Texas Capital Bancshares Appoints Jay Clingman as Vice Chairman of Commercial Banking

Rhea-AI Summary

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) has appointed Jay Clingman as Vice Chairman of Commercial Banking, effective November 15, 2021. Clingman, a Texas banking veteran with over three decades at JPMorgan Chase, will work to enhance strategy and identify growth opportunities across Commercial Banking at Texas Capital Bank. CEO Rob C. Holmes highlighted the importance of Clingman’s experience in executing the bank’s strategic vision, particularly in expanding its focus on commercial and industrial markets.

Positive

• Appointment of Jay Clingman as Vice Chairman of Commercial Banking expected to enhance strategic operations.
• Clingman's extensive experience at JPMorgan Chase may drive growth opportunities in regional markets.
• Focus on commercial and industrial markets aligns with the bank's strategic business plan.

Negative

• Potential continuity concerns as new leadership transitions occur within the bank.

DALLAS, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank (“the Bank”), today announced that Jay Clingman has been appointed to the newly created role of Vice Chairman of Commercial Banking, effective November 15, 2021. Mr. Clingman will report to President and Chief Executive Officer Rob C. Holmes and serve on the Bank’s Operating Committee.

Mr. Clingman is a Texas banking veteran having served at JPMorgan Chase & Co. for over three decades in key regional markets across the state, most recently as Managing Director for Middle Market Banking in North Texas and Oklahoma. As Vice Chairman of Commercial Banking at Texas Capital Bank, Mr. Clingman will work closely with all areas of Commercial Banking, including Corporate, Middle Market, and Business Banking to drive strategy, increase visibility, and identify growth opportunities across its regional markets.

“I am pleased to welcome Jay to our growing team at Texas Capital Bank as his experience will be invaluable in the execution of our strategic vision,” said Mr. Holmes. “Extending our focus in C&I markets is a key pillar of our business plan and is aligned with Jay’s knowledge and expertise. He will be instrumental as we continue to create customized solutions for our clients and will help drive results for their respective businesses.”

“I am excited to join the strong team Rob has put into place during a pivotal time in the Bank’s history,” said Mr. Clingman. “As Texas Capital continues on the journey of a firm-wide transformation, I look forward to helping deliver on the commitments made.”

About Jay Clingman
Mr. Clingman most recently served at JPMorgan Chase & Co. for over three decades in various leadership roles, primarily within Texas. Among others, he served as Managing Director and Region Manager of Middle Market Banking for North Texas and Oklahoma from 2013 to 2021 where he led efforts to bring investment banking, credit, and treasury solutions to private and public companies. He held a similar role from 2004 to 2013 as Managing Director and Region Head for San Antonio and South Texas. From 2000 to 2004, he was Managing Director of the Private Bank responsible for all private banking efforts in San Antonio, Austin, and Houston. From 1995 to 2000 he was responsible for leading statewide efforts for Capital Markets selling fixed income securities to companies and high net worth individuals. Mr. Clingman has a long history of serving on many not-for-profit boards in the Dallas and San Antonio areas. Currently he sits on the Klyde Warren Park Board in Dallas and the Briscoe Western Art Museum in San Antonio.

Mr. Clingman received a Bachelor of Business Administration in Finance from Texas A&M University and a Master of Business Administration from University of Texas-San Antonio. Mr. Clingman is FINRA Series 63, 24 and 79 certified.

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.

FAQ

Who is Jay Clingman and what is his role at Texas Capital Bank?

Jay Clingman is appointed as Vice Chairman of Commercial Banking at Texas Capital Bank, where he will focus on strategy and growth opportunities.

When does Jay Clingman's appointment take effect?

His appointment takes effect on November 15, 2021.

How does Clingman’s experience benefit Texas Capital Bank?

Clingman's extensive banking experience is expected to enhance the bank's strategic vision and expand its commercial market focus.

What are the implications of this management change for Texas Capital Bancshares?

This change may lead to new growth opportunities and a renewed focus on commercial and industrial markets within the bank.