Texas Capital Names Former Army Secretary Geren to Its Board

Texas Capital Bancshares (TCBI) has added some firepower to its board.

Preston M. "Pete" Geren 3rd, a former U.S. congressman and secretary of the Army, has joined the Dallas bank as a director. Geren had served on the boards of several banks, including Cullen/Frost Bankers (CFR) in San Antonio, so when a recruiter approached him for a seat at the $9 billion-asset Texas Capital, Geren was up for the mission.

"Board service on any publicly traded company has become increasingly demanding and more complex over the last decade" in light of changing regulations, Geren said. "I enjoy doing board work in the financial services area … and consider it to be a great professional challenge to be a part of a leading institution."

He also sits on the board of Anadarko Petroleum Corp. in Houston.

Geren is currently president and chief executive of the Sid W. Richardson Foundation in Fort Worth, Texas. Up until last year, he spent a decade in Virginia serving as the Army secretary, acting secretary of the Air Force and a special assistant to the secretary of Defense.

Before joining the Pentagon in 2001, Geren was an attorney and businessman in Fort Worth. He served in the U.S. House, representing the 12th congressional district of Texas for four terms beginning in 1989.

"We are very excited to have someone of Pete's caliber join the board," Texas Capital's chief executive, George Jones, said in a release. "His experience and insight in government, business and banking makes him a perfect fit for our board and the business and communities we serve."

Texas Capital's 14 other board members have backgrounds in real estate, energy, manufacturing, accounting and private equity.