Capital One to buy tech-focused investment bank

Capital One Financial in McLean, Va., has agreed to buy a boutique investment bank that specializes in the aerospace, defense and technology industries.

The $254.5 billion-asset company's deal for KippsDeSanto is expected to close next month. Capital One did not disclose the price.

“By bringing our teams together, we'll be able to add scale and expertise to our growing M&A advisory group which will benefit clients in a wide variety of industries,” Steve Tulip, head of capital markets at Capital One Commercial Banking, said in a press release.

Capital One branch — The consent order between the Federal Reserve and Capital One required the bank to submit progress reports on its efforts to improve its risk management functions.

KippsDeSanto, based in Tysons Corner, Va., will operate under its own name as a unit of Capital One. In one of its recent deals, KippsDeSanto advised Solers, a software developer for the defense and intelligence communities, on its sale to Peraton.

Capital One provides investment banking services through its Capital Markets division, which includes advisory services for public finance, derivatives management and the broker-dealer Capital One Securities.

Andy Peters

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