 15, 2011 9:13 AM
South Dakota's governor and congressional delegation say Capital One Financial Corp. will add 400 jobs in Sioux Falls in its proposed acquisition of HSBC's domestic credit card business.
Capital One in August announced the acquisition of the U.S. credit card arm of Britain's HSBC for $2.6 billion. Gov. Dennis Daugaard, U.S. Sens. Tim Johnson and John Thune and Rep. Kristi Noem say the 400 HSBC employees in Sioux Falls will become Capitol One workers, and the company will double its workforce next year.
The South Dakota Governor's Office of Economic Development offered Capital One a $200,000 grant to help with the cost of training new workers. Capital One Chairman and CEO Richard Fairbank says Sioux Falls has an "experienced and talented workforce" and that the company appreciates the state support.