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While today’s treasurers are expected to make a concrete contribution to shareholder value, taking on a raft of strategic roles, it’s still rare to see a treasury team take center stage in a $15 billion acquisition–the way Capital One’s team did when the financial services company bought North Fork Bank last year. The deal was a key part of the company’s strategy to add branch banking to its existing portfolio of consumer financial services, says Capital One CFO Gary Perlin: “By acquiring North Fork Bank in 2006, we not only added a leading institution in one of the most attractive deposit markets in the U.S., we also achieved the balance in funding and business mix we had been targeting.”
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