MAY 2 02 1
FINANCIAL
E XECUTIVE AWAR DS PLUS:
CEO
The Top M&A Deals and Dealmakers
David and Ann Sutherland have profoundly reshaped the luxury home goods industry. Here’s how.
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MAY 2021
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Congratulations
Miguel Molina Avocados From Mexico is proud to congratulate our CFO Miguel Molina who has been recognized as a finalist in the D CEO Financial Executive Awards for 2021. We celebrate his futuristic vision, his passion for the technology that moves us forward, his assertiveness that secures our progress, and the kind of leadership that breaks the mold. But more than anything, we celebrate our friend, his unwavering loyalty to his Avocados From Mexico family and his selfless and open enthusiasm for our collective success. That’s what true leaders are made of. Miguel, keep shining and spreading the magic of Mexicanity!
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Join Dallas’ Most Influential Business Leaders Nominations are now open for D CEO’s 2022 edition of Dallas 500, 500, our annual publication featuring the most powerful business leaders in North Texas. Don’t miss this opportunity to be considered for this prestigious special edition.
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ELEVATING THE CHAMPIONS OF FREE ENTERPRISE
Built by entrepreneurs for entrepreneurs, Texas Security Bank invests more resources in Business Education for Owner Managed Businesses than other banks. Visit our website to learn more about our monthly speaker series and year-long executive leadership program, the TSB Academy. Congratulations to our EVP & CFO, Drew Keith, for being recognized as a finalist for D CEO’s 2021 Financial Executive Awards. Thank you for your hard work and leading the team to funding almost $350 million in PPP loans and counting, which has transformed the lives of many business owners throughout North Texas.
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On behalf of the Caregiver Executive Team and Board of Directors Congratulations Gary on your nomination! We are so proud of your accomplishments and look forward to all your great work to come. At Caregiver, we are guided by a mission to enable people with intellectual and developmental disabilities to lead their unique lives with dignity, independence, and inclusion. Respect for an individual’s abilities is the foundation of our work. We provide intermediate, home, and community care services in innovative and loving environments to thousands of individuals through our affiliates in Texas, Tennessee, Indiana, Ohio, and Georgia.
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Thank You to Our Generous Sponsors Presenting Sponsor Newpark by Hoque Global, Lanoha Real Estate, and KDC Pinnacle Sponsors AT&T Headington Companies Parks for Downtown Dallas
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CONTENTS M AY 2 0 2 1
VO LU M E 1 6 | I S S U E 0 4
30 The Art of Style
36
Fifteen Years of D CEO A look back at the top North Texas business stories of the last decade-and-a-half, and the leaders behind them. story by CHRISTINE PEREZ
Ann and David Sutherland, two (happily married) Dallas entrepreneurs, have built a multimillion-dollar empire— and transformed the outdoor furniture industry. story by CHRISTINE ALLISON portraits by ELIZABETH LAVIN
42 The Human Dynamics of Deals Mergers and acquisitions are all about the numbers. But there are real people behind the negotiations, and for some, the transactions are life-changing. story by WILL MADDOX photography by ALEXANDER CRISPIN
44 P H OTO G R A P H Y BY B I L LY S U R F A C E
Money Matters
Elaine Agather of JPMorgan Chase
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CFOs and other financial executives were forced to compete on a constantly changing playing field in 2020. We honor outstanding professionals who came out on top. story by KELSEY J. VANDERSCHOOT
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CONTENTS
89 16 EDITOR’S NOTE
DOSSIER 1 9 YO U N E E D T O K N O W
Nico Leone, KERA 22 MEET THE 500
Courtney Marcus of Weil, Gotshal & Manges 22 FRESH IDEAS
Allie+Bess 2 6 T E C H N O LO GY
REV Robotics
88
2 8 O N T H E TA B L E
Andre Gray, Moody Nolan
FIELD NOTES Allen Gump, Colliers International 5 6 R E A L E S TAT E
Redevelopers Amanda MorenoLake and Jim Lake Jr. are playing real-life monopoly in Oak Cliff.
92 58 ON TOPIC
Kelvin A. Baggett of McKesson Corp., Jo Trizila of TrizCom, and Bradley Williams of Elephant Oil & Gas on making DFW even better.
22
T H E R A H R S BY S E A N B E R R Y, P E R PA L L BY J A K E M E Y E R S , F R E S H I D E A S : A L L I E + B E S S , T R AV E L : P U N T A M I T A , E N D M A R K : M A R I A N O M A R T I N E Z J R .
55 LESSON LEARNED
60 THOUGHT LEADER
Wellness expert Sheila Jackson on strategies for reducing stress.
OFF DUTY 8 3 G R E AT E R G O O D
Fritz Rahr, Rahr & Sons Brewing Co. 86 STYLE
Sarah Snetzer, Sadiant Health 86 SNAPSHOT
Brendan McGuire, PNC Bank FINANCIAL
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E XECUTIVE AWAR DS PLUS:
CEO
88
8 8 W E L L T R AV E L E D : P U N TA D E M I TA , M E X I C O
The Top M&A Deals and Dealmakers
Will Coleman, Alto 90 ROOTS
Fred Perpall, The Beck Group 92 END MARK
David and Ann Sutherland have profoundly reshaped the luxury home goods industry. Here’s how.
ON THE
COVER: David and Ann Sutherland, photographed in their home in Preston Hollow by Elizabeth Lavin.
Mariano Martinez Jr.
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4/12/21 2:00 PM
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P U B L I S H E R Gillea Allison EDITORIAL EDITOR Christine Perez MANAGING EDITOR Will Maddox ONLINE MANAGING EDITOR Bianca R. Montes ASSOCIATE EDITOR Kelsey J. Vanderschoot CONTRIBUTING WRITERS Richard Alm, W. Michael Cox EDITORIAL INTERNS Ellie Beeck, Maria Hieber, Mariah Terry, Chance Townsend
ART DESIGN DIRECTOR Hamilton Hedrick STAFF PHOTOGRAPHER Elizabeth Lavin DIGITAL ART DIRECTOR Emily Olson
A DV E R T I S I N G ADVERTISING DIRECTOR Rhett Taylor ASSOCIATE PUBLISHER OF PROFESSIONAL SERVICES Kym Rock Davidson SENIOR ACCOUNT EXECUTIVES Cami Burke, Haley Muse MANAGING EDITOR OF SPECIAL SECTIONS Jennifer Sander Hayes DIGITAL REVENUE DIRECTOR Tracy Albertson DIGITAL AD OPERATIONS MANAGER Riley Hill CLIENT OPERATIONS MANAGER Palmer McGraw SALES MARKETING MANAGER Rachel Schoellkopf
AT THE HEART OF LEADERSHIP
MARKETING & EVENTS MARKETING DIRECTOR Gigi Ekstrom BRAND MANAGER Carly Mann EVENTS DIRECTOR Bethany Kempfe ADVERTISING ART DIRECTOR Katie Garza BRAND INTERN Jillian Verzwyvelt
AU D I E N C E D E V E LO P M E N T
Barnes & Thornburg congratulates its own Ashley Deweese on being named to the 2021 D Magazine Best Lawyers Under 40 list and for receiving the 2020 Heart of CREW Award from the Commercial Real Estate Women (CREW) Dallas chapter for her significant contributions. Ashley’s commercial real estate and corporate practice includes deep experience representing buyers, sellers, developers, borrowers, investors, landlords and tenants in nationwide real estate transactions. What Ashley enjoys most is leveraging her broad network to connect like-minded individuals to create and successfully close these deals.
Uncommon Value
DIRECTOR Amanda Hammer COORDINATOR Sarah South DATA ENTRY SPECIALIST Jae Chung RETAIL STRATEGY MANAGER Steve Crabb MERCHANDISER David Truesdell AUDIENCE DEVELOPMENT INTERN Mia Solheim
PRODUCTION DIRECTOR John Gay MANAGER Pamela Ashby PHOTO RETOUCHER Natalie Goff
BUSINESS CONTROLLER Debbie Travis ACCOUNTING MANAGER Sabrina LaTorre STAFF ACCOUNTANT Lesley Killen IT TECHNICIAN Luan Aliji
WEB EDITORIAL DIRECTOR Matt Goodman
MAIL 750 N. Saint Paul St., Ste. 2100, Dallas, TX 75201 The magazine assumes no responsibility for the return of unsolicited manuscripts. WEBSITE www.dmagazine.com/publications/d-ceo MAIN OFFICE 214-939-3636 ADVERTISING 214-939-3636 x 128 REPRINTS 214-939-3636 SUBSCRIPTION SERVICES For immediate assistance, call 214-939-3636 x 232. For other inquiries, e-mail customerservice@dmagazine.us. SUBSCRIPTIONS 11 issues for $54 in the United States, possessions, APO and FPO; $70 per 11 issues elsewhere. Please provide old and new addresses and enclose latest mailing label when inquiring about your subscription. For custom publishing inquiries, call 214-540-0113.
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ATLANTA CALIFORNIA CHICAGO DELAWARE INDIANA MICHIGAN MINNEAPOLIS NEW YORK OHIO RALEIGH SALT LAKE CITY TEXAS WASHINGTON, D.C.
EDITOR-IN-CHIEF AND CEO Christine Allison PRESIDENT Gillea Allison CHIEF FINANCIAL OFFICER Thomas L. Earnshaw CHIEF OF STAFF Rachel Gill FOUNDER Wick Allison
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Texas’ #1 place to start a business
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LETTER FROM THE EDITOR
A Recent History of Business in Dallas
PLAN. RETIRE. ENJOY.
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in pulling together a feature marking the 15-year anniversary of D CEO (page 36), I’ve spent the past month or so reading all 144 issues published since May 2006. (In good times, we produced 12 issues a year. In more trying times, we published eight.) It was a fascinating look at how quickly things have changed. This was especially apparent in reports involving technology. One of the first issues of the magazine, initially called Dallas CEO, featured a story on risks executives like Mark Cuban face when blogging (lol). The YouTube phenomenon was covered in May 2008, and a look at CEO cell phone apps and who-follows-who on Twitter came a year later. In 2010, we did a story on pioneering moves in co-working and one on AT&T’s bet on broadband TV. It was interesting to see how much D CEO has changed, too. Early editions included things like executive matchmaking ads and some commentary that was borderline sexist. And for far too long, the magazine was overwhelmingly male and white, providing a limited view of the true North Texas business community. In his first editor’s note, our beloved founder, the late, great Wick Allison, wrote about his decision to expand the platform of D Magazine, which he launched in 1974, with a business publication. Acknowledging a glut of local and national media competitors, he wrote of his mission to connect executives in Dallas—both to each other and to the city. It’s gratifying to see how D CEO has thrived, blossoming into a business media platform that includes online news verticals, the Dallas 500, other special publications, and a collection of thought leadership events. I have to think that none of this was surprising to Wick. In the last line of that first editor’s note, he wrote: “We’re from Dallas. We found that nobody ever died from thinking big.” Note: If you’d like to take your own trip down memory lane, you can access all issues of D CEO going back to 2006 at dmagazine. com/publications.
Christine Perez Editor
Solutions is not affiliated with Kestra IS or Kestra AS.
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4/12/21 10:42 AM
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SE A DC V TE IROTNI SNE A MM EE NT
ASK THE EXPERT
Persuasion Skills, Part 1: The Rule of Threes R O G G E D U N N , PA R T N E R , R O G G E D U N N G R O U P
Whether you are a C-level exec, a senior manager, doctor, lawyer, or salesperson—essentially you are making multiple sales pitches every day. Whether you’re trying to motivate an employee, sell goods or services to a customer, obtain funding from a PE firm, or persuade your spouse to do something they don’t want to do, persuasion skills are essential. This is the first in a series of articles on how to sharpen your persuasive techniques in business and your personal life. What is the Rule of Threes? When persuading people in general, and in your legal dispute in particular, use the Rule of Threes to present your arguments. The technique uses three words, images, or concepts that combine brevity, simplicity, and cadence to create a memorable message.
chill’s four words of “blood, toil, tears, and sweat” to the more persuasive “blood, sweat, and tears,” a name adopted by a popular 1970s rock band. Storytellers, Playwrights, and Screenwriters Use the Rule Storytellers create three-part structures: the beginning, middle, and end as noted in Aristotle’s Poetics. Effective film titles use threes, such as “The Good, The Bad, and The Ugly,” “Three Billboards Outside Ebbing Missouri,” “The Three Amigos,” “Sex, Lies, and Videotape,” and “Cat on a Hot Tin Roof.”
Compare Using the Rule to Stating a Conclusion You could say someone’s request is unreasonable or, you could say, “They want the sun, the moon, and the stars.” It’s obvious which argument is more effective. Psychological studies show that people are Rules of Threes, much more likely to remember a message when they Recognized 2,500 Years Ago must think through it and process it. Telling someIf you doubt the power of the Rule of Threes, conone a conclusion is less effective, because nobody sider that its effectiveness was recognized 2,500 likes being told what to think. Conversely, when you lead someone to a conyears ago by prominent Greek philosophers, politiclusion, that requires additional processing in cians, and orators. The Rule is so effective that the their brain resulting in two phenomenon. First, concept became a Roman truism: omne trium perpeople who process the message are more likely fectum (everything that comes in threes is perfect). More recently, Martin Luther King Jr. used the to remember it and, second, think the conclusion Rule frequently. King’s Non-Violence and Racial Juswas their idea. What ideas do we like the best? The tice speech juxtaposed two Rule of Threes: “insult, ones we think we think of ourselves. Not only does this proinjustice, and exploitation” as well as “justice, good will, cessing increase message and brotherhood.” The Decretention, studies also inlaration of Independence dicate that someone who uses “life, liberty, and the processed a message and pursuit of happiness.” The believes they thought of the persuasiveness of the Rule conclusion themselves is far 500 N. Akard Street, Suite 1900 is illustrated by reducing the more likely to advocate for Dallas, Texas 75201 that conclusion. great orator Winston Chur214.888.5000 | info@roggedunngroup.com
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ROGGE DUNN represents companies, executives, and entrepreneurs in business and employment matters. These include the CEOs/presidents of American Airlines, Baker Hughes, Beck Group, Blucora, Crow Holdings, Dave & Busters, Gold’s Gym, Halliburton Energy Services, Kinko’s, Texas Motor Speedway, Steak ‘n Shake, SunEdison, Texas Capital Bancshares, Texas Tech University, Tuesday Morning, and Whataburger. Corporate clients include Adecco, Beal Bank, Benihana, CBRE, Cintas, DuraServ, Match.com, Rent-A-Center, and Outback Steakhouse. Dunn was recognized as one of the Dallas 500 in 2021 by D CEO. He has been honored as a Texas Super Lawyer every year that award has been given and named to the Super Lawyers’ list as one of the top 100 attorneys in Texas by Thomson Reuters Service and a D Magazine Best Lawyer 11 times. Dunn is one of only approximately 25 attorneys in Texas Board Certified in both Civil Trial Law and Labor and Employment Law.
DCEOMAGAZINE.COM
4/12/21 11:16 AM
M AY 2 0 2 1
DOSSIER TRENDS
to
WATC H
a n d
NORTH TEXAS NEWSMAKERS
YOU NEED TO KNOW
Nico Leone Brings A Strong Track Record of Success to KERA The NPR and PBS exec aims to build consumer trust and expand public media’s reach.
