Texas Capital Bancshares, Inc. Appoints Daniel Hoverman to Lead Investment Banking Division – Yahoo Finance
DALLAS, Sept. 01, 2021 (GLOBE NEWSWIRE) — 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.
Related Quotes
Shares of Texas Capital Bancshares (NASDAQ: TCBI) had fallen roughly 10% as of 11:30 a.m. EDT after the company announced an updated strategic plan. Texas Capital, a $35 billion asset regional bank based in Dallas, announced a new strategic plan yesterday that will see the bank focus more on technology, bulk up hiring, invest further in treasury solutions, build on its private wealth business, and create a new investment banking division. In tandem with the announcement, the bank also announced the hiring of Daniel Hoverman to lead the new investment banking division.
Shares of MongoDB (NASDAQ: MDB) were skyrocketing Friday after the cloud-based database specialist outperformed Wall Street's expectations on both the top and bottom lines in its fiscal second quarter and offered better-than-expected guidance. In its fiscal second quarter, which ended July 31, revenue at MongoDB rose 44% to $198.7 million, ahead of estimates at $184.2 million. Growth was once again driven by Atlas, the company's fully managed cloud database, which saw sales jump 83% and made up 56% of total revenue in the period.
Yahoo Finance Live talks with noted investor Cathie Wood of Ark Invest about her top investment ideas. Wood continues to be very bullish on the outlook for Tesla.
PIMCO founder sees yields rising to the point that bond funds are "new contenders for the investment garbage can."
An analyst's price target upgrade and a healthy cryptocurrency market make for a strong end to the stock's week.
As the pandemic took over global consciousness, companies pursuing vaccines became the stars of the stock market. Moderna (NASDAQ: MRNA) and Pfizer (NYSE: PFE), along with its partner BioNTech (NASDAQ: BNTX), were the first to have jabs authorized by the Food and Drug Administration. It's no secret that the COVID-19 vaccines have brought riches to the companies first to receive authorization.
In this article, we will be taking a look at 10 high yield monthly REIT Dividend Stocks to buy. To skip our detailed analysis of dividend investing, you can go directly to see the 5 High Yield Monthly REIT Dividend Stocks to Buy. After the outbreak of the coronavirus pandemic, came the closure of businesses, […]
Led by Steel Dynamics, CROX stock and DOCU stock are also among today's fastest-growing stocks expecting up to 747% growth in Q3.
The Chinese tech giant follows in the footsteps of Tencent and Pinduoduo in pledging vast sums of cash to initiatives in its home country.
A Solana price surge Friday sent it to a new high and put its market value above Dogecoin's, making SOL the seventh biggest cryptocurrency.
Under previous CEO Randall Stephenson, AT&T (NYSE: T) took on massive debt to build an entertainment empire. AT&T's stock price dropped after the company announced its WarnerMedia division would combine with Discovery to form a new entertainment entity, and the deal would impact AT&T's high-yield dividend.
ARK Invest's Cathie Wood joined Yahoo Finance Live for an exclusive interview to discuss her market outlook, crypto, and the rise of the retail investor.
The market for electric vehicles is expected to grow rapidly, and this company plans to keep playing a big role in powering them up.
In this article, we discuss the 15 stocks Michael Burry is selling. If you want to skip our detailed analysis of these stocks, go directly to Michael Burry Is Selling These 5 Stocks. Hedge fund managers famous for their short-selling exploits have had an eventful few months, especially in the context of the rise of […]
Hundreds of Chinese companies are listed on U.S. markets. But which are the best Chinese stocks to buy or watch right now? Weibo, Sohu, Nio, BYD Co. and Li Auto. China is the world's most-populous nation and the second-largest economy with a booming urban middle class and amazing entrepreneurial activity.
The immediate narrative was obvious—growth is slowing, the job market is stagnating, and the recovery just isn’t happening quickly enough. “As such, our recommendation is a barbell of defensive quality with financials to participate and protect in either scenario, which appear equally likely to occur.”
When Social Security benefits increase by an estimated 6% next year to keep pace with rampant inflation, the larger payments may come with a significant caveat for some beneficiaries. The historic jump in Social Security’s annual Cost of Living Adjustment … Continue reading → The post How Massive COLA Increase Could Actually Eat Into Your Social Security appeared first on SmartAsset Blog.
Is NVAX stock a buy or a sell after crumbling on another delay for its Covid vaccine? Here's what to know about Novavax stock.
The market is littered with biotech stocks whose prices have fallen by more than half since the start of the year. The list of big losers is long and, for biotech investors, more than a bit painful. The fallen stocks include established mid-cap biotech names like bluebird bio (ticker: BLUE), now down 57.7% on the year; Acadia Pharmaceuticals (ACAD), down 66.9%; and AbCellera Biologics (ABCL), down 57.9%.
A recent Bloomberg report said some regulators are weighing further action against the bank for its slow progress related to the phony-accounts scandal.
