John Langston, founder and CEO of Republic Capital Group, and his wife, Candace, a vice president with the company, have made a “significant” donation to The University of Texas at Austin’s McCombs School of Business.
The donation establishes a permanent endowment to support initiatives around student education, academic research, industry partnerships and community outreach at the renamed Langston Wealth Management Center, according to a news release from Republic Capital Group, which did not disclose the amount of the donation.
“Candace and I strongly believe that the wealth center, being part of an elite business school, will produce a much higher-level program and, therefore, a much higher-level graduate,” John Langston said. “The opportunity to invest in the next generation of wealth management leadership was a chance to help fulfill our purpose in life. We just couldn’t pass it up.”
New York-based Republic Capital Group is an independent investment bank with branches in Dallas, Houston and West Palm Beach, Florida. Republic Capital handled transactions for over $150 billion in assets in 2022-2023. In 2023 it was named Boutique Investment Banking Firm of the Year by The M&A Advisor and received the organization’s M&A Deal of the Year award.
The couple in 2022 co-founded the John and Candace Langston Fellowship at McCombs, which is awarded annually to newly admitted high-achieving students in the wealth management program.
“John and Candace are fascinated with the potential they see at McCombs to help transform an industry, and their incredible generosity will help us realize that potential,” said Ramesh Rao, the center’s director and a professor of finance at McCombs. “After catching our vision, John called me and said, ‘Let’s go to town and make this program the best in the country.’”
Rao said McCombs takes a much broader approach than most business schools, which emphasize financial planning in their wealth management programs. “Unlike many schools, our wealth management students graduate with a BBA degree that encompasses a comprehensive understanding of wealth management, including accounting, taxation, financial markets, and intergenerational wealth transfer,” he said.
“Additionally, we place a strong emphasis on technology, investment in innovation, and advanced soft skills — essential for thriving in today’s dynamic industry. The industry is in need of reform, and we’re equipping our students with a robust foundation to become leaders in driving that change,” Rao said.
The average wealth management professional is 57 years old, Rao noted, so many in the industry are nearing retirement. “There’s an enormous demand for young talent, but not just talent: These companies are looking for students with gravitas,” he said. “The country’s most prestigious firms are hiring our interns, and they tell me they’re the best they’ve ever seen.”