P H OTO G R A P H Y C O U R T E S Y O F K E R A
story by WILL MADDOX
DCEOMAGAZINE.COM
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KERA By the Numbers ANNUAL BUDGET: $27 million TOTAL WEEKLY AUDIENCE: 2 million+ KERA TV AUDIENCE: 1.2 million households each month KERA 90.1 FM AUDIENCE: 634,000 monthly listeners KXT 91.7 FM AUDIENCE: 435,000 monthly listeners KERA ONLINE AUDIENCE: 5.2 million visitors from 235 countries/territories in 2020
KERA Milestones 1960 KERA Channel 13 goes on air with educational children’s programs 1974 90.1 FM debuts, serving North Texas a mix of news and music 2000 90.1 FM shifts focus to news and information only 2009 91.7 KXT FM launches with an adult album alternative (AAA) format
SOURCE: N I E L S E N M E D I A
T
fact-based journalism, and collaborate with other outlets. The company’s nonprofit model and public media’s civility allow KERA to avoid sensationalism and responsibly report across ideological differences. “We’ve carved out a space that is conversational, civil, and respectful,” Leone says. “Even as we cover really difficult issues from a variety of perspectives.” He studied communications at Baylor, ran a music radio station in St. Louis, and was the general manager of KCUR—the public radio affiliate in Kansas City—before moving to Dallas. During his time at KCUR, the size of its newsroom and community financial support for the station more than doubled, its digital audience tripled, and its the future of audio media has never broadcast audience grew by 35 percent. Leone been brighter—or more threatened. There has has similar hopes for KERA; he aims to continue never been more quality audio content, with growing its audience and revenue during the lean endless podcasts and radio programming in times brought on by the pandemic. He also wants every niche, appealing to every passion. At the to concentrate on stories that reach deeply into same time, competing technology is giving concommunities and issues. “We’ve tried to put a big sumers more video options, from streaming focus on that—the ability to meet people where to virtual reality, pushing them to put down they are—and to push ourselves to reflect the their headphones and turn on their screens. community we serve,” he says. Nico Leone began his tenure as president and Leone is moved and encouraged by the feedCEO at KERA—North Texas’ National Public back he has received thus far. “You get a sense Radio and Public Broadcasting Station affiliof how we’ve been able to provide connectedates—during this shifting market landscape. ness at a time when a lot of He arrived in February 2020, people have felt a very real just weeks before the pandemsense of isolation.” One lisic upended the station’s oper“WE’VE CARVED tener told him, “KERA was ations and refocused the news OUT A SPACE THAT my lifeline. It’s how I stayed it covered. Although condiIS ... CIVIL AND connected to the world while tions were less than ideal, LeRESPECTFUL.” I was in the hospital.” one made the most of starting The media exec looks fora new post in a new city. NICO LEONE ward to the day when things “It’s not something the manKERA can inch toward normalcy, agement team here, or anyallowing him to get to know where else, had a playbook for,” his new home. In a world of opportunities and he says. “That gave us an opportunity to do a lot of threats, he sees an expanding future for KERA listening and have a lot of conversations with staff in whatever the new normal becomes. “The thing to hear their concerns and priorities.” about audio, in particular, is that it just wraps Despite metrics suggesting consumer trust in around the rest of your life,” he says. “What media is nearing all-time lows, Leone embraces makes it distinct is your ability to listen while you his role in this top-five media market, seeing the do almost anything else.” station as a way to serve the community, provide
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DOSSIER
FRESH IDEAS
Making a Bold Statement MEET THE 500
COURTNEY MARCUS
elevating vulcanized heishi beads, made by Ghanaian artisans, is the million-dollar idea behind a local jewelry line launched by Allie Wardlaw (former occupational therapist) and Bess Callarman (former speech pathologist). Its success, though, is grounded in the duo’s unconventional choice to not focus on influencers but turn the lens on themselves. “An influencer will take a product and morph their story to promote that product. What we’re doing is a little different—we have a product, and we are taking our story to create that narrative of what our product is,” Callarman says. The approach has paid off. During the height of the pandemic, Allie+Bess went from a $100 investment to more than $1 million in sales. The brand has expanded its product line beyond its signature colorful, stackable bracelets to include earrings and a Coke tabinspired necklace. “It symbolizes celebration, happiness, and good times,” Callarman says. She and Wardlaw aim to expand their directto-consumer brand to the Midwest and West Coast markets this year. —Bianca R. Montes
Co-Managing Partner WEIL , GOTSHAL & MANGES
along with serving as co-managing partner of Weil’s Dallas office, Courtney Marcus is a partner in its banking and finance practice and a member of its firmwide management committee. A consummate dealmaker, she helps private equity firms, public and private companies, and other investors execute a wide variety of financial transactions. Clients include Centerbridge Partners, AMC Entertainment, WPX Energy, The Sterling Group, and EP Energy Corp. EDUCATION: St. Mary’s University (JD), Vanderbilt University (BA) BIRTHPLACE: San Antonio FIRST JOB: “I was a camp counselor and swimming instructor for preschool-aged boys. I learned the art of multitasking, which has served me well.” ADVICE FOR AN 18-YEAR-OLD ME: “Be authentic. Making professional connections is no different than making any other kind of friend. Sharing your personal and professional goals with others will help get you there.” TOUGHEST CHALLENGE: “The war on talent places an even greater emphasis on the importance of people in a service business. We
have incredibly talented attorneys and staff at Weil, so we’re the first stop for many firms entering the Dallas market. Combatting the external hiring pressure on our people and maintaining our firm culture are things I think about daily.” WHAT I LOVE: “I collect picture frames. I love being surrounded by photographs of special moments.” NONPROFIT CAUSE: “I’m passionate about ballet. Texas Ballet Theater, the resident professional ballet company for the Winspear Opera House and Bass Performance Hall, is one of the jewels of our region.”
FUN FACT: “I’m a tomboy. I grew up bird hunting and saltwater fishing with my father. Getting outdoors is definitely the way I recharge.” FAVORITE MOVIE: “It’s too hard to pick one. I always watch The Shawshank Redemption, Almost Famous, The Holiday, Pretty Woman, and Something’s Gotta Give, if they’re on.” DESTINATIONS OF CHOICE: “My favorite places have sandy beaches and salty air. I’m as happy in Port Aransas as I am anywhere fancier.” LAST MEAL: “I’d have a vodka martini straight up with three olives, prime rib mediumrare, a double-stuffed potato, and grilled asparagus, with dark chocolate ice cream to finish.” BUCKET LIST: “I’d like to jump out of an airplane (with a parachute).”
SCARY MOMENT: “Crawling through the pitch-black Cu Chi Tunnels in Vietnam was pretty scary.”
M A R C U S BY J A K E M E Y E R S ; A L L I E + B E S S C O U R T E S Y O F A L L I E + B E S S
Former medical professionals Allie Wardlaw and Bess Callarman turned their hobby into a million-dollar jewelry line.
HIDDEN MESSAGE
Allie+Bess bracelets feature five vinyl black beads, representing the co-founders’ five children.
This Q&A is extended content from Dallas 500, a special edition produced by D CEO that profiles the region’s most influential business leaders. Visit www.dallas500.com for details.
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Innovation in Pediatric Orthopedics DA N I E L J . S U CAT O, M . D. , M . S . , C H I E F O F S TA F F, S C O T T I S H R I T E F O R C H I L D R E N
For the past 100 years, North Texas has been home to one of the world’s hubs for medical innovation: Scottish Rite for Children. The caregivers at Scottish Rite see some of the most complex pediatric orthopedic cases around the globe, while also making breakthrough discoveries about these conditions and developing leading-edge technologies to treat them. We sat down with Scottish Rite’s chief of staff, Daniel J. Sucato, M.D., M.S., to learn more about how Scottish Rite is celebrating its centennial year. How can the last 100 years at Scottish Rite best be summed up, and what’s next? Scottish Rite’s story began in a one-room clinic, where renowned orthopedic surgeon W. B. Carrell, M.D., treated children with polio free of charge. As the clinic grew, doctors and Texas Masons came together to charter a hospital to treat all in need regardless of a family’s ability to pay. Since then, Scottish Rite has evolved into a burgeoning institution, specializing in a complete range of pediatric orthopedic conditions. To date, our scientists and clinicians have been awarded more than 50 patents on revolutionary medical devices and are leading hundreds of active patient-oriented projects – from discovery to clinical trials – aimed at better care, treatment, and cures for patients. Today, Scottish Rite continues to redefine the science of healing muscles, joints, and bones, paving the way for 100 more years of discovery, innovation, and care. U.S. News & World Report ranks Scottish Rite, in collaboration with Children’s Medical Center Dallas and our pediatric orthopedic colleagues at UT Southwestern, the top pediatric orthopedic program in the state and surrounding region. In 2013 and 2014, the program ranked No. 1 in the country, and we continue to be ranked in the top five each year.
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How does Scottish Rite remain at the forefront of pediatric orthopedics? Scottish Rite has made significant strides in revolutionizing treatment options for our patients. Each year, our team conducts and publishes research to help children around the world reach their boundless potential. We currently have over 280 active research studies. This field continually evolves. There is still so much to learn, especially because of the ways COVID-19 has impacted our daily lives. This past year, our researchers have studied our bodies’ response to change during the global health crisis, from the impact of social distancing on physical activity to the challenges and benefits of online learning for students with dyslexia. These studies aim to help us understand how the community can cope with the lasting impacts of the pandemic. What are some unique aspects about Scottish Rite that contribute to its incredible impact on patient care? Advancements like these enable our caregivers to provide the very best care for children, regardless of their family’s ability to pay. We take a multidisciplinary approach to patient care that tailors treatment to the individual needs of each child and family. World-class physicians; leadingedge treatments; state-of-the-art facilities; and sharing knowledge with the research community through publications, conferences, fellowships, and partnerships allows other providers around the world to have access to these discoveries. To celebrate Scottish Rite’s breakthroughs and advancements over the past century, and to learn how to get involved, visit scottishrite100.org.
DANIEL J. SUCATO, M.D., M.S., is the chief of staff at Scottish Rite for Children and the director of the organization’s Center for Excellence in Spine Research. Specializing in scoliosis and spine and hip disorders, he is also a professor of orthopedic surgery at UT Southwestern Medical Center. Dr. Sucato received his medical degree (magna cum laude) and a master of science degree in biophysics from the School of Medicine, State University of New York at Buffalo. Dr. Sucato is widely published in the area of spinal deformity. He has received several honors and awards and has delivered dozens of presentations worldwide. Dr. Sucato is a fellow of the American Academy of Orthopaedic Surgeons and a member of the Texas Orthopaedic Association, American Medical Association, Texas Medical Association, Scoliosis Research Society Education Council, and Pediatric Orthopaedic Society of North America. He is also the vice president of the Pediatric Orthopaedic Society of North America.
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DOSSIER
I N N OVAT O R S
story by
ELLIE BEECK
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robot battles are heating up at schools across THE COMPANY the country, and a Carrollton company is riding the wave. SELLS PARTS TO Co-founded in 2014 by Greg Needel and David Yanoshak, MORE THAN 10,000 REV Robotics makes parts used in the competition bots, SCHOOL PROGRAMS, from gearboxes and roller chains to cables and sensors. INCLUDING DISD. The company has been on the front lines of the expanding field, a market that’s now valued at $1.3 billion but, according to global research firm Markets and Markets is projected to double in size to $2.6 billion in the next five years, as schools continue to emphasize STEM-focused curriculums. Beyond profits, REV Robotics’ low-cost parts champion accessibility for future generations. “Our goal from the beginning was always about trying to lower the barrier of entry for any student who wants access to robotics, technology, and STEM,” Needel says. REV sells parts to more than 10,000 school robotics programs, including Dallas Independent School District, reaching more than 100,000 students each year. It recently was selected as the official hardware partner for the nonprofit FIRST Global Challenge, supplying all 192 participating countries in the international Olympics-style youth competition with robot parts. “There are a lot of countries that have determined that technology and robotics because it’s so multidisciplinary, is a great way to leapfrog their economies,” Needel says. Prior to co-founding REV, he worked as a mechanical engineer and director of the Innovation Gymnasium at Southern Methodist University’s Lyle School of Engineering; Yanoshak was an electrical engineer for Texas Instruments. Both also have experience as mentors for educational robotics programs, which is how they became aware of the market gap for high-performance, low-cost robot parts. “A lot of our brainstorming for new products comes from problems that we’ve experienced,” Yanoshak says. By optimizing design and pulling from product manufacturing methods Needel learned while earning his degree at Rochester Institute of Technology, the pair are able to produce products at a lower cost. “When we approach this problem of trying to reduce cost but still create innovative things that teams want to use, we take a ‘design for manufacturer’ approach,” Yanoshak says. STEM Being based in North Texas has primed SUPPORT REV for global growth. “Dallas checks a lot REV aims to lower barriers of the boxes from an infrastructure standof entry for students who point,” Needel says. “It’s a good shipping want access to hub and a good international travel hub.” robotics.
P H OTO G R A P H Y C O U R T E S Y O F R E V R O B O T I C S
Battle of the Bots: REV Robotics’ Greg Needel and David Yanoshak lead a $1.3 billion market niche.
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Moody Nolan’s Andre Gray Aims to Open Doors He runs the emerging Dallas office of the country’s largest Black-owned architecture firm.
we
story by BIANCA R. MONTES illustration by JAKE MEYERS
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can
often
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our childhood. Such is the case for Andre Gray, an architect with Moody Nolan. Gray grew up in the suburbs of St. Louis, where neighbors believed in the adage, “It takes a village to raise a child.” At the top of the hill was his mother, single and raising three children. Then, there was the home that had the mom who was the best cook. But the house that left the greatest impression on a young Gray was the one where his friend’s father hammered away at different furniture restoration projects. “Smelling the turpentines and varnishes—that resonated with me,” Gray tells me as we settle into our chairs at The Yard House in Addison—one of the first restaurants he visited after moving to the area. As I consider mirroring his order, the spicy jambalaya, he tells me how calculus caused him to switch majors from engineering to architecture at Kansas State University, and how he ended up moving to Texas in 2013 to help launch a Dallas office for Columbus, Ohio-based Moody Nolan, the nation’s largest Black-owned architecture firm. To keep it short, the St. Louis economy was suffering, and Gray was laid off from his post at an architecture firm. After toying with the idea of attending culinary school, he reached out to a college buddy who was opening a Dallas outpost for Moody Nolan—and moved here six weeks later. Shifting from his early work designing theme
park attractions for Busch Gardens, he focused on higher education and healthcare. Notable projects include Parkland Health and Hospital System’s Mike A. Myers Skybridge and the University of North Texas Student Center in southern Dallas. Gray, who was named head of the Dallas office in 2018, is leading an expansion into aviation after teaming up with Merchant Aviation, a renowned planner based in New Jersey, and landing a fiveyear master plan contract with Dallas-Fort Worth International Airport. Moody Nolan was recently honored with the 2021 Architecture Firm Award from the American Institute of Architects, and the Dallas office was selected for the Kay Bailey Hutchinson expansion renovation. Gray says the combined wins will open a lot of doors for the Dallas branch. “It’s about getting breaks—let’s face it,” he says. “You just have to seize those opportunities.” Gray is in charge of developing design criteria for the work Moody Nolan will be doing at the airport. Although nondisclosure agreements prevent him from revealing specifics, he was recently involved with the demolition and rebuild of gates on the southern end of Terminal C. For Gray, doing aviation-related work is a dream. “If I had to do it again, I would probably be a pilot in the Navy,” he says. His father, whom he idolized, was in the military, and later held an executive post at aerospace giant McDonnell Douglas. Needless to say, Gray spent a lot of time during his youth hanging out with his father on the airfield. He says it is an excellent time for Moody Nolan to make its mark on Dallas-Fort Worth—and to return the favor, whether it’s by supporting underserved sectors in the region or small and minority-owned businesses. “We have had breaks. We have had people open doors for us,” Gray says. “It’s a mindset of paying it forward.”
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4/12/21 1:33 PM
Business can’t stand still.
Let’s get moving At Baker Tilly, we develop a deep understanding of your business to give you a distinct advantage in the marketplace. And while we couldn’t possibly cover the details of everything here, we would love to get to know you and demonstrate how the work we put in today equates to the success you’ll enjoy in the future. It’s called now, for tomorrow. At Baker Tilly, it’s simply how we do business.
advisory. tax. assurance. | bakertilly.com Baker Tilly US, LLP trading as Baker Tilly is a member of the global network of Baker Tilly International Ltd., the members of which are separate and independent legal entities. © 2020 Baker Tilly US, LLP.
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Ann and David Sutherland, with their dog Duke, in their Preston Hollow home.
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The Art of Style Ann and David Sutherland, two (happily married) Dallas entrepreneurs, have built a multimillion-dollar empire— and transformed the outdoor furniture industry. story by CHRISTINE
ALLISON
portrait by ELIZABETH
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The 1970s and ’80s were an unfortunate period for outdoor furniture: curly, cast-iron garden tables and chairs, oversized wicker sectionals, and those webbed aluminum chairs that millennials in Brooklyn now buy to be ironic. That’s why the ’90s signaled such an important design refresh. Knoll developed outdoor lines. Classic Adirondack chairs were popular. And in Dallas, David Sutherland was creating sleek and stylish outdoor furniture in teak with John Hutton, the storied designer who built his reputation as design director of the luxury brand Donghia. The same John Hutton whom The New York Times described as a “national treasure.” Sutherland came to Texas by way of Oklahoma, where he graduated from The University of Oklahoma with a degree in marketing and business and petroleum land management. Like no one else in the history of oil and gas ever, he decided he’d rather sell luxury furniture to interior designers. He started out with a stint at E.C. Dicken, a respected showroom in the Dallas Design District, and went on to establish his own showrooms in Houston and then back in Dallas, thereafter the company’s international headquarters.
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Pieces stacked in an early manufacturing facility. Far right: John, Ann, and David with Jack Craig, their first agent in Indonesia.
He partnered with Hutton in 1991. Both men wanted to create outdoor furniture that looked like … furniture. But Hutton had a day job. A rather substantial day job, as design director of Donghia. He would need a nod from his employer to embark on the project. Sutherland flew to New York and presented Donghia’s president, Michael Sorrentino, with the vision. It was a good meeting. Sorrentino agreed to loan out Hutton, with the single request that the line be sold at Donghia’s six prestigious showrooms. A few years after, with the outdoor furniture line well underway, a self-assured, interior designer from Oklahoma City named Ann Moore walked into the David Sutherland showroom looking for fabric for a client. “I certainly wasn’t looking for a guy,” she says. “I was done on that front.” David’s daughter, who was working the front desk, had other ideas. She rushed to her father’s office and said, “Dad, you have to meet Ann.” In the unlikely event that he had been wearing a tie, David might have straightened it. He strolled into the showroom, made some small talk, and asked Ann to join him for lunch at the Quadrangle. David also invited Ann to join him for the rest of his life, but that came later. In 1994, the two headed to San Francisco Design Center to meet Hutton for the launch of the outdoor furniture collection. “I wasn’t exactly sure what I was supposed to do,” Ann recalls. “But I’m not one to just stand there, so I jumped in, talked to clients, and promoted the line. Before I knew it, I was traveling the world with David and John to all of the other market centers, and we were doing business together.” The trio worked on designs, created prototypes in Indonesia, and market-tested their new concepts. “We had so much fun. We called ourselves the three musketeers,” David says. Fun was the operative word, an element Part of the debut outdoor furniture that Ann insisted should be at the core of all of their enterprises. collection with John Fun, but ... they were also perfectionists. “John’s outdoor designs Hutton, a designer who has been were really Donghia with no clothes on, so they had to be perfect,” called an “inventive David says. “He was the kind of guy who could see a quarter-ofclassicist.”
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an-inch across a room.” The line received rave reviews, and orders flooded in. But the musketeers were not satisfied. “The cushions were black, and we wanted colors from the garden,” Ann says. The only outdoor fabric in the marketplace was the stiff, coated material used for awnings and boats, and the colorways had the range of an eight-pack of Crayolas. Without the right fabrics, outdoor furniture would always be “less than.” a s i q u i c k ly learned via Zoom interviews, David and Ann Sutherland are not the kind who do “less than.” They had to get the right fabric. “Everything we’ve ever done was out of need,” David says. “It helps that we’ve made moves even when we had no idea what we were doing. We needed beautiful outdoor fabric. It was that simple.” Perhaps not that simple. David asked Ann if she would create a new line of high-performance outdoor textiles in a wide range of colors and with a good feel. “Our fabrics should be welcoming,” he says. “They have to be beautiful and high-performance or none of this will work.” Ann, remember, was an interior designer, and knew squat about textile development
Major Milestones
John and David pose for a pic while sightseeing in Indonesia.
