Texas Stock Exchange listing approaches, appoints first Chief Financial Officer
TXSE Group announced the appointment of Jaime Gow as the first Chief Financial Officer of the Texas Stock Exchange, effective June 1, and unveiled the list of 12 founding directors. This move comes ahead of the exchange's planned launch of trading in July, aiming to strengthen the leadership team and boost the competitiveness of U.S. public markets.
At a Glance
- TXSE Group, the Dallas-based parent company of the emerging Texas Stock Exchange, announced Monday via a statement and confirmed by a spokesperson that it has hired Jaime Gow as its first chief financial officer. According to the spokesperson, Gow will officially assume the role on June 1.
- According to Gow's LinkedIn profile, he most recently served as head of finance at Sagent, a Warburg Pincus-backed financial technology company, and previously held several senior roles at mortgage servicer Mr. Cooper from 2019 to 2023, including CFO. His career also includes serving as chief accounting officer at Capital Bank in Miami, Florida.
- The appointment comes as the Texas Stock Exchange simultaneously announced the 12 founding directors of its board. James H. Lee, CEO of TXSE Group and the Texas Stock Exchange, said in a statement: "Jaime and the directors bring additional professional experience and governance capabilities that will help us bring real competition to the U.S. public markets."
Deep Dive
The leadership announcement comes about two months before the exchange plans to launch trading in July. The Dallas Business Journal has jokingly referred to the exchange as "Y'all Street."
According to a TXSE spokesperson, since its founding in 2024, the group's finance and accounting functions have been handled by a "senior team from PricewaterhouseCoopers." Now, "Gow is part of a larger team that is being positioned to bring finance and accounting functions in-house," the spokesperson said.
TXSE has taken other steps to strengthen its leadership, including bringing in executives with traditional exchange experience. In March, the group named Greg Ferrari as chief operating officer; he previously served as head of North American exchange trading at Nasdaq. That same month, the company also hired Liz Hocker, who most recently served as regional head of capital markets at the New York Stock Exchange.
Members of the Texas Stock Exchange's board include Rick Roberts, a former U.S. Securities and Exchange Commission commissioner; Jeff Starr, head of operations services at Charles Schwab; and Anna Kurzrok, head of market structure at Jefferies.
The U.S. Securities and Exchange Commission approved TXSE's Form 1 registration application in September of last year, allowing it to operate as a national securities exchange. The new exchange's mission is to reverse the decline in the number of U.S. listed companies "by reducing the burden of listing and staying listed, while maintaining some of the highest quantitative standards in the industry," according to a statement at the time.
Although one of its core selling points is reducing companies' compliance costs associated with burdensome regulations, according to The Wall Street Journal, those regulations are primarily set by the SEC, not the NYSE or Nasdaq.
TXSE's new CFO took a traditional accounting path to the CFO role. According to his LinkedIn profile, he earned a bachelor's degree in accounting from Florida International University's business school and a master's degree in professional accounting from the University of Miami. Early in his career, he also spent two years at Ernst & Young in Miami.