Texas Capital Bancshares, Inc. Announces Executive Leadership Appointments
Texas Capital Bank announces executive appointments to strengthen leadership and drive long-term strategy. Nancy McDonnell becomes Executive Vice President, Head of Treasury Services, bringing 30 years of experience from JPMorgan Chase. Tim Storms is appointed Executive Vice President, Head of Risk Transformation, with nearly 38 years in risk management at JPMorgan. Both executives will report to CEO Rob C. Holmes and aim to enhance the company’s operations and shareholder value while navigating a challenging market.
- Appointment of Nancy McDonnell as EVP, Head of Treasury Services, adds experienced leadership to treasury operations.
- Tim Storms' appointment as EVP, Head of Risk Transformation enhances risk management strategy.
- Experienced leadership team expected to drive shareholder value and strategic growth.
- None.
Nancy McDonnell Named Executive Vice President, Head of Treasury Services
Tim Storms Named Executive Vice President, Head of Risk Transformation
DALLAS, Jan. 25, 2021 (GLOBE NEWSWIRE) -- Texas Capital Bank, N.A., and its parent company Texas Capital Bancshares, Inc. (NASDAQ: TCBI), collectively referred to herein as “Texas Capital Bank,” today announced executive leadership appointments, effective immediately, to enhance the Company’s depth of talent and support long-term strategy development.
Nancy McDonnell has been appointed to the newly created position of Executive Vice President, Head of Treasury Services. In this role, Ms. McDonnell will lead all aspects of Texas Capital Bank’s treasury and liquidity businesses. Ms. McDonnell brings three decades of senior leadership experience, having served as Global Head of Commercial Banking Treasury & Security Services and other senior client roles at JPMorgan Chase & Co. until she retired in 2020. She brings a diverse and well-rounded skill set and subject matter expertise that will support Texas Capital Bank in managing top client and prospect opportunities, training treasury management officers and bolstering an innovative, solutions-focused organization.
Tim Storms has been appointed to the newly created position of Executive Vice President, Head of Risk Transformation. Mr. Storms will provide strategic support to our risk management team including John Turpen, Chief Risk Officer. Mr. Storms worked at JPMorgan Chase & Co. and its predecessor firms for nearly 38 years, serving as Chief Credit Officer of Commercial Banking and most recently serving as Chief Risk Officer of Commercial Banking’s Real Estate businesses, until he retired in 2019. In his new role, Mr. Storms will be focused on maintaining an effective control environment for all Texas Capital Bank risk while reinforcing strong practices and discipline across the organization.
Both Ms. McDonnell and Mr. Storms will report directly to Rob C. Holmes, President and Chief Executive Officer of Texas Capital Bank.
“I am pleased to welcome two strong executives, of impeccable character, each of whom brings decades of experience and records of demonstrated success across global platforms,” said Rob C. Holmes, President and Chief Executive Officer of Texas Capital Bank. “I am confident that we will benefit from their expertise and leadership as we begin our deep dive into Texas Capital Bank’s operations and identify our most significant opportunities in this next chapter for the Company. We are all energized and are ready to learn more about this organization and begin building a strategy that will achieve our long-term goal of returning the Company to strong, predictable earnings growth and driving shareholder value while delivering an enhanced experience to our clients.”
“This is an exciting time to be a part of Texas Capital Bank and join a team that is committed to providing important treasury and liquidity management services to a diverse and evolving client base,” said Ms. McDonnell. “Texas Capital Bank plays a critical role in providing innovative solutions as well as treasury management services to clients navigating this challenging period and beyond. The team will work with Rob and the rest of Texas Capital Bank’s leadership as we continue to advance the organization.”
“I am honored to join Texas Capital Bank at this pivotal time for the Company,” said Mr. Storms. “I believe in the mission of Texas Capital Bank to support our clients, as well as the communities we serve. I look forward to working closely with Chief Risk Officer John Turpen, the risk and compliance teams and the entire organization to further hone the Company’s strategic approach to risk management. Together, I am confident that we can ensure best–in-class risk management across all our products and services in this increasingly complex environment while building a solid foundation for future growth and value creation.”
“Over the last two years, our team has made substantial progress in upgrading Texas Capital Bank’s risk management system,” said Mr. Turpen. “Tim brings unmatched risk and compliance acumen and a commitment to talent development, and I look forward to working with Tim as we continue to execute on our journey to building a resilient and scalable business.”
About Nancy McDonnell
Ms. McDonnell served at JPMorgan Chase & Co. from 1988 to 2020. Over the past three decades, she has held a variety of senior leadership roles including having served as the Global Head of Commercial Banking Treasury & Security Services for nine years. She previously served as Head of Sales for Treasury Services for clients in middle market, healthcare, real estate and the public sector for all domestic markets and other senior client roles. Prior to joining JPMorgan Chase & Co., McDonnell served as Vice President for Bank of America Dallas. She currently serves as Treasurer for the Women’s Council of the Dallas Arboretum and as a Board Member for Wesley Rankin Community Center, a 501(c)(3) Faith Based Organization serving West Dallas.
Ms. McDonnell received a Bachelor of Business Administration from Texas Tech University.
About Tim Storms
Mr. Storms served JPMorgan Chase & Co. from 1981 to 2019, most recently serving as Chief Risk Officer of Commercial Banking’s Real Estate businesses from 2015 to 2019. Prior to that position he held several key executive positions including: Chief Credit Officer of Commercial Banking as well as head of Risk Management for corporate clients and real estate across North America for Investment Banking. Mr. Storms was also a member of a number of committees, including the Risk Operating Committee of Investment Banking and Commercial Banking.
Mr. Storms received a Master of Business Administration in Corporate Finance from Columbia University and a Bachelor of Arts degree in Economics and Psychology from Wesleyan University - CT.
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. Headquartered in Dallas, the bank has full-service locations in Austin, Dallas, Fort Worth, Houston and San Antonio. Member FDIC.
Forward Looking Statements
This communication may be deemed to include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding our financial condition, results of operations, business plans and future performance of Texas Capital Bancshares, Inc. These statements are not historical in nature and can generally be identified by such words as “believe,” “expect,” “estimate,” “anticipate,” “plan,” “may,” “will,” “forecast,” “could,” “projects,” “intend” and similar expressions. Because forward-looking statements relate to future results and occurrences, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. 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 risks and uncertainties include, but are not limited to, the credit quality of our loan portfolio, general economic conditions in the United States and in our markets, including the continued impact on our customers from volatility in oil and gas prices, the material risks and uncertainties for the U.S. and world economies, and for our business, resulting from the COVID-19 pandemic, expectations regarding rates of default and loan losses, volatility in the mortgage industry, our business strategies, and our expectations about future financial performance, future growth and earnings, the appropriateness of our allowance for loan losses and provision for credit losses, the impact of changing regulatory requirements and legislative changes on our business, increased competition, interest rate risk, new lines of business, new product or service offerings and new technologies. 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 information contained in this communication speaks only as of its date. Except to the extent required by applicable law or regulation, Texas Capital Bancshares, Inc. disclaims 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.
INVESTOR CONTACT
Jamie Britton, 214.932.6721
Jamie.Britton@texascapitalbank.com
MEDIA CONTACT
Shannon Wherry, 469.399.8527
shannon.wherry@texascapitalbank.com
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