David and Ann Sutherland’s enterprise is composed of three synergistic companies. Here’s how the operation has grown through the years.
1978
David Sutherland’s first showroom opens in Houston, followed by a showroom in Dallas, which becomes the company’s new home base.
1994
Sutherland disrupts the outdoor furniture market, collaborating with John Hutton on a 35-piece line. Ann joins the duo, and the odyssey begins.
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1997
Just months after marrying, David and Ann introduce Perennials, another Hutton collaboration; it has a seismic impact on the outdoor fabric market.
1999
The company makes a big push to the West Coast when its Los Angeles showroom opens. It expands in 2004 and grows again 10 years later.
2005
New showrooms open in the prestigious Design & Decoration Building in New York and the Design Center of the Americas in Dania Beach, Florida.
2008
Perennials Textiles de Mexico begins manufacturing in San Luis. The state-of-the-art plant allows for a rapid increase in production.
2013
Building on its furniture textile success, Perennials Rugs is established, expanding the brand and making waves in the luxury performance flooring industry.
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The disruption was not confined to Perennials fabric options. “What Perennials did was essentially give every house an extra room,” David says. “It meant your outdoor room could be just as beautiful as anything you might have indoors. It was another room for designers to create, and for their clients to enjoy.” Perennials fabrics are now specified by designers not just for outdoor furniture, but residential furniture, contract furniture (hotels and commercial spaces), and childproof furniture—indoors and out. The textiles are as chic as they are resistant to red wine stains and kids with Sharpies. The success has led Ann to segue into manufacturing rug designs in flatweave, Tibetan knot, drop stitch, and chenille flatweave. David believes the rug lines may become the dominant source of revenue going forward. t h e t r a d e - o n ly design market has always been for the sturdy of heart, and the people who own and run showrooms and manufacture luxury products, as well as their clientele—interior designers and architects—are design obsessives. Where you and I see a hallway, they see light, space, textures, lines, and colors. They operate at the intersection of art and commerce, where it’s arguably twice as hard to make money than other business segments and is certainly not recession-proof. But if you are called to make beautiful things, you don’t have a choice. When David met Ann, they shared that obsession, and 27 years later, they have almost 200 employees working at Sutherland/Perennials showrooms in Dallas, Houston, Los Angeles, San Francisco, Atlanta, Chicago, New York City, Dania Beach, Laguna Beach, Washington, D.C., London, Munich, and Mumbai. Their next showroom opening will be in New Delhi, and they have eyes on Germany and Belgium. The Sutherlands have manufacturing and storage facilities in Mexico, employing 270 people, and India, with 470 employees. Ann’s insistence that the business always contains an element of fun might in part account for their remarkable, relentless growth, and surely it provides a clue to the “why” of their brand reputation. Their
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and manufacturing. But she not only took on the challenge, she doubled down, telling David, “I’ll develop it, run it, I’ll put up cash, and we’ll split things 50/50.” (In recalling the moment, she wonders: “Someone explain why I didn’t insist on 51 percent.”) Ann sunk her savings into the enterprise and didn’t look back. It was Ann who, with David’s support, developed the sophisticated, impossible-to-destroy fabric line Perennials, the 100-percent-solution-dyed acrylic fiber outdoor fabric that is now synonymous with outdoor textiles. The fabric was released in March 1997, just a few months after Ann and David married. The first colorways were inspired by a pair of Hutton’s pajamas: pistachio, moss-noir, and blue moss. High-performance fabric is now part of the international design lexicon. And the manufacturing chain that Ann developed is, to the uninitiated, a mind-boggle: Perennials fabrics begin as pure liquid, which is made into fibers, at which point color is infused. Then the fibers, sometimes in whole bales, are sent to the spinners, who spin them into yarn, which is then woven into fabrics and, now, rugs. Different suppliers have custody of the product during each step of the process. It’s a heavy logistical effort. (I say give Ann 51 percent.) After several instances of two steps forward, one step back, Perennials was ready for market. Although David describes their approach as “evolutionary, not revolutionary,” Perennials created a seismic disruption in the interior design industry, years before there were hundreds of business books on “disruption.”
David and Ann Sutherland, left, with their design partner and close friend, the late John Hutton.
Major Milestones The last five years have been marked by tremendous growth, sparked by—and attracting—capital infusions from two private equity firms.
2016
To help continue their rapid growth trajectory, the Sutherlands align with Acacia Partners, a private equity firm based in Austin.
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2017
Sutherland Perennials Studio opens in London’s Chelsea Harbour Design Center, giving it access to UK clientele and the international design community.
2018
With support from the U.S. India Chamber of Commerce, Perennials Textiles India opens for rug production in the village of Manjusar in Gujarat.
2019
Impressed by Sutherland LLC’s compelling growth and market position, Bertram Capital acquires Acacia Partners’ stake in the company.
2021
Sutherland opens a showroom in Mumbai. Next up is New Delhi, with plans for new showrooms in Germany and Belgium also in the works.
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“What Perennials did was essentially give every house an extra room. It meant your outdoor room could be just as beautiful as anything you might have indoors.” DAVI D S U TH E R L A N D
in-house marketing team, like the fabrics and the furniture and the people who create and sell them, projects the Sutherland and Perennials brands with a tongue-in-cheek attitude about the design industry in general. “This isn’t brain surgery,” Ann says. “We like to build stories around our collections and give personality to our fabrics.” The crew has ritual naming meetings, which may involve tequila. A recently released collection of soft to the touch fabrics, for example, is called “No Hard Feelings.” Under their Luxe for Less category, a shutter pattern is “Shutter to Think;” a fish theme is “Holy Mackerel;” a net repeat is “Nothing but Net;” a leaf theme is “Leaf Me to It;” and a mesh pattern is “Mesh Around.” The company’s internal and external branding is seamless. Over the years, the Sutherlands could have walked away with their winnings at various points, but they always chose to keep going. David is now chairman (which means, as he puts it, he gets to “interrupt meetings, lob a grenade, and walk off ”), and Ann runs the entire, sprawling international company as CEO. One of their greatest assets (beyond the manufacturing and storage facilities, inventory, high-level staffers, and creative prowess) is their devotion to their clients: interior designers and architects, and vice versa. When David starts to speak about the interior
design community, find a comfortable chair. He adores them. It’s that obsession with beauty thing. (Sutherland and Perennials are sold to the trade only, meaning only interior designers and architects can purchase their product lines on behalf of their clients. They also have a partnership with Restoration Hardware, which sells direct to consumer). The Sutherlands’ devotion to their clientele has earned worldwide loyalty and allowed for investor-fueled expansion. The couple is now working with their second PE partner, Bertram Capital, out of California. David and Ann hold a minority position but retain autonomy. They are looking toward succession and eventually securing a strategic partner, as they build a staff of leaders who can continue their pace of illimitable invention and profitability. How has the pandemic affected their business? “We’ve been fortunate,” David says. “People are stuck at home, looking around, and they want improvements. Our business has been very strong.” Has the business operation changed at all? “Well, we did have one employee move, and I didn’t even know it,” David says. “People can work from anywhere, but that one caught me off-guard,” he chuckles. Another staffer, a rug designer, said she wanted to travel around the country in an Airstream and work remotely. “I thought that was a great idea, and saw an opportunity,” David says. “We helped fund her, gave her samples, and asked her to make stops to see clients and drop by market centers with our new collections. It has really worked well.” Sounds like fun.
A rectangular table and chair set that’s part of Sutherland Furniture’s 2020 Plateau collection, designed by Bonetti-Kozerski.
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“We met with scores of CEOs while planning this magazine, and their biggest complaint was a feeling of being disconnected, a loss of a sense of place. They wanted to know how the local economy is doing. They wanted to know about the new ideas and innovations percolating around town. Most of all, they wanted to know about each other.” Wick Allison, May 2006
FIFTEEN YEARS A look back at some of the top D CEO stories of the last decade-and-a-half, and the leaders behind them. story by CHRISTINE
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PEREZ
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RON KIRK,
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“ N E V E R TO L E R AT E d i s c r i m i n a t i o n . I ’ V E S E E N I T , I ’ V E H E A R D I T , a n d I ’ V E F E LT I T . I k n o w i t i s t o x i c t o p e o p l e o n e i t h e r s i d e .”
2006 MAY 2006. Texas Instruments
said no to overseas labor and placed its bet on building a radical, sustainable plant just down the road in Richardson. “TI-ers love a challenge, and this was certainly no exception,” said CEO Rich Templeton. “It was a team effort and a team win.”
JUNE 2007. Comerica’s corporate headquarters relocation to Dallas spells big things for the company, the city, and the state of banking. “Thirty percent of the population is projected to be in three states by 2030, and Texas happens to be one of those states,” said CEO Ralph Babb Jr. “It’s our opinion that population growth is going to dictate economic growth.”
that wasn’t the main point. This move opened doors—big, heavy sealed doors marked ‘Private.’” FEBRUARY 2008. Mayor Tom
Leppert brings a bottom-line perspective and a knack for collaboration to Dallas City Hall. “I don’t think we’ve communicated on the [Trinity River Project] as well as we should have,” he said. “The world changes rapidly; we ought
to strike while the iron is hot and create a sense of urgency.” JUNE 2008. Straight-shooting oilman Boone Pickens has made billions betting on the future. Now he’s turning his attention to alternative energy. “I don’t go looking for somewhere to spend my money,” Pickens said. “You can step on a tube of toothpaste for a week, if you have to.”
JUNE 2006. Dallas Cowboys
owner Jerry Jones and his Blue Star Land real estate firm want Prosper to be the next Frisco— only better. “We’re in this for the very long haul. And because of the amount of acreage we have, we can do it right in terms of how we masterplan it,” Jones said. “We’re well-capitalized, and we have good ideas.” AUGUST 2006. Swiss native Gabriel Barbier-Mueller’s greatest masterpiece may be his Azure residential tower in Uptown. “I used to complain about Dallas,” the developer said. “Then I just decided I was going to do something about it. I am determined to transform the whole of Uptown into walkable space.” 2007 JANUARY 2007. In three years, CEO Michael Jordan and COO Ron Rittenmeyer have led the charge to right the ship at EDS. Here’s how they did it. “I wanted to get underneath both the operational aspects in terms of execution, in terms of how flawless that execution was,” Rittenmeyer said. “Culture underpins all those things.”
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DECEMBER 2007. Can a
mild-mannered bean counter take a carrier co-founded by wild man Herb Kelleher to the next level? Gary C. Kelly and Southwest Airlines are banking on it. “Becoming CEO wasn’t an aspiration that I had,” Kelly said. “But my background has me very well prepared for my management duties. I guess everybody gets lucky once in a while.” 2008 JANUARY 2008: Pro-Line Corp.’s Comer Cottrell achieved success in Dallas and helped change the city. “Buying into the Texas Rangers partnership was a shrewd business move,” Cottrell said. “The ownership group made a tidy profit when the team was sold at the end of the 1990s, but
Jerry Jones was named CEO of the Year for 2017. Below, Hatco chief and former rodeo star Ricky Bolin, May 2019.
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Left: ReelFX added to Elizabeth Lavin’s shots of CEO Steve O’Brien, May 2013. Below: 2019 CEO of the Year Steve Demetriou, Jacobs.
property market. “Anyone who tells you they have a crystal ball is not being truthful,” said Tim Terrell of Stream Realty Partners. “Be prepared for a bumpy ride.” OCTOBER 2010. Mary Kay
CEO David Holl aims to double revenue by revving up his sales force, expanding in international markets, and taking the cosmetics giant online. “When I was in graduate school, not once did I think I would be working for a cosmetics company,” Holl said. “It took me until I got here before I realized the opportunity that I stepped into.” SEPTEMBER/ OCTOBER 2009. In high-dol-
lar fundraising, Super Bowl LXV chief Bill Lively says the right people need to do the asking. And he’s the one who picks them. 2010 JANUARY/FEBRUARY 2010. JULY 2008. Banker Elaine Agather is riding high after weathering a string of corporate mergers. “9/11—that you can cry about,” said Agather, chair of the Dallas region for JPMorgan Chase. “I want people who can handle the market falling and not fall apart themselves.” 2009 APRIL 2009. More hotel rooms, more exhibition space.
THE PLATFORM What began 15 years ago as a monthly magazine has grown into a business media group under the D Magazine Partners umbrella.
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That’s what Dallas CVB boss Phillip Jones says Dallas needs to be competitive. But some are questioning whether Jones has the right answers—or if he’s even the right man for the job. JULY/AUGUST 2009. EY’s En-
trepreneur Of The Year finalists include Lew Kling of Flowserve. “People at the bottom of an organization will tell you what the problems are,” he said, “but no one ever asks them.”
2006
Wick Allison, who created D Magazine in 1974, launches his first business publication, Dallas CEO.
2011
D CEO Real Estate makes its debut. The news site has 90 contributing editors and a weekly e-newsletter.
Dallas’ iconic Neiman Marcus is struggling to adjust to retail’s new norms. “There is a relationship between luxury and the performance of capital markets,” said consultant Howard Davidowitz. “My own forecast is that luxury will be half of what it was. We’re simply not a country generating the kind of wealth we used to.”
2011 JANUARY/FEBRUARY 2011 .
Commanding and charismatic, Charlotte Jones is a little-known, but indispensable, factor in the Dallas Cowboys’ business success. “A lot of people go into the family business and end up working for their fathers,” Jones said. “We all kind of began at the same level. All we had to do was try to do our best not to mess up.”
MARCH/APRIL 2010. With the economy less than stellar, creative tenants are striking some great deals in the commercial
2012
D CEO Healthcare, another online vertical, is launched. It includes a daily e-newsletter and a series of events.
2014
A special publication, D CEO Real Estate Annual, is introduced, with a ticker of the year’s top deals.
2016
The Dallas 500, with profiles of the most powerful and influential leaders in North Texas, makes its debut.
2020
D CEO Healthcare Annual is launched, expanding coverage of the $52 billion industry.
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“It’s the ENTREPRENEURIAL SPIRIT. Optimistic, can-do, low-tax, l o w - r e g u l a t i o n , s e l f - r e l i a n t , s e l f - s u f f i c i e n t — t h a t ’ s t h e T E X A S C U LT U R E .”
MAY/JUNE 2011. After buying the Texas Rangers, owners Nolan Ryan, Bob Simpson, and Ray Davis deep-sixed their new CEO, Chuck Greenberg. Ryan was said to have told the ownership group, “I did not sign on for this,” referring to management and chemistry clashes with Greenberg.
NOVEMBER 2012. Harlan Crow transformed a run-down, historical hospital campus into a stunning corporate park. “I care much more about what we’re building than I do the economics,” said Crow. “I don’t want to say it’s my swan song, but Old Parkland is a very big deal to me.”
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Dallas’ Larry Lacerte runs a successful technology company while fighting for his life. “There are a lot of people who work harder their whole lives than I have and without the success,” Lacerte said. “It’s a combination of hard work, recognizing good ideas, luck, and timing.”
WONDER WOMEN meet five of the most powerful female executives in dallas
FOOD
W W W. D M A G A Z I N E . C O M
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Elaine Agather JPMorgan Chase Bank
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PETER BRODSKY’S CRUSADE TO SAVE SOUTHERN DALLAS
NEW KIDS ON THE BLOCK
NEXT BIG THING RANDY DEWITT PUTS HIS MONEY ON FOOD HALLS
GAME PLAN
Victor Almeida
The CEO of Interceramic divides his time between Texas and Mexico.
HOW ONE LOCAL COMPANY IS REINVENTING GOLF CEO
2 0 1 7 L AT I N O B U S I N E S S AWA R D S
BUILDING BRIDGES
Including
Our 24 Honorees Are Working To Narrow The Cultural Divide.
NEIMAN MARCUS CEO GEOFFROY VAN RAEMDONCK
J a n u a r y 2 01 5
S C O T T L OW E
leads the architecture firm behind Virgin Hotels Dallas and Forty Five Ten Hudson Yards
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Black women now hold top roles at three of Dallas’ most revered civic institutions.
Baker Botts’ C H R I S TA B R OW N - S A N F O R D
is president-elect of Junior League of Dallas.
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5G Studio Collaborative’s
WHERE REAL ESTATE KING
Executives continue to flock to North Texas, one of the hottest relocation markets in the country.
Here are the newcomers you need to know.
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B U S I N E S S
IN AIRLINE
CEO
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THE RISE AND FALL OF NCPA PRESIDENT JOHN GOODMAN
REVOLUTION
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business and charity events, commercial locations, and private parties, valet parking in Dallas is ubiquitous. It’s also increasingly competitive. “I’m after Crystal
D A L L A S
Think Tank Scandal
CEO
SEPTEMBER 2012. Thanks to
I N S I D E
LEADS A
a deal to bring the Byron Nelson golf tournament to Dallas—and left Irving in the rough. “To be a world-class city, you have to win in everything,” said Dallas Mayor Mike Rawlings. “If you want to be the very best, you have to build the very best course you can.” NOVEMBER 2013. Craig Hall never wanted to get into business. He didn’t think it was noble; he was wrong. “The worst time for me is when things are so good, I get bored,” Hall said. “It’s not necessarily a good attribute; if you want to go further, you should stay in a straight line. But I really enjoy zig-zagging.”
CEO CHEFS
CEO
MARCH/APRIL 2012. After a medical scare and an exit from a high-profile job, longtime Dallas banker Norm Bagwell bounces back, stronger than ever. “Not many people get a chance to step up and look at the world with fresh eyes,” said Bagwell, Bank of Texas CEO. “I got a heavy dose of a new perspective.”
A New Downtown WHY INVESTORS ARE FLOCKING TO DALLAS’ URBAN CORE
LSG SKY
APRIL 2013. AT&T engineered 2012
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SEPTEMBER 2017
SEPTEMBER 2011. Mike Ullman is on the way out at J.C. Penney and Apple retailing ace Ron Johnson is on his way in. “He was selling iPads, iPods, and iPhones over the last few years,” said Rob Wilson of Tiburon Research Group. “I think you and I could have sold those pretty well.”
