C. Keith Cargill stepped down as president, CEO and member of the board of directors of Texas Capital Bank and its parent company, Texas Capital Bancshares. Larry L. Helm, who has served as chairman of the Texas Capital Bancshares board since 2012, will serve as executive chair, CEO and president of both companies until a permanent successor is named. Cargill will serve as vice chairman of both companies through the end of 2020 to help support a smooth transition. In addition, James H. Browning, an independent director and member of the Texas Capital Bancshares board since 2009, was appointed lead director.
Texas Capital Bancshares’ board intends to conduct a search process to identify a permanent CEO and continues to be engaged with Egon Zehnder, an executive search firm, as part of the board’s ongoing succession planning process.
Helm has served as a director of the Texas Capital Bancshares board since 2006. He has knowledge of Texas Capital’s strategy, operations and culture, having worked closely with the Texas Capital management team. During his tenure, Helm has provided oversight and counsel to support Texas Capital in driving shareholder value and growth as well as navigating challenging market environments. He brings more than 30 years of commercial banking experience, including management positions at Bank One Corporation, most notably as CEO, Dallas Region and CEO of U.S. middle market banking. In addition, he has executive-level experience with publicly-traded companies, including Halcón Resources and Petrohawk Energy.
“As part of our focus on succession planning, the board believes that it is the right time for a transition in leadership as the company executes a strategy to achieve enhanced operational focus and profitable, long-term value creation,” Elysia Ragusa, chair of the Texas Capital Bancshares governance and nominating committee, said. “We are fortunate to have someone of Larry’s caliber and experience ready to assume the role of executive chair, CEO and president at this important juncture for the company. Larry has worked closely with the entire management team over the last 14 years, gaining a deep understanding of the company’s unique opportunities. We are confident that he is the right person to lead Texas Capital Bank until we have identified a permanent successor for the CEO role.”
“After much deliberation, the board and I have decided that now is the right time for me to step down as president and CEO of Texas Capital Bancshares and Texas Capital Bank,” Cargill said. “It has been one of the greatest honors of my life to be one of the founders of this great company and serve as CEO alongside our exceptional management team and our talented colleagues. Our team has transformed Texas Capital Bank into one the most successful banks in the country that caters to entrepreneurs, business owners, private wealth clients and other loyal individuals.”
“Under Keith’s leadership, the Texas Capital Bank team has built one of the best, fastest-growing business and private wealth banks in the United States,” Helm said. “Through multiple cycles, the company has achieved significant growth by fostering top talent and a culture of integrity, innovation and collaboration, earning and keeping the trust of our clients through exceptional service and meeting the needs of middle-market entrepreneurs. With this strong foundation in place, the team is well positioned to continue executing against the company’s strategic priorities and generate returns for our clients and shareholders.
“On behalf of the entire board, I want to thank Keith for his contributions as CEO and as a founder of Texas Capital Bank. I look forward to working with Keith and our leadership team to ensure a smooth transition for all our stakeholders, particularly as we navigate the current impact presented by the global pandemic. We wish Keith the very best in his future endeavors.”