Banking
Amid the flurry of news this week surrounding President Trump’s speech at the World Economic Forum in Davos, Switzerland, an announcement by the nation’s third-largest credit card issuer, $661 billion (assets) Capital One, that it was spending $5.2 billion on a fintech named Brex seemed to garner little attention. However, Capital One’s billionaire CEO and cofounder Richard Fairbank is renowned as one of banking’s smartest strategists, and this latest acquisition, which is priced well below Brex’s $12 billion valuation from 2022, could prove to be a game-changer in two different areas. Founded in 2017, Brex offers corporate credit cards, employee…
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