Getting busy CEOs to participate in photo shoots can sometimes be a challenge. Here are some of our favorite covers from the past 15 years.
SEPTEMBER 2014
JULY/AUGUST 2011. EY Entrepreneur Of The Year honorees have been shifting into high gear. “Don’t ever think you know everything about leadership,” advised finalist Tim Leach of Concho Resources, “because the future always holds surprises.”
COVER STORY
Charity and Cattle Baron’s. I’d like to have them both,” said R.W. Raabe of Gold Crown Valet. “But not everybody knows us yet.”
83
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CO M M E RCIAL R E AL E STATE AWAR DS P LU S : Pioneer Award Winner Shawn Todd
IS
THE NEXUS OF
OPPORTUNITY Michael Sorrell has partnered with big names in business and government to remake education at Paul Quinn College. And he’s just getting started.
47 of the region’s biggest deals and most notable projects—and the people making them happen.
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MARCH 2015. CEO Barclay
2014 JANUARY/FEBRUARY 2014.
At the forefront of the energy revolution are Texas shale plays— and far-sighted independents like Scott Sheffield’s Pioneer Natural Resources Co. “It took our geologists two to three years to analyze the data of thousands of wells before we realized how big the prize was,” Sheffield said.
EVENTS + AWARD PROGRAMS The mission of connecting executives has moved beyond D CEO’s pages to include recognition programs and thought leadership events. Signature programs and the year they were launched:
2007
CEO of the Year
APRIL 2014. Born into dire poverty in Pakistan, Aslam Khan used luck and perseverance to become a wildly successful restaurant entrepreneur. “I believe poverty is a man-made phenomenon,” Khan said. “And if it’s man-made, you can fix it. I wouldn’t have been a success if I didn’t have a fear of poverty, fear of failing. Americans can’t imagine such poverty.” DECEMBER 2014. Admired for
his focus and foresight, Baylor Scott & White chief Joel Allison is 2014’s CEO of the Year. “Everything we’re doing, everything we do, has got to make it better for the patient,” Allison said. “Because if we’re not making it for the patient, we’re missing our mission. Bigger isn’t better; better is better.”
2010
Corporate Counsel Awards
2011
Commercial Real Estate Power Brokers
2011
Financial Executives Awards
2013
Commercial Real Estate Awards
2014
Excellence in Healthcare Awards
2014
Mergers & Acquisitions Awards
2016
Women’s Leadership Symposium
2018
Nonprofit & Corporate Citizenship Awards
2018
2015
Oil & Gas and Renewables Awards
JANUARY/FEBRUARY 2015.
Meet five of the region’s hottest young tech entrepreneurs, including Amber Venz Box of rewardStyle. “We will be righting some wrongs we see and continuing to empower the independent content creators,” she said.
2019
Diversity, Equity & Inclusion Symposium
2020
The Innovation Awards
Berdan had been on the job for less than a month when the Ebola virus struck Texas Health Presbyterian. “It’s almost inhumane to expect people who are going through what these people went through to continue to care for people,” said Dallas County Judge Clay Jenkins. SEPTEMBER 2015. John Carmack, the video game genius behind both Doom and Quake, is back, this time in the nascent VR space. “I actually like it here in Texas; we appreciate the sense of Southern hospitality,” Carmack said. “You don’t get the sense that everyone needs to be coddled and taken care of. You get the sense of gumption.” 2016 MARCH 2016. North American CEO Mandy Ginsberg is back at Match.com, which dominates online dating. Her goal: keeping the company relevant. “The idea of coupling and falling in love is so inherent in who we are; it’s not going away,” Ginsberg said. APRIL 2016. Canadian Tom
Gaglardi used business savvy and a lifelong love of hockey to turn around the Dallas Stars. “We want to win,” he said. “If we do the right things on the ice, then off the ice will take care of itself.” MAY 2016. The PGA’s hottest player, Jordan Spieth, is also becoming the hottest brand in golf. “I’m learning every day different aspects of what it takes to build my brand,” Spieth said. “And
M A R K CU BA N ,
while I rely heavily on my team, the overall decisions are mine.” SEPTEMBER 2016. The
American Dream is alive and well in North Texas, where Latino companies, executives, entrepreneurs, and consumers are playing a bigger role in the economy. “This is something that will not stop,” said Javier Velez Bautista of Mission Foods. “Texas, especially Dallas, will be the beneficiary.” 2017 MARCH 2017. A management shakeup has some questioning the future of Dallas’ Tech Wildcatters. “It’s unfortunate when people look at something that’s just being created and focus on the mess around it,” said CEO Gabriella Draney Zielke. “I’m sorry, creation is messy. Have you ever seen a baby being born?” JUNE 2017. From humble beginnings on a farm, Allie Beth Allman found success as the go-to realtor for Dallas celebrities. “There’s plenty of room in this town for everyone to succeed,” she said of a life lesson she learned when she was young. “My parents never said, ‘You can do anything.’ They said, ‘You will.’” OCTOBER 2017. The unbuttoned style of Varidesk CEO Jason McCann propels a million sales of his company’s innovative standing desk. “I gave up drinking and simplified everything, including my wardrobe,” McCann said of a key strategy. “It cleanses your headspace and frees you up to think about other stuff.”
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“A N YO N E i n D a l l a s c a n d o a n y t h i n g , i f w e o n l y G I V E T H E M A C H A N C E . T h a t ’ s w h y I L OV E DA L L A S S O M U C H . I t g a v e a l l t h o s e t h i n g s t o m e .”
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2018 MAY 2018. North Texas is becoming an esports magnet, attracting big-name investors, stadiums, and gaming’s hottest teams. “There aren’t any blueprints on how to build an esports team,” said Jason Lake of Complexity Gaming. “We are building this plane while we are flying it.” AUGUST 2018. Dallas-based
H E A D S H OT S C O U R T E S Y O F C O M P A N I E S ; J O N E S A N D O ’ B R I E N BY E L I Z A B E T H L A V I N , M A R S H A L L BY S E A N B E R R Y
Topgolf conquered suburban entertainment—and changed the ancient sport of golf forever. Golfing legend Greg Norman calls the company “a breath of fresh air for the game of golf.” Former Dallas Cowboys quarterback Troy Aikman goes further: “They have reinvented golf and driving ranges. Whatever you’re looking for, it’s offered here.” DECEMBER 2018. Jim Lentz oversaw Toyota’s move to Plano, and he’s fundamentally altering the way the company does business. “Back in the old days, you waited to make your decisions until you had 100 percent of the information, because you could afford to do that,” Lentz said. “Today, you can’t. Today, you’ve got to be ‘roughly right.’”
for two pro sports teams. “Nothing prepares you for being the guy who has to make the hard decisions and the person who is in the spotlight when things don’t go well,” Hunt said.
institutions. “When you look at Dallas’ history, there are a lot of people who have stepped out and risked things in order to make a difference,” said Cheryl Alston of Dallas Assembly.
AUGUST 2019. Turnaround
DECEMBER 2020. CEO of the
guru Andy Mitchell became the unlikely owner of The Weinstein Co. “It was one of the worst managed companies I’ve ever seen,” Mitchell said. “It was an ‘inmates ran the asylum’ type of scenario.”
Year Lori Ryerkerk makes social responsibility a priority at the $6.3 billion Celanese Corp. “I was the first female chemical plant manager at Exxon,” Ryerkerk said. “I was the second refinery manager. I held so many jobs in my career where I was the first, or maybe the second, and it was
hard. When I looked around and saw people doing my job, I didn’t see myself.” 2021 APRIL 2021. Michael Sorrell
SEPTEMBER 2019. About half of LGBTQ employees still lead closeted lives on the job. “Eventually, the gay, lesbian, and transgender communities will be seen as tightly woven into the fabric of this community,” said Dallas restaurateur Monica Greene. “And I absolutely love that.”
has formed innovative partnerships with some of the biggest names in business to remake education at Paul Quinn College. “It has been hard. It has challenged me emotionally and physically,” he said. “There is nothing easy about leading people you love, right? You don’t have the luxury of not getting it right.”
Dallas Mavericks CEO Cynt Marshall, August 2020. Below: opening spread for The Innovation Awards, January 2021.
2020 MAY 2020. A former smalltown anchorman, Nexstar Media Group’s Perry Sook owns more television stations than anyone else in the country. “There’s a lot going on in the country that just doesn’t happen in New York or D.C. or Los Angeles,” Sook said. “We’re going to represent those who are underrepresented.”
2019 JANUARY/FEBRUARY 2019.
A triumvirate of women leaders has instituted a forward-thinking culture at JPMorgan Chase. “We have different perspectives and experiences,” said Alice Rodriguez, managing director. “When we bring those together and use them to come up with better solutions, it’s very powerful.”
JUNE/JULY 2020. Black women now hold top roles at three of Dallas’ most revered civic
JULY 2019. Clark Hunt of FC
Dallas and the Kansas City Chiefs balances being the top executive
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MERGERS &
ACQUISITIONS
THE HUMANITY OF THE DEAL AWARDS 2021
story by WILL
MADDOX
photography by ALEXANDER
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CRISPIN
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DEALMAKERS
ATTORNEY Robert J. Cardone, Shearman & Sterling Paul Conneely, Norton Rose Fulbright Robert R. Kibby, Munsch Hardt CAPITAL PROVIDER Jeff Matthews, East West Bank Preston Roush, Texas Capital Bank Ryan Stuart, Woodforest National Bank DUE DILIGENCE PROFESSIONAL John Oden, Whitley Penn Brad Porter, Moss Adams INVESTMENT BANKER Barrett Kingsriter, Pinecrest Capital Partners Brad Purifoy, Corporate Finance Associates Robert Rough, Telos Capital Advisors PRIVATE EQUITY PROFESSIONAL Pierce Edwards, Valesco Industries Ralph Manning, Coltala Holdings Gary D. Nettis Jr., Caregiver Inc.
The best mergers and acquisitions transactions are those when players on both sides of the table can walk away with a sense of satisfaction. For some, it represents letting go of a company they’ve spent their lives building. For others, it represents an opportunity to take their own ventures to the next level. Despite unprecedented challenges, North Texas was fertile ground for M&A activity in 2020, with deals across a variety of industries coming to successful closure. They ranged from smaller transactions to giant deals, such as the $7.6 billion acquisition of Parsley Energy by Pioneer Natural Resources, solidifying the Irving-based company’s place as one of the biggest players in the Permian Basin. One of the most challenging deals coming to fruition in 2020 involved Plano-based Main Event Entertainment, which saw its business come to a standstill due to the pandemic. RedBird Capital Partners of New York stepped up with an $80 million infusion that gives it a 24.2 percent stake in the entertainment company, owned by Ardent Leisure Group of Australia and valued at $424 million. Terms of the capital boost give
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“People tend to think of businesses as corporate and without a unique identity. But the fact of the matter is, they’re run by people.” B r a d P u r i f oy CO R P O R ATE FI N A N C E A S SO CIATE S
RedBird the opportunity to acquire an additional 26.8 percent stake in the company between July 2022 and 2024. Another standout deal from 2020 is one that was complicated by a seller’s sudden health crisis. It was a stark reminder of the humanity behind M&A transactions, which often focus on the numbers. “People tend to think of businesses as corporate and without a unique identity,” says Brad Purifoy, managing director at Corporate Finance Associates in Dallas. “But the fact of the matter is, they’re run by people.” Purifoy, who focuses on small and middle market transactions, points to a business owner he worked with for six years. The client had been approached several times by suitors, but it wasn’t until early 2020 that he decided to sell. But as things progressed with a buyer, the owner’s health quickly deteriorated. The client told Purifoy, “I’m beginning to feel like the time I have left is going to be measured in months.” The owners’ condition worsened, and his spouse had to step up, with the support of Purifoy and other professionals. “She didn’t ask for—and wasn’t prepared for—the healthcare issues or the sale of the business,” Purifoy says. “The human dynamic was pretty tough.” In the end, the business owner pulled through, but he wasn’t able to participate in the deal-making process until just before everything was finalized. Purifoy says the situation serves as a good reminder for company owners to plan for all contingencies and of the humanity behind M&A transactions. “In a nutshell, the lesson is prepare, prepare, prepare—not only your business for the day of eventual transfer but also your family,” he says. “These are individuals. They’re people.”
DEALS SMALL DEAL (UP TO $50 MILLION) • Independence Dental acquisitions • Latticework Capital Management’s investment in Beacon Behavioral Hospital • Rise-Run Capital’s Acquisition of House of Outdoors (Googan Baits, Made By Influence, and Fish Media) • Stonehenge Capital’s acquisition of LilyAna Naturals MIDSIZE DEAL ($50-$249 MILLION) • Align Capital Partners’ acquisition of Electronic Transaction Consultants Corp. • Future Infrastructure, Pride Utility Construction, Tower Arch Capital, and Primoris • Sale of PHH Investments and PHH Investment Management • Main Event Entertainment’s partnership with RedBird Capital Partners • MGA Homecare’s sale to Flexpoint Ford LARGE DEAL ($250-$999 MILLION) • Rosewood Private Investment’s sale of Novaria Group to KKR $1 BILLION-PLUS DEAL • CenterPoint Energy, Elliott Management, Bluescape Group, and Fidelity Management • Pioneer Natural Resources’ acquisition of Parsley Energy • TPG and TA Associates’ acquisition of Planview
JUDGES: Joining editors to select honorees in D CEO’s 2021 M&A Awards, presented in partnership with the Association for Corporate Growth, were Ron Baker of Cadence Bank, Jordan Bethea of Baker Hostetler, Gemma Descoteaux of Sheppard Mullin, Heather Hubbard of Valesco Industries, Ryan Irby of DHG, Larry King of King Strategy, and Alexandria Lockwood.
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Money 4/12/21 2:45 PM
story by KELSEY
J . VA N D E R S C H O O T
CFOs and other financial executives were forced to compete on a constantly changing playing field in 2020. Here, we honor outstanding professionals who came out on top.
y Matters
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The
O U T S TA N D I N G C F O :
Nonprofit Organization
U NI Q U E C H A L L E N G E S A N D M A R K E T VO L ATI L I TY
of 2020 highlighted the critical role of financial executives like never before. Uncertainty shifted the focus of CFOs and other finance leaders to conserving cash flow, saving jobs, preserving liquidity, and navigating federal aid requirements. Health and safety concerns demanded a hard look at processes and procedures. The world shifted to a culture of remote work that brought with it new communication methods and technology platforms. It all made financial modeling essential, as businesses tried to prepare for every possible outcome that the coming days, weeks, and months would bring. Here, in partnership with the Association for Corporate Growth, TXCPA Dallas, and Financial Executives International, we highlight 38 North Texas CFOs and other leaders who helped their companies adapt and thrive in the past year’s challenging climate. Our 2021 Financial Executive Awards finalists were selected by esteemed judges, including Daniel Boarder of Whitley Penn, Jim Farrell of GHIG Services, Jason B. Freeman of Freeman Law, and Sharon Lukich of Thomas Edwards Group. Winners will be revealed at a private awards ceremony in May.
WESL I E
BRITTIN In the midst of fundraising challenges to maintain care for individuals with disabilities, Ability Connection CFO Weslie Brittin established a new finance team, pivoted to prevent layoffs companywide, helped complete three years' worth of company audits, and increased the nonprofit’s billing percentage on government contracts by 30 percent.
F RED
GROTE O U T S TA N D I N G C F O :
Large Public Company O U T S TA N D I N G F I N A N C I A L E X E C :
TRACE Y D OI The financial leader across Toyota’s 14 North American manufacturing plants, Tracey Doi says asking what the company should stop, change, and challenge helped her team reallocate resources to tech, new products, and mobility initiatives last year. “As we address short-term challenges, it is important that we look through that lens and continue to invest for the future,” she says.
Public Sector
“Problems don’t get better with age. Have the courage to address problems head-on. If you don’t deal with problems quickly, you lose the respect of your people.” S H E R I P. KOWA L S K I C it y of D a ll a s
PHILIP SCH L OM Philip Schlom joined AZZ in October 2019 as CAO and rose to CFO by May 2020. “I took the helm of a changing organization and had to use skills learned in earlier experiences to get up to speed with treasury, deal with a hardened insurance market, and get filings back on track—all while working with new outside auditors,” he says.
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Mercy Ships is a nonprofit that brings medical assistance to developing countries by ship. Its CFO, Fred Grote, managed a $200 million capital campaign during 2020, implemented a new document managing system, and developed a new financial executive dashboard—all without the help of a controller.
MI GUEL
MOLINA As the financial lead of Avocados From Mexico, a nonprofit organization that supports 28,000 avocado growers and 62 packers, Miguel Molina says his role expanded last year to include understanding analytics, strategy, negotiating, and advancing business and customer knowledge. “The CFO is the new CIO,” he says.
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Midsize Private Co.
What is one of your key leadership strategies? “The idea that I probably lean on the most is that everyone has a voice, but not everyone has a vote. I want to listen and hear from everyone, but it is not a popularity contest; I am willing to make the decisions.” A LL A N FR A N K HomePro Operating
“One of my key leadership strategies is listening. I am known in our company as a listener. I listen, and I try to fix the problem.” K ARRA GUESS ESRP
“Empathy. Our business and financials were certainly disrupted this past year, but that paled in comparison to what our employees went through when their lives were completely uprooted. It was a significant adjustment for everyone involved and required a lot of patience, understanding, and empathy.”
Health Systems
ME T HODIST HEALT H SYST EM
BAY LOR S C O T T & WHIT E HE A LTH
Methodist Health System CFO Craig Bjerke led the $2 billion hospital system through the pandemic without laying off any of its 10,000 employees and while opening a new Midlothian location. “Every week, we had to deal with a new financial situation,” Bjerke says.
For CFO Deanne Kindred, 2020’s success was marked by her group’s ability to support other teams. “We’re there, as partners, focusing on solutions,” she says. Kindred oversees 117 hospital CFOs, who navigated federal funds and stimulus while supporting frontline workers.
