Business
Texas Capital Bancshares, Inc. Announces Updated Strategic Plan
Strategy Focused on Building the Flagship Financial Services Firm in Texas, Expanding Offerings and Coverage in the Company’s Dynamic Markets Company to Host
About this update from Texas Capital Bancshares, Inc.
[{"type":"text","content":"Strategy Focused on Building the Flagship Financial Services Firm in Texas, Expanding Offerings and Coverage in the Company’s Dynamic Markets Company to Host Conference Call and Webcast at 4:30 p.m. ET Today DALLAS, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank (“the Bank”), today announced key updates to the Company’s go-forward strategy. Rob C. Holmes, President and CEO, said, “When I joined as CEO in January, I committed to formulating a detailed go-forward strategy for Texas Capital Bank. The strategic plan we are announcing today represents the culmination of more than seven months of work, including detailed reviews of each business line, our operating model, investment spend and our overall strategy to ensure Texas Capital Bank is best positioned to serve clients, remain a meaningful partner in our communities and capitalize on the significant opportunities ahead. We are already making clear progress executing on our enterprise-wide transformation — from the bank we are today into a true financial services firm, fully equipped to partner with our clients to meaningfully contribute to their success.” The new strategic plan includes the following key steps Texas Capital Bank is taking to build a technology-enabled operating model: Organizing Around Client Delivery and Investing in Technology Expanding industry specialization and local market coverage such that approximately 40% of potential commercial and industrial (C&I) clients in the Company’s core markets will be served within an industry vertical.Strategically allocating technology spend between owned and third-party platforms, focused on enabling its forward-looking goals, while simultaneously building scale and reinforcing the peer-leading client experience that distinguishes Texas Capital Bank from competitors.Pursuing one of the most aggressive hiring plans in the Company’s history to more than double the number of client-facing professionals across the state by 2025.Remaining focused on speed and responsiveness, high-touch service, valued advice, and local decision-making, and extending focus in core C&I markets to serve clients through the entirety of their lifecycle, with a delivery model and solution set tailored to support them at each step of their journey. Expanding Products and Ser...