History Tracey

Hovde Group’s origins date back to 1987, when Donald Hovde, former Undersecretary of the U.S. Department of Housing and Urban Development, and a member of the Federal Home Loan Bank Board, together with Eric Hovde, established Hovde Financial, Inc., to provide community and regional banks and thrifts with M&A and strategic advisory services. Drawing from years of experience in the banking sector, the Washington, D.C.-based team quickly grew into an industry-leading provider of investment banking services to financial companies.

In 1988, the firm opened its second location in Chicago (where the company is now based), under the leadership of Steven Hovde, who joined his father and brother at the firm following a career in accounting, real estate, and law. In 1989, Hovde Securities LLC was created to support the investment banking operations of Hovde Financial by providing services in the areas of capital raising, private placements, underwriting, trust preferred securities, mutual-to-stock conversions, and other advisory services.

In 1994, in order to capitalize on investment opportunities in the financial services sector, the firm’s partners organized Hovde Capital, which oversaw the Financial Institution Partners series of hedge funds, focused on financial services and real estate opportunities. Also in 1994, Hovde Acquisition LLC was formed as a merchant banking organization to capitalize on strategic control and non-control positions in banks and thrifts. In subsequent years, new offices were opened – on the West Coast in 1995, in Florida in 2002, and in Texas in 2007 – to further support the firm’s investment banking operations.

In 2004, the principals of the firm formed Hovde Private Equity Advisors, a private equity firm focused on investments in the financial services sector. Hovde was among the first U.S.-based private equity firms to receive a shelf-charter from the OTS to pursue failed bank acquisitions, and in 2009, was the first to complete an acquisition of a failed institution from the Federal Deposit Insurance Corporation (FDIC). In 2013, Hovde Financial and Hovde Securities became Hovde Group.

Hovde Group embarked on a major expansion initiative in 2014, more than doubling in size in an effort to add new, complementary business lines to its industry-leading investment banking advisory practice. The firm established an equity research and trading platform, and added significantly to its equity sales and capital markets advisory practice, and in 2017, launched a new effort to advise specialty finance companies. Today, Hovde Group remains among the bank and specialty finance sector’s top advisory firms, is a leading market maker of community and regional bank stocks, and produces independent, high quality research from award-winning analysts.

Hovde Group has successfully participated in over 390 transactions valued in excess of $25 billion over the last 30 years.

View Recent Transactions

Culture & Values

Although Hovde Group has grown considerably over the last few decades, our small-firm roots are still evident in the way we conduct business and treat our clients. We foster a collaborative environment and encourage diverse opinions and continuous dialogue so that we reach the “right” result for our clients. Moreover, each of the Hovde team members work closely together to develop innovative solutions and are able to see the direct benefits of their efforts in the achievements of our clients. This creates a culture in which Hovde employees feel valued for their contributions to the success of the business.

Since our firm’s founding, a constant set of values has guided our business. Our Guiding Principles help define our culture and provide direction to team members on what is important to our continued success and ultimately, the success of our clients.

Guiding Principles

Hovde Group is committed to developing and delivering services that result in value creation and useful solutions for its clients. Integrity guides us in everything we do — we strictly adhere to a set of moral values and principles.

Our Guiding Principles

  • Always remember – we work as a team.
  • Confidential information will remain confidential.
  • Productivity and efficiency are of the utmost importance.
  • Be open, straightforward and direct – but always be respectful.
  • Don’t avoid problems.
  • Approach our business with intensity, integrity and passion.
  • Ethical and legal behavior without compromise
  • Accountability and professionalism in all deliverables
  • Trust as a foundation for all relationships
  • Fiscal responsibility to ensure our client’s interests are protected
  • Give to others who need your help.
  • Have fun.

Our commitment to excellence includes:

  • Professionalism
  • Customer orientation
  • Resourcefulness
  • Effective use of technology
  • Innovation
  • Teamwork
  • Continuous learning