T E XAS HEALT H RESO URCES
T E XAS HE A LTH F ORT WO R TH
Rick McWhorter, CFO of Texas Health Resources, says 2020 emphasized the importance of supply chain continuity. He worked with other systems to invest in domestic production. “We need to do whatever is necessary to shore up our medical supply chain,” McWhorter says.
Texas Health Fort Worth Hospital’s Shelly Miland, vice president of finance, says her role in 2020 shifted from focusing on finance to people. “It was crucial to keep all areas functioning and serving our patients; therefore, our staff became my biggest focus,” she says.
P R E E TH H EG D E C o l l a b o r a t i ve I m a g i n g
“Set an example of doing what is in the best long-term interest of the bank all day, every day. This helps generate unity of purpose and considers all stakeholders—customers, employees, shareholders, the community, and regulators—balanced appropriately for the decision or operation at hand.” D R E W K E ITH Tex a s S e c u r i t y B a n k
“Surround yourself with people you can trust, remove barriers that may be preventing them from doing their best work, and listen to what they have to say. Having differing perspectives enables healthy, challenging dialogue that forces us to consider multiple perspectives and outcomes.” S TE P H E N SC H I L S K Y Hyphen Solutions
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O U T S TA N D I N G
Internal Auditor
Of which professional achievement in 2020 are you most proud? “I am most proud of how my team and I effectively supported the business through 2020. This included partnering with management to develop control activities around new systems and processes for supply chain, HR and payroll, and e-commerce sales.”
“My team and I took on a new and broader scope. We needed to identify new processes, skill gaps, and augment our headcount. We built our knowledge base, deployed templates and new processes, and accomplished the goals within budget and on time.”
“In 2020, Daseke was able to fully remediate all of its material weaknesses and significant deficiencies and now has a clean controls audit opinion. I am very proud of the Daseke control owners’ and the internal audit team’s work on this critical objective.”
“Being part of Amynta's transformation of processes, procedures, and strengthening our overall control environment and governance. The CFO consulted me on key decisions on finance organization structure, personnel changes, IT applications, and processes.”
CHRIST Y CANALES Sally Beauty
J E N N I FE R M I LLE R M c Ke s s o n
JA M E S C . PAU LU S D a s e ke
LE I ZH AO A my n t a G r o u p
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F IN A N C IA L
E XE CU T I V E AWA R DS 202 1
O U T S TA N D I N G C F O :
Midsize, Public Co.
J. MI C HA E L E DG E Hilltop Securities CFO Michael Edge says it’s critical to build a team you can trust and that artful delegation can multiply one’s effectiveness. “There is simply too much to accomplish, and the business is too complex to do everything yourself,” he says. “I am transparent with my team, and I make sure they know how I think on key topics, so they are empowered to speak confidently on my behalf.”
O U T S TA N D I N G C F O :
Colleges and Universities
How did your role as CFO change in 2020? “We moved from making small, incremental changes to making wholesale changes to processes and procedures. We had to do the right thing to protect the well-being and health of our students, faculty, and staff while continuing our mission.” M AT T M U R R A H D a l l a s B a p t i s t U n i ve r s i t y
“In addition to dealing with all the financial issues surrounding COVID, I was also at the forefront of leading our campus’ response to COVID across all areas of our operation. In the early months, I had little time and ability to do my more ‘normal’ job.”
O U T S TA N D I N G
Community Service
“I’m a collaborative leader by nature, and if a consensus is possible, that’s desirable. But if it looks like that’s not possible, I’m not shy about making a decision and pushing forward with a plan.”
DA N HO LLE N BAC H Dan Hollenbach, CFO of BGSF, helped the staffing company close two acquisitions. And he says more are coming. “We foresee growth from acquisitions and organic growth opportunities from pent-up demand for services in one of our segments,” Hollenbach says. He also hired two team members and implemented a new enterprise resource planning system in 2020.
R I C K B O LL A R C a p it a l C FO P a r tn e r s
C H R I S TI N E R EG I S S o u t h e r n M e t h o d i s t U n i ve r s i t y O U T S TA N D I N G C F O :
“The need for enabling change in our operational activities was significantly heightened due to the COVID-19 pandemic. The ability to model helped us avoid major surprises as we drove proactive mitigation strategies to successfully navigate the many challenges.” DA N I E L J . TE N N E Y U n i ve r s i t y o f N o r t h Tex a s Sy s te m
“My role shifted to focus much more heavily on planning and developing contingency plans for multiple scenarios. And the environment was constantly changing such that the scenario planning cycle was more of an iterative process.” RO B E R T A . WATLI N G U n i ve r s i t y o f D a l l a s
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Large, Private Company
Where do the greatest opportunities lie for your company and your industry? “Authentix provides brand protection, assures the integrity of supply chains, and underpins global commerce by protecting national currencies. Our opportunities lie in aggressive organic growth and M&As in an industry that is ripe for consolidation.”
“The professional sports industry is rarely self-sustaining. Leveraging the asset of passionate fans and large venues into land development, capturing new revenue in betting, and creating unique experiences outside of the sport in our venues and projects will create value and long-term sustainability.”
“One of the biggest opportunities for healthcare is taking advantage of 2020’s many lessons, including becoming more nimble in forecasting. Our industry will need better sightlines to help prepare for future shifts in consumer behaviors, insurance markets, care utilization patterns, and infectious diseases.”
“We are incredibly optimistic about the future. Although it is sometimes hard to imagine life before COVID, we’re confident that people will emphatically return to spending time together outside the home. We plan on being there for that, and our growth strategies reflect that.”
DAV I D B . B ROW N Authentix
K E LLI E FI SC H E R Tex a s R a n g e r s Baseball Club
LI SA G I LD O N Tex a s H e a l t h Plano & Allen
DA R I N H A R P E R M a i n Eve n t E n te r t a i n m e n t
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O U T S TA N D I N G O U T S TA N D I N G C F O :
F i n a n c e Te a m
AT HOME GROUP led by
JEFFREY R. KNUDSON
At Home Group’s finance team, led by CFO Jeffrey R. Knudson, helped the company achieve new highs in comparable sales, profitability, and free cash flow. “We wanted to ensure that we could withstand a worst-case scenario and emerge as a marketplace winner upon reopening,” Knudson says.
O P E N I N G S P R E A D G E T T Y I M A G E S ; B R O U S S A R D C O U R T E S Y O F A T H O M E G R O U P ; A L L OT H E R S S H U T T E R S T O C K
WHITLEY PENN led by
C A O , C o n t r o l l e r, O R Tr e a s u r e r
What were some of the biggest challenges of 2020, and what did you learn from them? “Multifamily housing is a resilient product. However, the pandemic and the economic uncertainty facing the market and our residents created financial tensions. It taught me how valuable it is to have a good team that adapts rapidly and is capable of working together exceedingly well.”
“We realized many of our members were facing financial challenges that would greatly impact our organization but knew North Texans were all in this together. We contacted members in the most-stressed industries to see how we could help, rather than discuss their membership dues.”
“Last year, I helped Tenet’s accountants navigate through three acquisitions of more than $1 billion each. In doing so, I learned that implementing change takes a balance of considering standardization and risking internal control disruption from changing processes too quickly.”
“The uncertainty brought challenges in many of our accounting estimates. I learned that many times you would not have all the information you want, but you have to be decisive even with incomplete information, believe in the decision, and clearly articulate the chosen path.”
E M I LY LI U C O N T I R e a l E s t a te I nve s t m e n t s
DAW N M I LLE R N o r t h Tex a s C o m m i s s i o n
SCOT T R A M S E Y Te n e t H e a l t h
L AU R A SA NTI LLIA N Alliance Data
JIM PENN
Whitley Penn Partner and CFO Jim Penn says one of 2020’s biggest challenges was shifting focus from long-term to shortterm savings. “Our personnel understood the need to temporarily adapt and rallied with ideas of their own to save the firm money,” he says.
C O N S TA N T I N E “ C O N N I E ” KO N S TA N S AWA R D
M A RY JA N E
BR O U SSA R D
At Home Group
T HI S Y E A R , TH E E D I TO R S O F D C E O A N D O U R PA N E L
SECURITY NATIONAL BANK OF TEXAS led by
JAMES LANDEN
James Landen says his Security National Bank of Texas team saved 5,000 Dallas jobs through its assistance with PPP loan applications. “Our bankers spent countless hours working with customers so that their businesses were eligible for PPP loans and forgiveness,” he says.
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of judges decided to rename the Excellence in Corporate Governance Award in honor of Constantine “Connie” Konstans. The late accounting and information management professor at The University of Texas at Dallas was the award’s first recipient and a true pioneer. For years, he served as director of UTD’s Institute for Excellence in Corporate Governance, which is dedicated to developing and impacting corporate strategy across various disciplines. This year, the award is being presented to Mary Jane Broussard, general counsel, chief administrative officer, and corporate secretary of At Home Group. In addition to leading the charge through 2020’s myriad safety concerns, omnichannel expansion, and board oversight into emerging issues, Broussard became At Home Group’s chief administrative officer and interim chief human resources officer. “Those expanded responsibilities were critical to the company maneuvering through COVID,” she says. Among other things, it helped the company implement remote working protocols, prioritize health and safety, comply with varying local mandates and orders, and rapidly expand e-commerce capabilities. In the second half of the year, Broussard says, these maneuvers helped At Home Group hire a record number of new employees to serve customers.
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The Dallas CPA Society is now TXCPA Dallas, but our brand is backed by the same commitment to connect, protect and advance our members. TXCPA Dallas continues to serve Dallas area CPAs in all the ways we always have.
Plan to join TXCPA Dallas Online at
Friday - May 28th 2021
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SPECIAL ADVERTISING SECTION
SHUTTERSTOCK
The Business Community and Dallas ISD DREXELL OWUSU Director, Education & Workforce, Dallas Regional Chamber
A conversation with school and community leaders about how your business can get involved in improving Dallas’ future by supporting the Dallas Independent School District. Why did you get involved with Dallas ISD, and what is the one thing you wish people knew about the district that you think they don’t?
GABRIELLE MADISON Director of Community Relations, Thomson Reuters
DUSTIN MARSHALL DISD District 2 Board of Trustees
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DREXELL OWUSU: The business community recognized a decade ago that it can no longer be a passive participant in a system that wasn’t effectively serving our families and students as well as it could. If you look back to 2011, there was an administration that was willing to do the work and execute on great ideas but needed political will and motivation. We had to hit rock bottom (19% of students were in failing schools as rated by the state at that time) for the business community to realize that it needed to do a lot more, and that’s why the Dallas Regional Chamber started
to really invest in Dallas ISD that time. Investing in Dallas ISD is really an economic development benefit. We are trying to grow an economy here and ensure our business community can continue to thrive and grow; if they can’t find talent they’ll leave for somewhere else. So, to that end, all education is vocational educational. We all need to get a job, and the district and business community have united forces in areas to ensure our education system is preparing students for the job needs of the immediate and long-term future.
Why is Thomson Reuters invested in Dallas ISD? GABRIELLE MADISON:
It’s extremely important
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SPECIAL ADVERTISING SECTION
for us to have a talented workforce. Companies like ours are looking to grow, and you really can’t do that without the talent. When Thomson Reuters was looking to expand its footprint, the first questions our executives asked were, “What’s the talent like in Dallas?” and “What’s the education system like?” Thanks to the Dallas Regional Chamber, in 2015 Thomson Reuters got involved with the PTECH program as a structured way to plug in directly with Dallas ISD. This has been key, because sometimes it’s hard for companies to know how to get involved, as academia and industry have not usually worked in tandem on joint outcomes. But PTECH changed a lot of that.
What are some of the key markers of progress that have been implemented during your tenure as a Dallas ISD Board Trustee? DUSTIN MARSHALL: There have been a number of
effective reform measures over last five years, and a lot starts with our teacher compensation and evaluation system, TEI (Teacher Excellence Initiative). Prior to TEI, more than 98 percent of teachers every year, for 20 years, got a grade of satisfactory or above on their annual performance review. As a member of the business community, you know there’s no organization in the world where 98% of people are exceeding performance expectations. Second, it didn’t make any sense that supposedly every teacher was doing a great job, yet only 12% of high school graduates were graduating at a college-ready level. So, we did what many businesses do. We revised our evaluation system and started using a scorecard to bucket teachers into performance bands. Then we paid them based on performance rather than on seniority, which is quite innovative for the education world. This compensation system has been unbelievably successful in driving not only performance of our students, but it has also allowed us to better recruit and retain excellent teachers. As a result, the average salary in Dallas ISD is over $63,000, which puts us way ahead our peer districts and most in the state.
Elaborate on some of the core initiatives, policies, and progress points that the Dallas ISD has made with the business community around career readiness. The PTECH program stands for Pathways and Technology Early College High DREXELL OWUSU:
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School. It was started in New York by IBM in support of building a talent pipeline for themselves. In 2014, Dallas ISD started thinking about what its own version could be. Now we have a fouryear program where students can graduate high school with an associate degree for free. That’s revolutionary in itself. Dallas ISD arguably has the largest degree of business involvement anywhere else in the country. The CTE (Career and Technical Education) programs are also worth highlighting, which are tied directly to real workforce needs at the end of the continuum. Think of your modern version of woodshop. These career institutes will be expanded over next few years to ensure that even if you are getting an associate degree, you are getting credentialed for something that will pay a living wage.
Can you walk through the details of Thomson Reuters’ partnership with Dallas ISD? What are some of the lessons you’ve learned? GABRIELLE MADISON: In 2015, Thomson Reuters
was expanding its talent outreach and wanted to challenge the status quo on recruiting. We knew we had to do something different to attract the diverse talent and a new strategy was required. That’s where PTECH came in. PTECH is a great fit for early talent needs, but we had to ensure that our internal leadership team understood that it could take years to see the fruits of Thomson Reuters’ labor and investment. Thankfully they were up for the challenge and saw the value from a long-term talent development perspective, while helping Thomson Reuters build its brand and community engagement here in Dallas. Now, Thomson Reuters is tied with North Dallas High School, alongside six other industry partners and we are their biggest champions. The proof is in the pudding—Thomson Reuters was able to hire 23 of its 35 PTECH summer interns in 2020. Now we’re looking at hiring 100 interns the summer of 2021 across many departments.
What does DISD need more of from the business community? How can other companies get involved like Thomson Reuters has? PTECH is a big opportunity for businesses to get involved in within the district. And business shouldn’t think of this as philanthropy. There is real value as a business, since you can customize your labor supply in a way by making sure the curriculum is tailored to DUSTIN MARSHALL:
meet your needs. If you’re able to hire folks right out of high school with an industry certification, then a partnership with the Career Institutes is a great option. There are also opportunities to bring employees on campus as volunteers for tutoring, reading, and local school initiatives. Or, if you are willing to offer financial resources, you can support the Dallas Education Foundation. Lastly, I’d encourage businesspeople to support business-minded school board candidates. DREXELL OWUSU: Another great way to help build the pipeline is with the Dallas Works: Mayor’s Summer Youth Employment Program (dallassummerjobs.org) and sign up to hire an intern so they can get the exposure to your company and work environment. There are thousands of kids dying to have an opportunity, and we encourage everyone to get involved with that.
Now onto the bond, which passed in November 2020. Please walk through the key components and why this was so needed. DREXELL OWUSU: I served in my personal capacity as the co-chair of the citizen bond steering committee in 2020, which developed what was ultimately a recommendation for about $3.7 billion of investment from our community to support the physical infrastructure of our schools. We need to move from war-era school buildings (average age of a Dallas ISD campus is 50 years) into a modern infrastructure that allows for better education and learning. This includes campus technology improvements, better internet for students, real physical infrastructure like functioning windows and improved ventilation, safety and security, ADA-complaint facilities, and much more. We put that on the ballot in 2020, and our voters were gracious enough to approve the vast majority of it ($3.6 billion out of $3.7 billion bond proposed, and no tax increase), and this will allow us to update and modernize our school campuses for many years to come. There is also the benefit of increasing Dallas’ economy because we’re hiring local contractors to do that work who, in turn, are employing locally. Since we’re in such a low interest rate environment, we’re actually saving the district hundreds of millions of dollars relative to the assumptions we made in the bond proposal.
If you are interested in speaking directly with Dallas ISD about how your business can get involved in these efforts, please email Dr. Brian Lusk, chief of strategic initiatives for Dallas ISD, at brlusk@dallasisd.org.
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4/8/21 1:39 PM
Supporting the next generation of professionals © 2021 Thomson Reuters TR1487941
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FIELD NOTES
N O R T H T E X A S B U S I N E S S A D V I C E , A N A LY S I S ,
a n d
C O M M E N TA R Y
LESSON LEARNED
Listening to Other Perspectives Allen Gump, Executive Vice President C O L L I E R S I N T E R N AT I O N A L
SHUTTERSTOCK
“nine years ago, my daughter, allyson, came to work with me. at that point, I had been a commercial real estate broker for 27 years; I had a pretty good thing going and never wanted a partner. Bringing Allyson on has changed my perspective on how I view the industry we’re in and the people with whom we do business. I’ve learned that when I listen to a young woman’s thoughts and ideas, it adds a new dimension to the conversation. I have come to respect her perspectives on everything we do—and realized there are some things she’s far better at than I am. Getting to work with her every day has injected a new sense of purpose into my work. I believe it has extended my career by another 10 to 15 years. It has also clarified the fact that we need more young women and people from all walks of life and diversity in the real estate industry. It makes us all better.” —As told to Christine Perez
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MISSED OPPORTUNITY
The Lakes, in 2017, at the Ambassador Hotel. They hoped to renovate the building, but it was felled by fire in May 2019.
