TCBI appoints Daniel Hoverman to lead Investment Banking division. (2024)

DALLAS, September 1, 2021 -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, today announced that Daniel S. Hoverman has been appointed as Executive Vice President of Texas Capital Bank and Managing Partner and President of TCBI Securities, Inc., effective immediately.

In this newly created role, Mr. Hoverman will report directly to Rob C. Holmes, President and CEO, and will lead Texas Capital Bank’s Investment Banking Division, expanding its existing syndications, equipment finance, hedging, asset-based loan and related businesses, and establishing and operating its newly formed, affiliated broker-dealer, TCBI Securities, Inc. Texas Capital Bank has initiated the application process to register TCBI Securities, Inc. with the Financial Industry Regulatory Authority (FINRA), the Securities and Exchange Commission (SEC) and applicable state regulatory agencies. Once approved, Texas Capital Bank’s Investment Banking Division will provide its clients access to a wide array of products, services and solutions, including mergers and acquisitions advisory, capital raising, securities underwriting, sales and trading, hedging and mortgage services.

Mr. Hoverman brings more than 20 years of experience encompassing financial and legal roles in investment banking, corporate advisory and capital markets. He most recently served as Managing Director, Head of Corporate Advisory and Sponsors Coverage at Regions Bank in Dallas, Texas, where he led a team focused on originating and executing financing and advisory transactions. Prior to that, Mr. Hoverman was a Director in the Corporate Finance group at Houlihan Lokey in New York, where he advised clients on mergers and acquisitions and capital markets activities. He also previously held various financial and legal roles at Credit Suisse, UBS Investment Bank and Kirkland & Ellis in New York, London and Hong Kong.

“I am pleased to welcome Dan, a proven leader and veteran investment banking professional, to Texas Capital Bank,” said Mr. Holmes. “Dan’s track record of delivering successful client outcomes across a range of investment banking products and deep expertise with the appropriate legal, regulatory, risk and compliance investment banking infrastructure, as well as his personal and professional connections to the Texas market, will prove invaluable in this new role. Under his leadership, Texas Capital Bank will build on our commitment to deliver an enhanced offering of products, services and solutions for our clients. I look forward to sharing additional details about our vision for the business more broadly on today’s strategic update call.”

Mr. Hoverman said, “It is an honor to join Texas Capital Bank at this important moment in the company’s transformation. I look forward to working with Rob and the team of talented executives and bankers to build the premier Texas-based investment banking platform.”

In a separate release, Texas Capital Bank today announced updates to the Company’s go-forward strategy. Executive management will host a conference call and webcast to discuss these updates today, Wednesday, September 1, 2021 at 4:30 p.m. EDT.

About Daniel S. Hoverman

Mr. Hoverman joined Texas Capital Bank in August 2021 as Executive Vice President of Texas Capital Bank and Managing Partner and President of TCBI Securities, Inc. Mr. Hoverman has extensive mergers and acquisitions advisory and financing experience, having completed more than $100 billion in transactions for private and public companies and private equity firms in the United States, Europe and Asia.

Mr. Hoverman earned a BA from Yale University, where he was a Robert C. Bates Fellow and the New Prize recipient. Mr. Hoverman also earned a JD and an MBA from Columbia University, where he was a John M. Olin Fellow and a James Kent Scholar. He holds FINRA Series 7, 24, 63 and 79 licenses, is a Chartered Financial Analyst and is an inactive member of the New York Bar.

About Texas Capital Bancshares, Inc.

Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank, a commercial bank that delivers highly personalized financial services to businesses and entrepreneurs. We are headquartered in Dallas, Texas, and work with clients across the country. For more information, please visit www.texascapitalbank.com. Member FDIC.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of and pursuant to the Private Securities Litigation Reform Act of 1995 regarding, among other things, our strategy, our enterprise-wide transformation, our future performance, financial condition and business models, new products and business initiatives, our plans for investments and for growth and expansion, including establishing a broker-dealer, and our targets for various future time periods, including expense and revenue growth in 2022 and our plans to build tangible book value. These statements are not historical in nature and may often be identified by the use of words such as “expect,” “plan,” “may,” “will,” “should”, “projects,” “target,” “continue,” “intend,” “goals,” “growth,” “roadmap” and similar expressions.

