TBA touts Lone Star State’s economy and role of Texas banks in London
The election of socialist Zohran Mamdani as Mayor of New York City has started a debate about whether Gotham can remain the financial capital of the world. TBA weighed in on the debate as TBA Chairman Ron Butler and a banker delegation hosted the third Texas Bankers Global Forum in London to promote the state’s economy as a global power and the role that Texas banks play in its success.
“It’s hard to remain a financial capital when you despise capitalism,” said TBA’s Chris Furlow in The Telegraph, a London media outlet that featured an article entitled, “Escape from New York: Bankers flee Mamdani for Texas.”
In remarks to open a series of panel discussions hosted at Chatham House, Ron Butler promoted investment and relationships in Texas. He said the secret to Texas’ success is not just attributed to the growing presence of major banks and financial firms, but “the most vibrant community and mid-size banks in America — totaling nearly $1 trillion in assets.”
“Whether you are an investment executive in Dallas, an energy industry leader in Houston, a small business owner on the border or a rancher in Quitaque, every level of our economy is served by a banker who knows them and their market,” he said.
TBA continued to make the case for Texas investment in a panel dubbed “Texas on the Global Stage.” Vic Pierson and Wes Hoskins discussed the pro-business environment and the importance of our banks to critical sectors such as transportation and energy. Meanwhile, Jeff Karcher, global managing director for the Texas Stock Exchange, discussed the business climate that has given rise to the world’s newest and most well-capitalized exchange ever launched.
TBA explored other topics as well, including combating international cyber and fraud threats in a meeting with the Head of Cybersecurity at the Bank of England.
The delegation hosted a panel featuring Visa’s Managing Director for Ireland and UK to discuss the impact of global stablecoins and digital asset policy on banks and card interchange.
And there was a conversation with UK Parliamentarians that featured starkly different views on digital asset policies, highlighting the importance of not just educating U.S. policymakers but international leaders on the potential for crypto disruption of traditional banks.
A discussion was held about global risk and potential impacts to an industry of great importance to Texas bankers: the energy sector. George Robertson, a member of the House of Lords, 10th NATO Secretary General and U.S. Medal of Freedom recipient, shared his perspectives on the Ukraine-Russia war and fragile peace in the Middle East.
Current Member of Parliament and former UK Security Minister Tom Tugendhat spoke to the delegation about concerns related to Chinese economic, technological and military strategy.
A special thanks to our TBA community banker delegation and our guests, including Jeff Karcher from TXSE and Texas Mortgage Bankers CEO Scott Norman, for representing Texas so well. You were truly world-class!