I
R E A L E S TAT E
At the Top of Oak Cliff Redevelopers Jim Lake Jr. and Amanda Moreno-Lake are playing real-life Monopoly in the evolving neighborhood. story by BIANCA R. MONTES
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it’s no secret that amanda moreno-lake and Jim Lake Jr. have a vested interest in Oak Cliff. From decades back, when Jim brokered a building for his father in what would become the Bishop Arts District, and through numerous subsequent redevelopments, the couple is playing real-life Monopoly with a combined half-million square feet of property in the neighborhood, including Jefferson Tower and the building that houses Lockhart Smokehouse. Their latest acquisition of Oak Cliff Tower isn’t just a story about real estate; it’s a tale filled with immense challenges. “This iconic building for us was completing the puzzle we have here,” Amanda says, as we walk through the lobby of the 15-story asset. The couple’s quest to buy the property began about a year ago, right when a global pandemic forced offices to shut their doors. Market conditions, combined with the buy being an office building in Dallas’ southern sector, was just enough to give their longtime bank pause when it came to investing in their vision. With financing falling through in the eleventh hour, Amanda
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P O R T R A I T BY J O N A T H A N Z I Z Z O ; OA K C L I F F TOW E R C O U R T E S Y O F J I M L A K E C O S .
FIELD NOTES
did what she does best: hustle. “I have tough skin. deal also included about five acres of vacant land along 12th, Zang, and Beckley—likely a considerI wasn’t going to sit around crying,” she says. able payoff as the neighborhood is on the cusp of “When someone tells me ‘no’ and tries to shut the future development, including a deck park over door in my face, it makes me work harder. I am Interstate 35E and plans to create a gateway into very happy to say there is a lot of money out there the future Jefferson Historic District. besides just North Dallas.” “This is going to be a huge anchor, the entry The couple’s track record of success in North Oak Cliff, Waxahachie, and the Design District into the Jefferson Historic District, and we want to brand it that way,” Jim says. “Having this type helped attract an unconventional mix of invesof asset, our goal is to make it one of the best oftors—90 percent of whom are local to the neighborhood, including first- and second-generation fice buildings in Dallas over the next five years.” For Jim and Amanda, one might families from Jordan, Afghansay they saw the forest through istan, and Mexico. “For us, it is “WHEN the trees when it came to a recreating a new diverse group,” vitalized Oak Cliff—although it Amanda says. “It is the most diSOMEONE TELLS wasn’t always crystal-clear. “It verse group that [we have ever ME ‘NO’ AND was tough in the beginning; I reworked with], which I am excitTRIES TO SHUT member we had to almost drag ed about.” THE DOOR IN people kicking and screaming to Bringing on a new group of inMY FACE, IT come from North Dallas to look vestors also has placed extreme MAKES ME at space in Oak Cliff,” Jim says. pressure on the Lakes, who feel Growing up in North Dallas and a tremendous responsibility to WORK HARDER.” seeing what was going on in the make sure their partners get a southern sector, he knew it was solid return on their investment. AMANDA an opportunity for him to make Amanda tears up when she MORENO-LAKE a difference in the community. thinks about one specific inves“We envisioned something like tor who asked her, “Why do you believe in this project so much?” She answered, what we have today, but I didn’t see that far—I don’t think—at the time,” Lake says. “Seeing the “Because I’ve lived here all my life and I know difference that we make in a neighborhood and what is going to happen. I see it. I know—so you community, taking our skillset, and giving back have to trust me.” to the community, is very important. I think we Opened in 1964, the 15-story Oak Cliff Towalways say, ‘We can’t do it all, but if we can do a er at Zang Boulevard and 12th Street originalproject in a certain area and make a difference, ly housed Oak Cliff Bank and Trust. The iconic then other people can come in and redevelop building is filled with memories for locals like Amanda, who remembers visiting the building around us.’” as a child with her parents. And for decades, the building was home to NEW HEIGHTS the popular dining and social venue Oak Cliff Tower is the tallest with its Top O’ the Cliff Club. In the high-rise in the coming months, the Lakes hope to neighborhood. once again light up the night skyline with an event’s venue on the building’s top floor. The couple also plans to turn an empty floor of suites into an incubator space for small local businesses and transform the basement and outdoor credenza into a marketplace for artisans to sell their goods. The 277,920-squarefoot building is currently leased to long-term tenants like the State of Texas and Bank of America. The
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PORTFOLIO
A Focus on Overlooked Markets Jim Lake Jr. and Amanda Moreno-Lake may have an affinity for Oak Cliff, but the couple (together and individually) have left their mark throughout the region. Jim worked tirelessly to change zoning laws in the Design District, bringing Trinity Lofts, the first residential and mixed-use project in the area. The couple also transformed downtown Waxahachie, where they set new records for rents and redeveloped the historic, 106-year-old Rogers Hotel. Their latest endeavors involve projects in Corsicana and Ennis, where they’re creating mixed-use hubs with a combined 11 buildings. The couple’s growing Oak Cliff portfolio (with date acquired) includes: 19 8 5 Multiple properties in Bishop Arts District 201 1 Mayor’s House Restaurant 201 3 -1 4 Jefferson Tower (83,570 square feet) 202 0 Oak Cliff Tower (277,920 square feet) 202 1 Winnetka Place (26,110 square feet)
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ON TOPIC
“What would you change about Dallas to make it even better?” edited by CHRISTINE PEREZ
058
illustrations by JAKE MEYERS
DR. KELVIN BAGGETT
JO TRIZILA
BRADLEY WILLIAMS
Chief Impact Officer M C K E S S O N C O R P.
President and CEO T R I Z C O M P U B L I C R E L AT I O N S
President and CEO ELEPHANT OIL & GAS
“One of the most glaring issues that has to be addressed is the significant disparities that exist and how those limit opportunities and perpetuate poorer health conditions for certain members of our community. What inspires me is that Dallas has the talent, the resources, and the wherewithal to create sustainable and more equitable improvements that can not only improve our city but transform other cities across our nation.”
“One thing I would change about Dallas is accessibility to the arts. An unexpected blessing of the pandemic has been arts accessibility, with some performances going virtual. Art is not a want; it’s a need. Sadly, due to COVID-19, our nonprofit organizations have suffered the loss of millions in revenue. We all must step up and lift up our arts groups—their survival depends on it. We can all make donations, volunteer, and get involved.”
“To make Dallas even better, I would love to see the Trinity River corridor enhanced to the point that it could truly provide a natural space that competes with other great cities in the United States. In today’s times, getting outside into open-air space has become even more important. Klyde Warren Park has been a great addition to the city. Just imagine what a green space on the scale of the Trinity River could do for our region.”
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FIELD NOTES
THOUGHT LEADER
eyes and focus on your inhalation and exhalation. If your mind wanders, that’s perfectly normal; bring your attention back to your breath and continue.
A Healthy Start for Corporate Leaders
2.
Wellness expert Sheila Jackson explains how a consistent morning routine can help busy executives reduce stress.
CO U R T E S Y O F E M E R G E W E L L+ CO
T
MOVE. A little gentle stretching after you meditate helps release the fuzzy or frantic feelings with which many people wake up. This type of movement sends the message to your body and your brain that it’s time to get going while simultaneously relaxing and lengthening muscles, which improves overall body posture. Try to work up to 10 minutes a day.
1. MEDITATE. No monks or mountaintops necessary; this is a simple mindfulness technique that, when practiced for as few as 10 minutes a day, can help regulate stress, decrease anxiety, improve cardiovascular health, and achieve greater relaxation capacity. Start with two minutes first thing in the morning, in a seated position. Close your
he path to the top of the corporate ladder can be a steep and precarious one, impacting physical and mental health in unforeseen ways. Some stress can be beneficial, but leaders must do what they can to alleviate tensions that affect their ability to consistently perform at an elevated level—especially under challenging circumstances. A stressful start to your day, particularly when repeated regularly, has the potential to keep your body physically stuck in its fight or flight response system, pumping out stress hormones and causing a cascade of undesirable symptoms and health conditions. I speak from experience; after spending years building a multimillion-dollar logistics company, a near-fatal health crisis led me to walk away from that endeavor and launch a firm that focuses on wellness. I’ve learned that creating a mindful morning routine is a powerful strategy for maintaining elevated performance at work. Here are four ways to help stop destructive stress before it starts:
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3. MUNCH. Don’t skip breakfast; it’s the best time of the day to take in maximum nourishment. If you are not used to eating in the morning, start small by rehydrating the body with some fresh, seasonal fruit. Fruit or vegetable juices can be another healthy breakfast option that is easy on your stomach and quick to prepare when you need a head start on a busy day.
4. MASSAGE. After hopping out of the shower, give yourself a quick massage with essential oils. Sesame oil is ideal for detoxing and repairing. Recommended for sensitive skin, it is high in linoleic acid, which gives it excellent antibacterial properties. Almond oil is easily absorbed, hydrates, has a silky texture, and contains vitamins A, E, B1, and B6.
Sheila Jackson is the founder of Emergewell+Co, a Fort Worthbased wellness company.
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All great companies have an interesting story, and that story is best told by the people behind its success. The individuals on the following pages—CEOs, executives, founders, and entrepreneurs—are all leaders in their respective fields. When you are in the market for the services featured on the following pages, these Faces of Dallas Business are the experts to call first.
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Big Ranches, Record-Breaking Deals, Legacy & Legend Properties B E R N A R D ( B E R N I E ) U E C H T R I T Z , OW N E R O F I C O N G L O B A L
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The “Go-To, Can-Do Guy” and “Rainmaker of Real Estate” International real estate advisor and leading specialist broker of ranch, mega-asset class real estate, and unique, complex property sales Acclaimed independent and globally connected brokerage. Icon is nimble, creative, aggressive and an elite specialist marketing machine with a 30-year track record of success—also known as The Seal Team Six of Real Estate
Bernie Uechtritz holds title to the largest-ever ranch sales record in American history. He is ranked No. 1 out of more than 23,000 agents in 71 countries across a 1,000-office global network. Icon Global specializes in ranch and luxury ranch properties as well as commercial, industrial, and unique residential sales, with success in everything extraordinary, in-between and beyond. Icon also offers appraisal and consultancy on a range of real estate specialties. Uechtritz has sold properties all over, many with record-breaking price tags listed from $7 million to $725 million. “No other agent or brokerage firm does quite what we do,” Uechtritz says. Renowned sales include The Waggoner Ranch, the Menendez Estate, Barefoot Ranch, Rio Bonito Ranch, Broseco, The Reserve, Sulphur Bluff, KC7 Ranch, KB Carter, Lonesome Oak, Comanche, Fincastle, Spring Gulch and Dodge Ranches, and many more from Texas and California to Wyoming and Western Australia. Year after year, Icon Global successfully markets and sells oneof-a-kind real estate of every size. Watch this space in 2021!
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3466 Gillespie Street Dallas, Texas 214.855.4000 icon.global
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Left to Right: Brad Rejebian - SVP, C&I Banking; Jim Weichel - VP, Retail Banking; Brice Bolen – SVP, Homebuilder Finance; Harry Goulding – SVP, Credit Administration; Pete Thompson, SVP – Commercial Real Estate Banking; Tony Barnard – Regional President Texas; Martha Dunn, Director of Treasury Management; Rusty Stehr – SVP, Energy Banking
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Commercial Banking WA F D B A N K
wafd bank is a national bank with over 200 branches and, through the years, has earned a reputation much like a reliable next-door neighbor. One of the highest capitalized banks in America, WaFd Bank focuses on loan and banking needs for commercial real estate, commercial and industrial lending, energy banking, treasury management, retail banking, and mortgage lending. Since its founding in 1917, WaFd Bank has helped build thriving communities, all while delivering simple, straightforward banking solutions to its clientele. The company currently reports more than $19.1 billion in assets and has raked in the honors during the past few years. Among the most notable: Best Big Bank (Newsweek, 2021), Best Bank (Money.com 2018-2020), Best Banks in America (Forbes, 2021), and A1/Prime-1 for long-term deposits, Moody’s Investment (2021). And the accolades and achievements don’t stop there. “After 104 years in business, we are still considered a top portfolio lender,” says Tony Barnard, regional president of WaFd Bank Texas. “Twothirds of our loan originations are commercial loans, and one-third are residential mortgages. We achieved record deposit growth in transaction accounts during the pandemic—an increase of 38 percent—and we did more than 6,500 PPP loans to both clients and non-clients. In 2020, we also produced record loan growth of $6.2 billion, an increase of 51 percent. Our net promoter score, which is driven from our annual customer surveys, has increased from a 17 to a 51 during the past four years—higher than all major big banks and most regional banks. Our Texas leadership senior management group played a significant role in all of these achievements. For us, it’s not the first deal or the first loan we originate with someone— it’s the opportunity to help again in the future.”
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Midtown Dallas | 214.526.5843 Park Cities Dallas | 214.350.0198 Plano | 972.378.0200 Denton | 940.565.1807 Richardson | 972.231.6085 wafdbank.com | Member FDIC
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Office Development B I L L CAW L E Y, C H A I R M A N A N D C E O, CAW L E Y PA R T N E R S
for those in the real estate industry, the name bill Cawley is synonymous with Dallas office space. One of the early developers to recognize the potential and appeal of the Dallas North Tollway, he capitalized on land opportunities along what he calls, “the spine of Dallas.” DNT landmark developments, such as International Plaza and Tollway Center, came to fruition because of Cawley’s keen knowledge of office environments and his ability to predict what users want before they fully understand it themselves. Cawley Partners, the real estate company founded by Cawley, is uniquely positioned to serve Dallas-Fort Worth brokers and their corporate clients because of his roots as a broker. “I spent years competing with the best tenant rep brokers in Dallas, but along the way, I learned it was much more fun to work with them rather than against them,” he says. Following that epiphany, Cawley set out to establish a development company where he could align himself with the broker community and, together, serve the interests of the Dallas business sector. Since its inception, Cawley Partners has developed everything from one-plus-million-square-foot, Class A office projects to 60,000-square-foot tilt wall value solutions. The company is now wrapping up three build-to-suit developments in Dallas and Arkansas. “It’s always about the customer, never about us,” he says. “We build what suits the client, and we have the team to do it.” With decades of experience in architecture, underwriting, construction management, and deal structuring, Cawley Partners can build the spectrum. Most recently, the company announced plans to develop three, 500,000-square-foot, 17-story office towers at Grandscape. That announcement was quickly followed by Tate + Toll, another office tower campus planned for Frisco, located just off the Dallas North Tollway at Warren Parkway. “We are confident that companies returning to the office during the next few months will become more interested in providing the latest clean technology, touchless accessibility, and spacious environments,” Cawley says. After decades in development and experiencing firsthand the industry fluctuations, Cawley remains ever the optimist. “While the office market is evolving coming out of the pandemic, I’m certain Dallas will be one of the winners in the long run,” he says.
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16400 North Dallas Parkway, #150 Dallas, Texas 75248 972.759.7700 cawleypartners.com
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Left to Right: Karla Delgadillo, Marissa Perry, Jon P. Karp, Collin Tara
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Accounting WHITLEY PENN
his personal and professional goals as a trusted business advisor all the whitley penn’s primary mission has always been to provide while furthering the firm’s mission. exceptional service far beyond traditional accounting. The firm accomplishWhitley Penn is not only focused on the accounting industry of today es this by investing in a diverse group of professionals who add value to its but is dedicated to preparing for the industry of tomorrow. With the fuskillset and culture. Team members possess a vast amount of knowledge ture in mind, Whitley Penn continues to focus on expanding specialized and strive to develop, build, and maintain client relationships. These exservices, including business valuation, wealth management, strategic ceptional professionals are at the forefront of Whitley Penn’s mission as consulting, forensic litigation, risk advisory, transaction advisory, and they serve their respective industries. outsourced accounting. Through the uncertain times of COVID-19, Jon. P. Karp, CPA, PFS (tax partner) has led the charge of the Payment Protection Program (PPP) Whitley Penn’s investment in young professionals, commitment to edguidance not only in at Whitley Penn but nationally serving on the PPP ucation, continuous growth, and innovation provide a path of preparation Task Force for the American Institute of Certified Public Accountants for exceptional leaders to deliver an un-matched level of client service. “At Whitley Penn, we strive for nothing less than helping our clients and (AICPA). Karla Delgadillo (WP Edge manager) continues to develop and team members reach their business, professional and personal goals. build the firm’s outsourced accounting solutions group, WP Edge. Marissa As we continue to grow as a firm, we look forward to the future and the Perry, CPA (audit manager) is a rising leader in the audit practice who is possibilities we have yet to imagine,” Karp says. impacting clients throughout North Texas and beyond. Collin Tara (audit intern) has started his career in the firm’s audit Whitley Penn is prepared to support you and your department as an intern with the goal of achieving whitleypenn.com business locally and internationally for years to come.
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Left to Right: Jose Rivera, Eric Barnes, Brian Phillips, Wes Schreiber Not Pictured: Kevin Kramer, Brad Barton, Andy Kirby, Jeff Hobbs
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FAC E S O F
Construction DPR CONSTRUCTION
interiors, waterproofing, and more—scopes that are crucial for project efdpr construction takes pride in being a top general ficiency and agility. Their Self-Perform Work (SPW) expertise also allows contractor in Dallas-Fort Worth with a highly specialized, technical apDPR to optimize schedules, budgets, quality, and safety—just a few of the proach to healthcare, advanced technology/mission critical, life science/ factors that make them a differentiator in the industry. biomanufacturing, higher education, and commercial projects. DPR cusThese faces represent DPR’s experienced and specialized leaders who are tomers change the world we live in. They invent new technology. They discover and manufacture new medicines. They teach. They help heal the helping shape what technical and collaborative building looks like on every scale sick and deliver new life. in Dallas-Fort Worth. The team includes Jose Rivera (life sciences, 34 years), DPR puts solid stakes in the ground around the customers that they Eric Barnes (special services group, 21 years), Brian Phillips (commercial, 25 work for based on one key attribute: A focus on what they do best. It’s a years), Wes Schreiber (healthcare, 17 years), Kevin Kramer (commercial, 18 years), Brad Barton (advanced technology, 11 years), Andy Kirby (higher edsimple concept but one taken to heart. By sticking to what DPR knows and ucation/life sciences, 22 years), and Jeff Hobbs (self-perform work, 27 years). does best—assisting customers who have technically complex, sustainable needs—the company helps its customers build great things. At DPR, passionate, experienced, forward-thinking builders collaborate This level of technical expertise is provided on projects of all sizes, in a culture of “shared leadership” which makes it possible for unique from equipment replacements, to interior build-outs, to high-rise towers, strengths, skills, and voices to make an impact on how they approach each to greenfield campuses. At their core, DPR is a buildproject. DPR is a company of builders who exist to er (not a broker), with significant self-perform work build great projects, great teams, great relationships, 214.979.9900 capabilities, including concrete structures, drywall dpr.com and great value.
