Texas Capital Bancshares (TCBI) in Dallas has announced its CEO succession plan.

Keith Cargill, 60, will become president and chief executive of the $10 billion-asset company when current chief George Jones, 69, retires at yearend.

Cargill was also named chief executive of the Texas Capital Bank unit and chief operating officer of the parent company, effective immediately.

"Keith and I were co-founders of Texas Capital Bank and have been friends and partners for 35 years," Jones said. "I couldn't be more pleased to have Keith succeed me, and I have every confidence in his ability to lead and grow this company going forward."

Cargill has previously served as Texas Capital's chief operating and chief lending officer.

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