New leadership now is in place for one of the primary capital providers for buy-here, pay-here dealers
This week, Texas Capital Bancshares, the parent company of Texas Capital Bank, announced that Rob Holmes has been appointed chief executive officer, president and a member of the board of directors of both companies, effective Jan. 24.
Holmes will succeed Larry Helm, who has served as executive chair, CEO and president since May. The bank said Helm will step down as CEO and president on Jan. 24 and continue as executive chair of the board for up to 90 days to facilitate a smooth transition of responsibilities.
Helm will then return to his previous role as non-executive chair of the board, according to a news release.
The moves were all triggered five months ago when Texas Capital announced that Keith Cargill had stepped down as president and CEO and a member of the board of directors, effective immediately.
Texas Capital now will be led by Holmes, who has worked for JPMorgan Chase & Co. and its predecessor firms since 1989, most recently serving as global head of corporate client banking and specialized industries since 2011. During that time, he had end-to-end responsibility for the business, providing global treasury management services, credit and investment banking solutions to clients in North America, as well as select countries in Europe and Asia, to achieve their long-term corporate finance objectives.
The bank highlighted Holmes is an experienced leader with strong strategic acumen, a data-driven approach and a demonstrated ability to successfully manage significant market challenges while mitigating risk and delivering top- and bottom-line performance improvement.
Texas Capital also mentioned Holmes spent the better part of 20 years in the corporate and investment bank, where he was responsible for advising clients on strategic alternatives and corporate finance executions in debt and equity markets in the retail and general industrials industries.
“Today’s announcement is the result of a comprehensive search process, and the board and I look forward to welcoming a leader of Rob’s caliber to Texas Capital Bank,” Helm said in the news release. “Rob brings more than 30 years of experience and a proven record of driving innovation, building client relationships, developing talent and fostering a strong culture founded on collaboration, transparency and accountability. We are confident he is the right next leader to further expand our core banking franchise, return to strong earnings growth and drive long-term shareholder value.
“Further, Rob’s commitment to an entrepreneurial mindset and deep Texas roots make him a perfect fit to join the Texas Capital Bank team,” Helm continued. “I would also like to express my appreciation for all our Texas Capital Bank colleagues whose continued support, focus and commitment to meeting clients’ needs has been remarkable, especially during this challenging time.”
Holmes expressed his perspectives on being selected for this position.
“I am honored to join Texas Capital Bank as CEO and lead the company in its strategy for sustainable, long-term value creation. Texas Capital Bank has a unique market position, compelling franchise and world-class team to capture significant growth opportunity with current and potential entrepreneurs, business owners and private wealth clients,” Holmes said.
“I have great respect for Texas Capital Bank’s 21-year history, high-performance culture and position as a leading regional bank. I look forward to working closely with the Board and management team as we capitalize on Texas Capital Bank’s strong foundation and position the company for the future,” he continued.
Egon Zehnder, a leading executive search firm, assisted the board with its CEO search process.
James Browning, lead independent director of the board, described Helm’s performance in recent months, which also included Texas Capital mutually agreeing to terminate a merger agreement with Independent Bank Group, the holding company for Independent Bank.
“On behalf of the board, I want to thank Larry for his extraordinary leadership, dedication and invaluable contributions to Texas Capital Bank as a board member since 2006 and in his most recent roles,” Browning said. “He has done tremendous work over the last several months in response to unprecedented events, including leading efforts to de-risk the company’s portfolio and manage liquidity in response to the impact of the global pandemic while advancing diversity, equity and inclusion efforts consistent with the company’s values.
“We will continue to benefit from his experience as we support a smooth transition for Rob,” Browning went on to say.