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Energy
J O N AT H A N G R A M M E R , P R E S I D E N T, G R A M M E R L A N D & E X P L O R AT I O N C O R P.
jonathan grammer, whose career began as a trial atand mergers and acquisitions, but also with solar development, wind entorney, has defined much of his career as a petroleum landman, handling ergy leasing, electrical transmission, and carbon capture—many times projects for clients operating the Midcontinent Region of the United within a few miles of each other,” Grammer says. “What our experiencStates. He is now focused on helping Texas move forward as the world’s es have shown us that I think sets us apart, is our understanding that all energy leader. energy industries--at present--are already interconnected. It gives us a With a staff of seven landmen at his company, Grammer Land & Exunique ability to assist companies both in land and legal, that are looking ploration Corp., and four attorneys maintaining licensing in Texas, New to develop in and around each other. The future for energy in Texas won’t Mexico, Oklahoma, and Colorado, through Grammer Law Group, P.C., be dominated by any one energy source over the other, but rather by the Grammer offers his clients acquisition and legal support in oil and gas deability of each to work together. The successful energy businesses in the generations to come will be the ones that embrace each energy source velopments, acquisitions, and divestitures. However, this is a landscape he for its benefits and try and find ways to share the stage for the benefit views as rapidly changing. With a branch office in North Dallas, and much of the state as a whole. We will never abandon our of his time spent in the air, on the road, or in West knowledge nor our affection for traditional oil and Texas, Grammer sees the future as a balance between 5310 Harvest Hill Road, gas but also want the state of Texas and the country tradition and progression. Suite 110 “In the past several years, either through our land to succeed globally in the years to come. We’re proud Dallas, Texas 75230 group or the law practice, we have had opportunities to be able to offer our land and legal services to those 806.881.5404 to be involved not only with oil and gas development grammerland.com in the energy industry who share this common goal.”
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Executive Search Firms B L A I N E L . N E L S O N , P R E S I D E N T & C E O, B L N E L S O N G R O U P
son’s growing company deploys proprietary software using algorithms when it comes to professional recruiting firms, often applied against databases to identify the “right people” who meet their referred to as resumé mills, where everything including the kitchen sink clients’ specific requirements. They are most often passive candidates is thrown your way to see what sticks, companies seeking high-quality rather than active candidates, meaning they are not actively searching and transformational talent struggle to find the proverbial needle in the for a new job or role. They are successful in their current job. BLNelson haystack. This is why many companies turn to BLNelson Group to fill key Group deploys scientifically developed “scripts” to generate a higher positions. Blaine Nelson, president and founder of BLNelson Group, says response rate from potential candidates. “Roughly six out of nine canthis about his company and cites it as the reason for success: “We are not didates who respond to us generally express an interest in exploring the recruiting to help our clients fill a chair. We are in the business of helping opportunity,” Nelson says. our clients find the right people to help achieve greater success.” Innovation. Performance. Reliability. This is the foundation of the busiA former managing partner for Deloitte, Nelson has an eye for talent that ness and Nelson’s promise to his clients. “Your people are not your greathis clients appreciate. His most famous recruit, when Nelson was chairest asset—the right people are,” he says. “I have sat in my clients’ chairs. I man of the board for the Dallas Symphony, is Jaap van Zweden, now the have made hundreds of hiring decisions. My promise conductor for the New York Phil. He also helps nearly to clients is that I will never send a candidate to them every candidate reformat their resumé to capture all 14160 Dallas Parkway, Suite 605 I wouldn’t hire myself.” their relevant experience and background. “It is not Dallas, Texas 75254 BLNelson Group differs significantly from tradiuncommon for our clients to struggle to choose which 469.965.1600 tional executive search and placement firms. Nelblnelsongroup.com candidate we refer,” Nelson says. “They want them all.”
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Family Law
AU B R E Y M E AC H U M C O N N AT S E R , M A N AG I N G M E M B E R , C O N N AT S E R FA M I LY L AW
intense pain. Connatser says, “At Connatser Family Law, our primary goal is the attorneys at connatser family law, led by founder to shepherd clients through the tumultuous divorce process efficiently and and managing member, Aubrey Meachum Connatser, are committed to achieveffectively with a clear, well-thought-out game plan and path to resolution.” ing desired results on behalf of you and your family. Their focus is on you and It is the attorneys’ experience, tenacity, and intuition that help keep their how to best serve your needs in each divorce, child custody case, pre- and clients focused on a better future. They regularly represent high-profile clients, post-marital agreement, custody modification, and collaborative law matters. those with successful family businesses, sizeable estates, and complex custody They are highly sought-after experts who are as strategic about settling cases as they are gifted at trying cases in court. They understand that divorce situations. In a divorce, you want someone who will listen, advance your goals, use looks different for each family and offer sage counsel and proactive plancreative problem-solving skills, and negotiate shrewdly and strategically on your ning based on each client’s individual needs and goals for their family. The behalf. This is why you want the attorneys at Connatser Family Law on your side. attorneys at Connatser Family Law bring more than 140 collective years of Connatser Family Law is a Tier 1 divorce firm. With a new location in experience to the family law arena. Each attorney at Connatser Family Law uptown Dallas, the firm continues to receive awards and recognition for its is widely known and respected throughout the state, is a leader in his or her impressive results. Connatser, Board Certified in Family Law by the Texas own right, and has received awards and recognition for Board of Legal Specialization, has been named among their excellent client service, impressive results, and The Best Lawyers in America (Woodward White), Best 2919 Welborn commitment to the community. Couples who are diLawyers in Dallas in D Magazine, Top 100 Attorneys in Dallas, Texas 75219 vorcing often describe the experience as turbulent and Texas, Top 50 Women Attorneys in Texas, and Super 214.306.8441 filled with extreme emotions, financial upheaval, and Lawyers (Thomson Reuters). connatserfamilylaw.com
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Family Office / Direct Investments
PAT N O O N A N , M A N AG I N G D I R E C T O R , H E A D O F T H E FA M I LY O F F I C E P R AC T I C E AT E A S T W E S T B A N K
as a former family office executive, pat noonan brings companies or assets held for investment purposes. Our clients have estabunique experience to East West Bank, one of the 25 largest publicly traded lished initiatives aimed at direct investments and appreciate our calls when commercial banks in the U.S. He previously was an advisor who led the direct we are introducing a new opportunity. And we are a potential partner for any situation where they are using bank financing.” investment initiatives for single family offices and was head of capital markets East West Bank appreciates the approach family offices bring to direct for a multinational company. With this background, his perspective is closely investing – flexible, patient capital and investment strategies unaffected aligned with the bank’s family office clients. by fundraising cycles. As investors of family capital, there is a keen focus Noonan’s Family Office Practice team assists clients across the U.S., offeron alignment of interests. The Family Office Practice brings owners and ing creative financing solutions for investments in operating companies and family offices together in a discreet manner that fosters these objectives, assets of various types. They also facilitate capital introductions through the and this often leads to financing opportunities for the bank. company’s broker dealer East West Markets, connecting family offices with “Our goal is to understand a client’s business better than anyone. When we business owners seeking growth capital or a buyer for their business. East put the effort in upfront, we find solutions that work for West Bank is a trusted referral source to family office both parties – delivering outcomes that our clients apprerelationships developed over three decades, and has 5001 Spring Valley Road, access to many of the largest family offices in the U.S. ciate. Since opening our Dallas office, our success has been Suite 825W “There’s a common misperception that our family a direct result of this approach. Our greatest achievements Dallas, Texas 75244 office practice involves wealth management,” Noonan are measured by the retention of our clients and the re214.517.7726 says. “It doesn’t. Our focus is on private investing, in eastwestbank.com ferral opportunities they bring to the bank,” Noonan says.
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Left to Right: Dave Scullin, President/CEO, Alfreda Norman, Board Chair
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Philanthropy
C O M M U N I T I E S F O U N DAT I O N O F T E X A S
as the largest community foundation in texas and one works with companies of all sizes to spark or grow a culture of generosity, of the largest in the nation, Communities Foundation of Texas (CFT) manage employee giving, and increase employee engagement. Through has a vision of thriving communities for all. CFT works with individuprograms such as Be In Good Company, CFT for Business, Educate Texas, als, families, businesses, and nonprofits to strengthen our community Emerging Leaders in Philanthropy, GiveWisely, the Live Oak Society, and through charitable funds and strategic grantmaking steeped in equity North Texas Giving Day, CFT helps individuals, families, and businesses maximize their generosity and impact. and connectedness across the areas of health, wealth, living, and learning. Helping donors create a legacy of giving is critical to creating sustainDuring the COVID-19 pandemic, CFT’s leadership of community relief efforts, such as North Texas Cares, North Texas Giving Day, the creation able, thriving communities. CFT’s Live Oak Society recognizes hundreds of 10 different relief funds, and the generosity of CFT’s donor-advised of individuals and families who are building that legacy today by includfund holders has helped mobilize and invest more than $200 million in ing CFT in their will or estate plans. Partnering with CFT ensures that the community through local nonprofits. your passion for philanthropy can be passed down to the next generation, CFT has awarded over $2 billion in grants to nonprofits since its foundwhile also ensuring that the nonprofits and causes important to you will continue receiving assistance beyond your lifetime. ing in 1953 and professionally manages more than 1,200 CFT staff experts are always available to help you charitable funds. CFT is committed to serving and un5500 Caruth Haven Lane think through what matters most to you and how derstanding donor needs, expertly handling complex Dallas, Texas 75225 that can align with your giving strategy and support gifts, providing giving guidance, and leveraging com214.750.4229 of nonprofits. munity knowledge to increase charitable impact. CFT CFTexas.org
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Left to Right: Staci Chambers, Kent Bearden, Jeremy Jones, BB Jorjadze, Jennifer Miller
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Private Clubs T OW E R C L U B DA L L A S
Jennifer Miller is your go-to for all things access and members-only invite discover where dallas’ leaders and change makers to this exclusive, but not exclusionary, city club. engage, entertain, connect, work, play, and stay. Tower Club Dallas is the city’s leading community for purpose, connection, and entertainment in Tower Club Dallas also enjoys award-winning style, perfect for hosting the heart of the downtown business district. From the Clubhouse on the any event with a sophisticated vibe paired with high-end Texas style with 48th floor of Santander Tower, members and guests enjoy unforgettable bold, modernized design. Whether you need an intimate boardroom for experiences overlooking breathtaking views. your next power meeting or the Cedars Ballroom for your charity gala, Tower Club Dallas is sure to exceed all your expectations with best-inFor Tower Club Dallas members, true community is created through enclass culinary, service, and personal touches led by director of private gagement in unique, high-quality programming that includes mentorship events, Staci Chambers. programs, VIP speakers, mastermind classes with scholarship opportunities, “There are few places where you can go to work, relax, or have a nice Boozy Brunch and Spirits education led by director of member experience, romantic dinner,” says Jhubin Moghaddamfar, a Tower Club member Jeremy Jones. Membership in this premier city club ensures an ideal place since 2019. “Over the course of the last year, Tower Club Dallas has transto make meaningful connections, entertain friends and associates, work formed into one of the best places in Dallas to dine on your swing in the BigShots Golf Lounge, and have a home-away-from-home remote office. In addition, and connect with like-minded professionals. Whether 1601 Elm Street, 48th Floor you’ll enjoy benefits beyond the Club as part of the it’s planning an event with some of the best views in Dallas, Texas 75201 ClubCorp family nationwide. Interested in what it Dallas or just meeting with a client over sushi, Tower 214.220.0403 takes to secure an invitation to become a member? clubcorp.com Club is equipped to handle and execute on every level.”
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Residential Real Estate C H A S E B R AY, B R O K E R /OW N E R , B R AY R E A L E S TAT E G R O U P
when it comes to residential real estate in texas, chase offices in Dallas, Houston, Austin, Lubbock, and San Antonio. He says the excitement he felt purchasing his first rental home in Lubbock more than Bray, broker/owner of Bray Real Estate Group, is the name to know. In the a decade ago continues with each real estate transaction he completes business for more than a decade, Bray began his real estate career early on today as he guides his clients in buying, selling, or leasing. “I love being a as an MBA student at Texas Tech University when he purchased his first rental property. After graduating with a B.A. from the Rawls College of Busipart of this incredibly innovative team,” he says. “It’s a young, hungry team ness at Texas Tech in 2012, he continued his passion of buying and leasing with a strong drive to help our clients. I still show homes to clients myself just because I love that feeling of helping people find their dream homes.” rental properties while completing his Master’s in Business Administration Bray and his family live in the Park Cities and frequently help clients in 2014. He quickly learned that a passion for real estate, combined with a buy and sell multi-million-dollar properties here, as well as Lakewood/ knack for sales, could lead him to a successful career as a REALTOR® and East Dallas and other coveted Dallas area neighborhoods. “I know this broker. By 2018, Bray opened his own brokerage, Bray Real Estate Group. area well and feel it’s important for everyone on our team to support the Today, his brokerage employs more than 40 agents who assist buyers and communities where we live and work,” he says. “Our sellers across Texas with most any real estate need. In 2020, Bray’s personal sales were $42 million, and he team represents the best and brightest in the industry, 4144 N. Central Expressway, is on track to sell more than $75 million in 2021. The and we’re always striving to lead the field in research, Suite 530 brokerage collectively reached $115 million in 2020 innovation, and consumer education. We have become Dallas, Texas 75204 and expects to sell more than $300 million in 2021. the trusted resource to guide them through the com972.374.9994 plex world of real estate.” The Texas native has grown his business to include brayreg.com
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DCEOMAGAZINE.COM
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SPECIAL ADVERTISING SECTION
FACES OF DALLAS BUSINESS 2021
P H OTO G R A P H Y BY B R E T R E D M A N
FAC E O F
Smart Home Security
W I L L I A M E . N I L E S , C H I E F E X E C U T I V E O F F I C E R , B R I N KS H O M E
2020 was a year of transformation for brinks home. as our people. Premium, platinum service is paramount to us, and we are people put more effort and thought into their homes, the smart home sestarting with the people.” curity industry grew. As customers worked with Brinks Home to improve The second part of the company’s transformation involves data analytics their smart security systems, internally, Brinks Home embarked on a search and big data. The goal is to become a progressive, data-consuming organifor new key executives, making critical hires who will propel the company zation where machine learning and aggregated business analytics combine even further. “We are thrilled with the group,” says William Niles, chief to offer real-time insights. “People, culture, technology, and brand—it’s a powerful combination,” Niles says. “Our third pillar was to establish a executive officer of Brinks Home. “We had a vision for what we could be— what we could achieve and accomplish. When you focus on the people, you brand strategy. Our brand is a premium brand predicated on a best-in-class can change the company culture and its trajectory.” customer experience. It drives everything we do.” This focus on people includes an emphasis on diversity and inclusion Brinks Home’s customers will have a higher-touch experience from the across the organization. For example, the new chief people officer has a company because of these changes, which include improving customer background outside of HR, which has enabled holistic insights and ideas interactions through the user experience in the Brinks Home app, and on recruiting and retaining the best employees. “We are in the business other updates. “We are better at anticipating our customers’ needs,” of serving, and serving includes safety and security,” Niles says. “Our Niles says. “We are asking ourselves how to make our products easier new leadership team is in line with our brand philosophy of delivering to use and more intuitive. These things don’t happen overnight, and we platinum-grade protection and a terrific customer still have work to do, but our goal is to continue to make it easier to do business with us.” experience. Providing 24/7 peace of mind starts with brinkshome.com
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FACES OF DALLAS BUSINESS 2021
Left to Right: Mary Liz Guidry, MBA, CFA; Cassie Guerrero, MS, CFP®; Chris Rachfal, CFA; Brian Cloud, MS, CFP®; Laura Maxfield, CFP®; Brent Anderson, CFA; Kelvin Murphy, MBA, CFP®
P H OTO G R A P H Y BY B R E T R E D M A N
FAC E S O F
Wealth Management / Financial Planning R GT W E A LT H A DV I S O R S
in the competitive space of rias and wealth management, In an industry that is constantly evolving, it is incumbent upon business RGT believes the most under-asked question by prospective clients is, owners to continually adapt by helping clients be secure in the knowledge “Can you tell me about your succession plan and your next-gen talent?” of who will serve them and their families – not just today or tomorrow, but RGT Wealth Advisors was founded over 35 years ago. The firm’s leaders 20 or 30 years from now. have steered the firm through a myriad of economic and business environWith this in mind, RGT has focused deeply on optimizing talent acquisition with a focus on succession and maximizing the careers of the firm’s ments during the last several decades. Most people who come into the wealth people. The firm has already begun to transition much of the day-to-day management business as registered investment advisors (RIA) begin as practitioners. RGT believes to truly fulfill their roles as fiduciaries and support their responsibility for managing the firm’s business and its clients to Gen2 ownclients’ long-term goals, they need to be sure they are a firm that can serve ers. The cool thing is, this has happened while RGT’s founders and Gen1 them long-term. That means a robust and comprehensive approach to sucleaders are still an active part of the business. This is unique in the RIA space, where often founders sell and leave, or in some cases, hold on too cession planning. It takes a mindset akin to planting trees founders will never tight, stunting careers of their next gen…or worse, causing them to leave sit beneath the shade of, but generations of their clients and colleagues will. for better career paths. RGT’s leaders work on the business of the future as RGT has focused on a robust and healthy apprenmuch as they work in the business today. They have 5950 Sherry Lane, #600 tice-style transition that has helped further careers disciplined themselves to look far down the road and Dallas, Texas 75225 and prepare for the future of client service. plan for the future of the firm, whether they are a 214.360.7000 So, here they are. Meet RGT’s Gen3! part of it or not. rgtadvisors.com
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4/12/21 11:01 AM
EXCELLENCE IN HIGHER EDUCATION Dallas Baptist University joins D CEO, Dallas CPA Society, Financial Executives International, and the Association for Corporate Growth in recognizing Dr. Matt Murrah, Vice President for Financial Affairs for excellence in financial leadership. For over 100 years, Dallas Baptist University has sought to produce servant leaders whose mission is to transform the world. DBU has increased its campus facilities, raising more than $125 million for some 30 building projects, all of which are totally paid off. DBU offers over 30 master’s degrees and two doctoral degrees, including an MBA in Finance, MS in Management: Supply Chain, Master of Arts in Leadership, and Ph.D. in Leadership Studies. DBU’s business programs are accredited by the Accreditation Council for Business Schools and Programs (ACBSP).
www.dbu.edu/graduate
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DFW BUSINESS LEADERS
NEXT LEVEL:
Fritz and Tara Harper Rahr created a charity to formalize their longtime support of rescue dogs.
