Dive Brief:

• R. Scott Blackley, Capital One's CFO of nearly five years, will leave the bank March 1 to become CFO of health insurance startup Oscar Health, the New York-based company announced Thursday. He will be replaced by 45-year-old Andrew Young, CFO of the $421.9 billion-asset bank's business line. 
• At Oscar, Blackley will succeed Sid Sankaran, the company's CFO of just under two years, who is departing to become chairman and CEO of reinsurance company SiriusPoint. Sankaran will become vice chairman at Oscar upon Blackley's hiring and will join the board June 30. Blackley notified Capital One and its board of directors Nov. 27 of his plans to depart, American Banker reported. 
• "By combining the power of a technology company with the reach of a health insurance company, Oscar is transforming the industry to be more consumer-centric at a time when America needs affordable care more than ever," Blackley said in a statement. "I look forward to using my background and experience to help Oscar deliver on its mission to make a healthier life accessible and affordable for all."

Dive Insight:

Young has worked at Capital One since 1996, and over the past two years, has managed all lines-of-business CFO teams, as well as enterprise planning and budgeting.

He has also served as finance chief of Capital One North America, the larger of the company's two national bank subsidiaries. 

Young headed corporate planning as CFO of infrastructure from January 2015 to April 2018. He joined Capital One as an analyst and, in his nearly 25-year tenure, has worked in leadership positions across human resources and finance, including director of HR analysis and chief of staff to the CFO, according to his LinkedIn profile.

Prior to becoming finance chief, Blackley spent five years as Capital One's controller and principal accounting officer. Before joining Capital One, he served as CFO of capital markets at Fannie Mae, worked as a vice president and assistant controller at AOL, and was a partner at KPMG, his LinkedIn profile indicated.

Among Oscar's co-founders in 2012 was Joshua Kushner, the brother of White House senior adviser Jared Kushner.