David J. Mahmood | May 23, 1938 – April 3, 2018


It is with a sense of deep sorrow and sadness we report the passing of David J. Mahmood, Founder & Chairman of Allegiance Capital Corporation.  David passed peacefully on Tuesday, April 3rd, 2018.

David was a self-described “serial entrepreneur,” corporate leader, and industry icon. At age 60, David, and his wife, Connie Mahmood, together launched his eighth business, Allegiance Capital Corporation.  Allegiance grew to become one of the largest middle-market investment banking firms in the southwest.  With over five decades of experience, ranging from Fortune 500 companies to entrepreneurial start-ups, David was the consummate dealmaker who managed hundreds of complex, multi-million dollar transactions around the world. David’s entrepreneurial experience, marketing savvy, financial acumen, and strong negotiation skills enabled him to engineer transactions that exceeded his clients’ expectations. Having celebrated its 20th anniversary, Allegiance Capital, under the leadership of David Mahmood, established a reputation for exceptional results.

David’s enduring influence and mentorship was integral in launching the careers of many investment banking professionals. He has served on numerous boards and industry groups and has received many honors, most recently as one of the “Top 500 Most Powerful Business Leaders in Dallas.”

David’s spirit will continue to live on through all of the lives he has touched, guided, inspired, and changed. May he rest in eternal peace.