The Texas Stock Exchange has named its inaugural board of directors and appointed Jaime Gow as chief financial officer, according to a May 18 press release. The news comes as the upstart exchange based in Dallas builds out leadership ahead of a broader push to compete for U.S. IPOs.
In a statement Monday, founder and CEO James H. Lee said the appointments provide “institutional validation” of the exchange’s mission to make public markets more attractive to issuers. The board will provide independent oversight of strategy and long-term growth as TXSE continues developing its trading platform and issuer base.
The move comes as competition among exchanges is increasingly extending beyond traditional places like New York City. The New York Stock Exchange announced plans in 2025 to launch NYSE Texas, a fully electronic equities exchange based in Dallas, highlighting Texas’ and the South’s growing role in capital markets and the race to attract listings.
Texas has also emerged as a broader draw for financial firms and corporate headquarters. Both the Nasdaq and the NYSE have expanded their presence in Dallas in recent years, as companies are drawn by lower taxes, a growing business base, growing talent hubs and proximity to large corporate issuers. These factors are positioning the region as a major hub for financial services activity.
Against that backdrop, TXSE’s board includes executives from across legacy capital market institutions, with representation from firms such as Jefferies, Charles Schwab, Jane Street and Piper Sandler, along with a former commissioner of the U.S. Securities and Exchange Commission.
Gow joins TXSE Group, the exchange’s parent company, from loan servicer Sagent, where he served as CFO overseeing finance, treasury, tax and accounting functions tied to a platform supporting $2.5 trillion in unpaid principal balance and more than 16 million loans. According to his LinkedIn profile, he previously held multiple senior finance roles at Mr. Cooper Group, including CFO, where he oversaw a $3.3 billion revenue base and led teams of more than 250.
As TXSE approaches two years since its founding, the exchange said it has built a modern trading platform, recruited leadership from major exchanges, banks and trading firms, and secured commitments for future listings, positioning itself as a new entrant aiming to introduce greater competition into U.S. public markets.
While “Y’all Street’s” newest exchange builds out its platform to attract listings, the effort will depend in part on how companies navigate the transition to public ownership. Finance leaders with experience taking companies public describe the process as requiring changes across operations, reporting and internal controls, along with a greater emphasis on financial discipline.
“Going through an IPO process is kind of like going through a growth spurt. It’s exciting, but it can sometimes be painful,” said Amy Butte, who served as CFO of NYSE during its 2005 public listing, in a 2024 interview with CFO.com. She added that companies are often pushed to operate faster and with greater financial discipline as they prepare for the public markets. “I believe companies are better companies when they go through the maturation process necessary to be a public company.”