Because forward-looking statements relate to future results and occurrences, they are subject to inherent and various uncertainties, risks, and changes in circumstances that are difficult to predict, may change over time, are based on management’s expectations and assumptions at the time the statements are made and are not guarantees of future results. A number of factors, many of which are beyond our control, could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. These factors include, but are not limited to, (1) the credit quality of our loan portfolio, (2) general economic conditions and related material risks and uncertainties in the United States, globally and in our markets and the impact they may have on us and our customers, including the continued impact on our customers from volatility in oil and gas prices as well as the continued impact of the COVID-19 pandemic (and any other pandemic, epidemic or health-related crisis), (3) technological changes, including the increased focus on information technology and cybersecurity and our ability to manage such information systems and the effects of cyber-incidents (including failures, disruptions or security breaches) or those of third-party providers, (4) changes in interest rates and changes in the value of commercial and residential real estate securing our loans, (5) adverse economic or market conditions that could affect the credit quality of our loan portfolio or our operating performance, (6) expectations regarding rates of default and credit losses and the appropriateness of our allowance for credit losses and provision for credit losses, (7) unexpected market conditions, regulatory changes or changes in our credit ratings that could, among other things, cause access to capital market transactions and other sources of funding to become more difficult, (8) the inadequacy of our available funds to meet our obligations, (9) the failure to effectively balance our funding sources with cash demands by depositors and borrowers, (10) material failures of our accounting estimates and risk management processes based on management judgment, (11) failure of our risk management strategies and procedures, including failure or circumvention of our controls, (12) the failure to effectively manage risk, (13) uncertainty regarding the London Interbank Offered Rate and our ability to successfully implement any new interest rate benchmarks, (14) the impact of changing regulatory requirements and legislative changes on our business, (15) the failure to successfully execute our business strategy, including completing planned merger, acquisition or sale transactions, (16) the failure to identify, attract and retain key personnel or the loss of such personnel, (17) increased or more effective competition from banks or other financial service providers in our markets, (18) structural changes in the markets for origination, sale and servicing of residential mortgages, (19) certainty in the pricing of mortgage loans that we purchase, and later sell or securitize, (20) volatility in the market price of our common stock, (21) credit risk resulting from our exposure to counterparties, (22) an increase in the incidence or severity of fraud, illegal payments, security breaches and other illegal acts impacting us, (23) the failure to maintain adequate regulatory capital to support our business, (24) environmental liability or other environmental, social or governance factors that may materially negatively impact the company, (25) severe weather, natural disasters, acts of war or terrorism and other external events and (26) our success at managing the risk and uncertainties involved in the foregoing factors.

These and other factors that could cause results to differ materially from those described in the forward-looking statements, as well as a discussion of the risks and uncertainties that may affect our business, can be found in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and in other filings we make with the Securities and Exchange Commission (the “SEC”). You can access our filings with the SEC through the SEC website at www.sec.gov or through our website, and we strongly encourage you to do so. The information contained in this communication speaks only as of its date. Except to the extent required by applicable law or regulation, we disclaim any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments.

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Now, let's delve into the key concepts mentioned in the provided article:

  1. Texas Capital Bancshares, Inc. (NASDAQ: TCBI):

    • Texas Capital Bancshares, Inc. is the parent company of Texas Capital Bank.
    • Traded on the NASDAQ under the ticker symbol TCBI.
  2. Daniel S. Hoverman:

    • Appointed as Executive Vice President of Texas Capital Bank.
    • Also appointed as Managing Partner and President of TCBI Securities, Inc.
  3. TCBI Securities, Inc.:

    • A newly formed, affiliated broker-dealer by Texas Capital Bank.
    • The bank has initiated the registration process with FINRA, SEC, and state regulatory agencies.
  4. Investment Banking Division:

    • Daniel Hoverman will lead Texas Capital Bank’s Investment Banking Division.
    • The division will expand existing syndications, equipment finance, hedging, asset-based loan, and related businesses.
  5. Services and Solutions Offered:

    • Once approved, the Investment Banking Division will offer services including mergers and acquisitions advisory, capital raising, securities underwriting, sales and trading, hedging, and mortgage services.
  6. Daniel Hoverman’s Background:

    • Brings over 20 years of experience in financial and legal roles in investment banking, corporate advisory, and capital markets.
    • Previously served as Managing Director at Regions Bank and Director at Houlihan Lokey.
    • Worked at Credit Suisse, UBS Investment Bank, and Kirkland & Ellis in various financial and legal roles.
  7. Texas Capital Bank's Strategy:

    • Texas Capital Bank is undergoing a transformation.
    • The appointment of Daniel Hoverman is part of the bank's commitment to delivering an enhanced offering of products, services, and solutions.
  8. Strategic Update Call:

    • Executive management will host a conference call and webcast to discuss updates on September 1, 2021, at 4:30 p.m. EDT.
  9. Daniel Hoverman’s Education and Licenses:

    • Holds a BA from Yale University.
    • Earned a JD and an MBA from Columbia University.
    • Holds FINRA Series 7, 24, 63, and 79 licenses.
    • A Chartered Financial Analyst and an inactive member of the New York Bar.
  10. Texas Capital Bancshares, Inc. Overview:

    • A member of the Russell 2000® Index and the S&P MidCap 400®.
    • The parent company of Texas Capital Bank, a commercial bank headquartered in Dallas.
  11. Forward-Looking Statements:

    • The press release includes forward-looking statements about the company’s strategy, performance, financial condition, and business models.
    • Cautionary notes about inherent uncertainties and risks associated with these forward-looking statements.
  12. Regulatory Compliance:

    • Texas Capital Bank is in the process of registering TCBI Securities, Inc. with FINRA, SEC, and state regulatory agencies.

This analysis provides a comprehensive understanding of the key players, strategic moves, and the regulatory landscape in the financial sector, particularly within Texas Capital Bank.

TCBI appoints Daniel Hoverman to lead Investment Banking division. (2024)
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