Malcolm S. McDonald

Carlson School of Management, June 12, 2000

Malcolm McDonald graduated from the University of Minnesota in 1960 with a bachelor's degree in business administration. He has distinguished himself as a leader in the world of finances during a career that spans nearly four decades. His career in banking began at Signet Banking Corporation in 1970. There he served in various executive capacities including executive vice president, elected member and vice chairman of the board of directors. He became president of Signet in 1990. He was elected CEO in 1996 and board chairman in 1997. Mr. McDonald also was responsible for the launch of what is now called Capital One Financial Corporation. Capital One now has 22 million customers, a $10 billion market value, and its stock has appreciated nine-fold. He is described as a visionary who is an outstanding achiever in every respect both in his community and his industry. The All-University Honors Committee strongly endorsed the awarding of an Outstanding Achievement Award to Malcolm S. McDonald from the University of Minnesota.