G R E AT E R G O O D
P H OTO G R A P H Y BY S E A N B E R R Y
RAHR TO THE RESCUE HELPS DOGS GET ADOPTED, ONE BREWERY EVENT AT A TIME.
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fritz rahr, founder of rahr & sons brewing Co. in Fort Worth, has always had a heart for dogs. That love was deepened when he met his wife, Tara Harper Rahr. Early on in their relationship, Tara told Fritz she was going to drive eight hours (round trip) to collect a neglected German shepherd. He volunteered to join, and Tara soon realized his passion for rescuing animals was real. The couple formalized their longtime support this past March by creating a new 501(3)(c) charity called Rahr to the Rescue. Their aim is to raise money to help find forever homes for furry friends and aid organizations that help shelter, rescue, and arrange adoptions. Fritz explains: “We created our charity group with the hope of creating awareness and rescuing as many dogs as we possibly can. We partner with Fort Worth Animal Control, Dog & Kitty City, and a few others around town; they bring in dogs that they have at their shelters. A lot of dogs have been there for extended periods of time; we focus on those dogs and try to get them rescued. Our events might have a type of theme or something fun that goes along with it. For example, before the Thanksgiving and
Christmas holidays, we offered photos with Santa Claus at the brewery. We fund a lot of this on our own, but now people will be able to make donations to help host these events and to ease the suffering of dogs by providing dog food, kennels, blankets, anything that we can possibly donate to shelters around town. “Medical is one of the biggest challenges; many times, dogs will get hurt, but no one wants to adopt them because there’s a price tag associated with providing medical care. So, a lot of times, we’ll pick up the medical costs or help raise money to provide care to save that dog and hopefully get it into a private home. “There are so many adoptable dogs out there. If you just took a little time, you can find almost the exact same dog that you would want to get from a breeder. I would encourage everyone to take the time to go out and do your due diligence, do some research, look at what dogs are in the shelters. It really is painful to see a dog wandering the streets alone and the suffering that dog goes through. Just to find a home for some of these dogs that have been through so much—it makes me so happy.” —As told to Maria Hieber
A L E TA L E
A Long History of Brewing Fritz Rahr was destined to get into the craft beer business. His great-greatgrandparents, William and Natalie Rahr, began making beer in America in 1847, not long after immigrating to Wisconsin from Rhineland, Germany. A century-anda-half later, Fritz, a TCU grad who studied the art of brewing in Germany at the Siebel Institute in Chicago, opened Rahr & Sons Brewing Co. in downtown Fort Worth. His beers range from Rahr’s Blonde (Helles lager) and Dadgum IPA (India pale ale) to Texas Red (American amber) and the amusingly named Adiós Pantalones (beer with lemon and lime).
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PUPPY LOVE
The Rahrs help shelter dogs get adopted and have taken in a variety of pups of their own.
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4/12/21 4:41 PM
Methodist Health System offers a BIG CONGRATULATIONS to Craig Bjerke for being selected as a finalist in the 2021 D CEO Financial Executives Awards.
Craig Bjerke Chief Financial Officer
“We are so proud of Craig and all he does to support the Methodist Health System mission. He is a remarkable CFO and leader, and even more remarkable person. Thank you and congratulations on behalf of the entire team.” James C. (Jim) Scoggin, Jr., Chief Executive Officer, Methodist Health System
Methodist Family Health Centers and Medical Groups are owned and operated by MedHealth/Methodist Medical Group and are staffed by independently practicing physicians who are employees of MedHealth/Methodist Medical Group. The physicians and staff who provide services at these sites are not employees or agents of Methodist Health System or any of its affiliated hospitals.
FEI Dallas Congratulates all Finalists of the D CEO 2021 Financial Executives Awards Join Today | www.financialexecutives.org/join
Special Recognition to FEI Members:
Rick Bollar - Financial Executives International Fort Worth Weslie Brittin - Ability Connection David Brown - Authentix Allan Frank - HomePro Operating Dan Hollenbach - BGSF Miguel Molina - Avocados From Mexico
FEI Dallas Sponsors: Jim Penn - Whitley Penn Robert Watling - University of Dallas North Texas’ largest, most welcoming assembly of business leaders in finance, helping each other excel.
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RED TRESSES
SNAPSHOT
Sarah Snetzer says she uses purple lowlights to accentuate her natural red hair.
ART OF STYLE
FOR ON-THE-GO HEALTHCARE STAFFING EXEC SARAH SNETZER, FLEXIBILITY IS KEY. WHAT I DO: “I run daily operations for Sadiant Health, an on-demand app and web-based clinician staffing firm.” STYLE ICON: “Michelle Obama; she is a risk-taker and loves to experiment with fashion. She emphasizes function and affordability over form, and she always looks classy with a little bit of edge. I love that mix.” ON THE JOB: “I am always on the go, and no hour in the day is the same. I could be with a customer, working alongside our operations team, or running a technology demo with a prospect. This variety requires my clothing to be both yoga-pant comfortable and fashion-forward.”
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STYLE STRATEGY: “I love tops that can be easily dressed up and down, and I love dresses with pockets. Pearl earrings and the right shoes can completely change my outfit from Zoom-call to customermeeting appropriate.”
STYLE ESSENTIALS: “I never leave home without earrings, mascara, and an extra blouse. I’m always prepared, just in case a drink spills on the way to an important meeting. I believe in always having a plan B!”
GO-TO LOOK: “Dressy dark jeans with a long, monochromatic blouse and boots. My favorites are Frye cowboy boots. Having been born and raised in Texas, these are essential.”
STYLE DEFINED: “Urban essential. I love M.M.Lafleur; every piece is modern and extremely comfortable.”
HOW I ACCESSORIZE: “I always wear earrings and simple, small necklaces. I am not into a lot of bling or flash. And
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because I am a redhead, I try to accentuate that with purple lowlights. My colorist Michael Beckett is great with redheads.” DOWN-TIME LOOK: “I love to exercise and practice yoga; so, in my spare time, you’ll find me in yoga pants and tops. I also love the TIEM shoes that I use for my Peloton, which I ride every day to help with stress.” FAVORITE STORES: “M.M.LaFleur and Beyond Yoga for every day. I also love small boutiques like Scout and Molly’s at The Shops at Legacy in Plano and Sunny Paige in downtown Frisco.”
When Hurricane Erin hit eastern Florida in 1995, a teenage Brendan McGuire (now president of PNC Financial Services) and two friends were finishing dinner shifts at a local restaurant. As the storm approached, the trio headed for the beach. “We changed into board shorts and ran into the water with our bodyboards, screaming like maniacs,” McGuire recalls. “The waves were crashing violently. It was a battle to get out to where they were breaking.” He caught a wave back to the coastline, where he was thrown onto the sand, causing an abraision above his eye. “I was bleeding and rolling over, gasping for air,” he says. “When I looked up, I saw my buddy. We high-fived then went back in.” McGuire still surfs today. “Surviving that experience was definitely a confidence booster. Even now, if I’m in the water, I’ll find ways to challenge myself.”—Mariah Terry
P H OTO G R A P H Y C O U R T E S Y O F S A R A H S C H N E T Z E R A N D B R E N D A N M C G U I R E
PNC President Brendan McGuire’s frightening experience surfing in a tropical storm.
SURFER DUDE
Dallas banking exec Brendan McGuire has been riding the waves ever since he was a teen in Florida. DCEOMAGAZINE.COM
4/7/21 1:02 PM
RECOGNIZING LEADERSHIP OUT S TA ND ING
HilltopSecurities is proud to congratulate Chief Financial Officer Mike Edge as a finalist for Outstanding CFO in DCEO’s Financial Executive Awards. Thank you for continuing to build on our 75-year legacy of leadership and innovation in the financial services industry.
© 2021 Hilltop Securities Inc. All rights reserved.
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W O R L D W I D E LO CAT I O N S
United States, Europe, Middle East, Asia, Latin America
4/8/21 11:06 AM
OFF DUTY
SUITE VIEWS
A 2,500-squarefoot grand oceanfront suite at Hilton’s Conrad Punta de Mita sleeps four.
EASY-BREEZY
Kupuri Beach Club near Litibu Bay offers a calmer, familyfriendly option for seaside fun and snorkeling.
W E L L T R AV E L E D
This exclusive peninsula on the Pacific is a favorite retreat of Will Coleman, CEO of rideshare company Alto. story by KELSEY J. VANDERSCHOOT
AL FRESCO
Mezquite at Conrad Punta de Mita offers local dishes and fresh seafood right on the beach.
ON THE WATERFRONT
Pacifico Beach Club offers plentiful dining, swimming, and cocktail options.
REST & REBIRTH
GOLF GLORY
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Punta Mita’s Tail of the Whale, designed by legend Jack Nicklaus, is the only natural island green in North America.
The Temazcal at Conrad Punta de Mita is used for curative sessions that purify and heal the body.
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P H OTO G R A P H Y C O U R T E S Y O F C O N R A D P U N T A D E M I T A , B R O N W Y N K N I G H T , A N D P U N T A P I T A ; C O L E M A N BY J A K E M E Y E R S
Punta de Mita, Mexico
OFF DUTY
PRIVATE PARADISE
P H OTO G R A P H Y C O U R T E S Y O F C O N R A D P U N T A D E M I T A , B R O N W Y N K N I G H T , A N D P U N T A P I T A ; C O L E M A N BY J A K E M E Y E R S
Punta Mita, a gated resort area on the larger Punta de Mita peninsula, includes a number of luxury residential communities.
H
home to gated luxury communities and resorts such as Conrad Punta de Mita, Four Seasons, and St. Regis, the Punta de Mita peninsula in northern Mexico has seen explosive growth in the past decade. Named for an Aztec word meaning “gateway to paradise” and about 25 miles north of Puerto Vallarta, Punta de Mita is on track to welcome at least two new hotels and several residential expansions in the next five years. On recent trips, we visited a debut property from Hilton, the Conrad Punta de Mita, and the Tau Residences, a new collection of condominiums from Mexican real estate giant DINE. Conrad Punta de Mita pays homage to the region’s rich multicultural identity and the native Huichol, who believed the peninsula to be a retreat for spiritual renewal. A relaxing massage at the indoor-outdoor spa was memorable, but the temazcal, a heated stone dome used in indigenous cultures’ ceremonies to purify the body and spirit through heat, was life-changing. The resort features a number of dining options, from fresh catch of the day served oceanside at the hotel’s coconut charcoal grills to an agave spirits tasting and dinner pairing.
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DINE’s Tau Residences, which list for as much as $3.4 million, lie within the 1,500-acre Punta Mita gated resort segment of the peninsula. All of the community’s condominiums and villas are privately owned, but many are subleased for seasonal stays. Our three-bedroom oasis provided panoramic views of waves and wildlife. We relaxed in the heated infinity pool while watching surfers, boats, and ferries to neighboring Islas Marietas National Park, home to Playa Escondida, a hidden beach that’s limited to about 115 people per day. The oceanside Pacifico Beach Club is a standout dining option. Its pools, restaurant, and bar overlook the Tail of the Whale—a hole on one of the area’s two Jack Nicklaus-designed golf courses and the only natural island green in North America. Try the Tacos Gobernadores, filled with warm shrimp and cheese and served with guacamole and adobo sauce. Another excellent venue is Sufi Ocean Club, where I feasted on the Fisherman Trio—grilled octopus, the catch of the day, and muscles in pesto sauce. Mexican coffee is a must for dessert, a delectable blend of tequila, coffee liquor, and coffee, served in a sugar-rimmed cup and topped with whipped cream and a maraschino cherry. For surf lessons, I ventured to Bahía de Banderas. My instructor provided tips for riding the waves, gently correcting me with each attempt I made. I recovered with a relaxing massage at Kupuri Beach Club. Situated on Litibu Bay, the area is a great choice for snorkeling. We enjoyed a leisurely breakfast the next morning, cooking at home with groceries delivered to the condo before heading out for a whale-watching tour. I had seen the region’s massive humpback whales breaching WATER COLORS The Punta de Mita from the pool and was awed peninsula is surrounded by the Pacific Ocean, by their beauty during the Litibu Bay, and the two-hour, up-close boat ride. Bahía de Banderas. A lobster dinner at the St. Regis’ Mita Mary Boat (start with chips and salsa, aptly named La Matona, or “the bully”)—closed out the wonderful trip, and Punta de Mita’s onsite COVID testing made preparing for the journey back to the U.S. from Puerto Vallarta a breeze.
T R AV E L T I P S
Time Away for Fishing and Family Will Coleman, CEO of luxury rideshare company Alto, grew up in Dallas, just five miles from his now-wife, Kendall. Despite this, their first date was in Puerto Vallarta. Nearby Punta de Mita has become a favorite vacation spot for the couple and their children. “It has always had a special place in our hearts,” he says. Coleman especially enjoys fishing in the Bahía de Banderas. “During the winter, one of the popular things to do is fish for roosterfish; it’s a really fun fishing expedition because they swarm in these pods, and you chase them around,” he says.
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TEAM SPIRIT
Fred Perpall (top row, center) as a freshman basketball player for the University of the Bahamas.
SCHOOL DAYS
Perpall as a young student in the Bahamas. He grew up in Nassau on the island of New Providence.
ROOTS
FRED PERPALL CEO THE BECK GROUP
POINT OF PRIDE
as told to CHANCE TOWNSEND illustration by JAKE MEYERS
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P H OTO G R A P H Y C O U R T E S Y O F T H E B E C K G R O U P
Perpall helped
design Princess fred perpall, ceo of the beck Margaret Hospital Group, grew up in the Bahamas in in his home country. Nassau. He immigrated to the U.S. to play basketball and run track at The University of Texas at ArlingThe Beck Group as an architectural intern 22 ton, where he earned a master’s degree in architecture. He joined Beck at the age of 24 and years ago, in 1999. I’ve been CEO for eight years now. In 2016, I was able to work with the city now leads the global design-build firm, based government in Nassau to design a hospital. It in downtown Dallas. Among his most memorawas a really big point of pride for me to be inble projects? Helping to bring a new hospital to his home country. Here, he shares his journey: volved with working to improve the delivery of healthcare services. My mother passed away in “Most people in the Bahamas either work for an airline, or hotel, or restaurant. I worked in the hospital while we were building an expansion that had the services she needed. I think the kitchen of a cafeteria. By serving and lookthat was a sign from God to me. It was an oping after tourists, it becomes pretty ingrained in portunity for me to return to where I’m from, your culture that you have to be attentive to the to increase the efficacy of the healthcare system, needs of others. I moved to Texas in 1993 to atand to bring my skills back with me to help imtend school. It was jarring to grow up in a counprove the lives of others. That’s something that’s try where everyone looks like you and then come been a personal passion for me.” to a place where no one looks like you. I joined
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4/7/21 12:40 PM
D CEO 2021 FINANCIAL EXECUTIVE AWARDS FINALISTS
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THANK YOU TO OUR 2021 SPONSORS FROM NAIOP NORTH TEXAS PLATINUM CIRCLE TRAMMELL CROW • GRANITE PROPERTIES • HILLWOOD • PLAINSCAPITAL • PROLOGIS ARCH-CON CORPORATION • KE ANDREWS • FA PEINADO • CLX VENTURES • MUNSCH, HARDT, KOPF & HARR JLL • DUKE REALTY
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Making Margarita History MARIANO MARTINEZ JR. August 5, 1944–present
story by CHANCE TOWNSEND
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COURTESY OF M A R I A N O M A R T I N E Z J R .
END MARK
COOL CONCOCTION
Cinco de Mayo revelers can thank Dallas’ Mariano Martinez Jr. for inventing the frozen margarita.
ariano martinez jr. was born in 1944 in what was
known as the Little Mexico neighborhood of Dallas. In the 1950s, his father, Mariano Martinez Sr., opened a Mexican restaurant called El Charro. Texas law at the time prevented him from selling liquor by the drink, so he’d mix up margaritas for patrons who brought their own tequila. In 1971, Mariano Jr. opened a restaurant of his own, Mariano’s Mexican Cuisine, and used his father’s margarita recipe. When bartenders couldn’t keep up with demand for the wildly popular drink, complaints about its consistency arose. Inspired by 7-Eleven’s Slurpees, the younger Martinez bought and adapted a used soft-serve ice cream machine to mass-produce frozen margaritas. The newly adapted recipe was an instant success and helped launch a Tex-Mex comeback in the late 1970s and early 1980s—extending the Martinez family’s influence on the cuisine. Today, Mariano Jr.’s first frozen margarita machine resides at the Smithsonian in Washington D.C.
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A MONTESSORI SCHOOL TELLS ITS OWN GROWTH STORY
THANKS TO
Texas Capital Bank takes great pride in helping entrepreneurs and business owners realize their dreams. By providing capital and business expertise to privately held companies, we’ve grown into one of the most successful banks in the U.S. What can our bankers do for the business that you built?
Commercial Banking www.texascapitalbank.com Texas Capital Bank, N.A.
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