E. Javier Loya is a Mexican-American Business Entrepreneur. Javier Loya was the co-founder of OTC Global Holdings, a commodity brokerage, found in 2007. Since its inception OTC Global Holdings has grown to become of one of the largest independent commodities interdealer brokerages in the world.
E. Javier Loya | |
|---|---|
 | |
| Nationality | Mexican-American |
| Other names | Javier Loya |
| Alma mater | Columbia University [1] |
| Occupation(s) | Chairman and CEO of OTC Global Holdings |
| Years active | 2007–present |
| Known for | CEO of OTC Global Holdings, Minority Owner of Houston Texans |
| Spouse | Lucinda Vincent-Loya |
| Children | 2 |
Summary
Javier Loya grew up in El Paso, Texas as one of seven siblings in his family. His father worked in a clothing manufacturing plant and taught his children the importance of education. [2] Javier had attended the prestigious Columbia University. Post graduation, Javier had become a founder in the energy brokerage company Choice! Energy. He became a millionaire at 26 years old and purchased control of the company in 2000.
In 2002, Javier had become minority owner of the Houston Texans as principal owner Bob McNair was looking to add a diverse group of investors representative of the Houston community. [3]
In 2007, Javier co-found OTC Global to become one of the fastest growing commodity brokerages.
Achievements
Javier is a Houston based entrepreneur; he was widely recognized by the community for his achievements such as being declared “Entrepreneur of the Year” in 2002 by the Houston Hispanic Chamber of Commerce. In 2004, Javier was named as “Hispanic Businessman of the Year” by the United States Hispanic Chambers of Commerce, additionally in the same year Javier was given the John Jay Award for distinguished professional achievement from his former university, Columbia University. In 2007, Javier was honored as an “Emerging Leader” by the Greater Houston Partnership. In 2010, Javier was awarded the “Entrepreneur of the Year” Award by Ernst & Young, often recognized as the highest honor in the business world. [4]
Additionally, Javier has served on the Board of Regents for Texas Southern University as well as other charitable foundations across Houston. [5]
Education and Family
Javier graduated from New York City’s Columbia University with a Bachelor of Arts in Political Science in 1991. Javier married Lucinda Vincent (Now Lucinda Vincent-Loya) and has 2 children. [6]
Football Career
Javier is very passionate about football, he played for the Columbian Lions as a linebacker throughout his academic career at Columbia University. Post-graduation, Javier dedicated his time and resources to giving back to his athletic community in his hometown El Paso, Texas. [7]
Javier is actively engaged with the Greater Houston Football Senior Showcase, a charitable organization that has generated over $100 Million in scholastic aid for more than three-thousand participants since 2008. [8]
In 2011, Javier found the Greater El Paso Football Showcase Combine, which gave out over $9 Million Dollars in scholarships to over 100 high school seniors. [9]
In 2017, Javier Loya was honored by the Ivy Football Association at its bi-annual at the Sheraton New York Times Square Hotel. Loya, along with representatives of the seven other Ivy League schools were honored by the organization as distinguished graduates. [10]
Choice! Energy LP
In 1994, Javier co-founded Choice! Energy LP with two partners. Choice was an energy brokerage firm specializing in natural gas.
In 2000, Javier had purchased control of the company from his partners.
In 2002, Texas had deregulated the Power Market, causing Loya to launch a new firm -Choice Energy Services. As the sole owner of Choice Energy Services, Loya was able to expand his expertise from wholesale markets to retail commodities management. [11]
Choice Energy Lawsuit – Javier Loya’s company, Choice Energy, filed a lawsuit against 9 of their brokers for breach of contract, however the 9 brokers filed a countersuit claiming they were forced to resign due to unpaid commissions and hostile work environment. All but one broker settled out of court. During this lawsuit, Javier was accused of being a High Stakes Gambler. Which sparked an investigation from the NFL due to Javier’s ownership of the Houston Texans. [12][13][14]
Houston Texans
In 2002 Javier became the first Hispanic owner in the NFL with his purchase of a minority stake in the Houston Texans. Javier was one of 10 investors in the Houston Texans. [15]
OTC Global Holdings
In 2007, Javier co-found OTC Global Holdings as a commodity brokerage that initially acquired Choice Natural Gas, Choice Power, and Choice Energy. OTC Global Holdings has become a powerhouse in the commodities industry as it soon grew to service over 450 institutional clients and have offices around the world from US based Locations in Houston, Chicago, New York to London, Geneva, and Singapore. [16][17][18]
In late December of 2019: John Klosek, one of the founding members of OTC Global Holdings, filed a lawsuit against the CEO Javier Loya, COO Joseph Kelly, and several employees. The lawsuit was over extravagant spending, sending the company to a negative net worth.
Loya and other accuses denied the allegations. Below are the examples of excessive spending according to the lawsuit:
- Charging $17,000 on a corporate credit card for his daughters 16th birthday party
- Spending $4,000 dining out in high-end restaurants multiple times in the same week.
- Charging up to $2.7 Million to OTC between January 2018-October 2019 on professional basketball, football, and baseball tickets
- Loya and Kelly are accused of unauthorized payments to themselves in upwards of $4.2 Million in interest-free, unsecure loans.
The claims go as far to state the defendants have embezzled over millions of dollars from OTC Global’s revenue as their personal bank account. The lawsuit is currently on-going.[19][20]
Veneno Tequila
In September 2019, Javier and his wife Lucinda and several Houston entrepreneurs launched a tequila brand called Veneno Tequila. The event featured free tequila tastings, food, cocktails and a DJ. Actor Danny Trejo was the first person to introduce and drink the bottle of tequila. [21]
References
- ^ "Javier Loya interview from 2015 Connects in Houston". August 3, 2016.
- ^ "Celebrating Transformative Experiences". October 7, 2015.
- ^ "Four Houstonians to know and hundreds of energy execs". November 9, 2015.
- ^ "LUCINDA AND JAVIER LOYAHOUSTON TREASURES FOR 2013".
- ^ "Perry picks 5 appointees to reshape TSU". May 10, 2007.
- ^ "FEATURES - Javier Loya '91". January 2003.
- ^ "Part-owner of Houston Texans still giving back to El Paso's student-athletes". December 14, 2017.
- ^ "Ivy Football Association Honors Javier Loya". January 26, 2017.
- ^ "Ivy Football Association Honors Javier Loya". January 26, 2017.
- ^ "Ivy Football Association Honors Javier Loya". January 26, 2017.
- ^ "Houston power co. to go on hiring spree, move headquarters". October 4, 2016.
- ^ "NFL Probes Allegation Against Texans Partner". February 16, 2008.
- ^ "Court of Appeals of Texas,Houston (14th Dist.) IN RE: CHOICE! ENERGY". October 20, 2010.
- ^ "What a Gas! Texas Mogul Streams $4.3 M. to Moby and Pals for Stuy Square Spread". October 14, 2008.
- ^ "Hispanic businessman becomes newest investor in Texans". March 26, 2002.
- ^ "OTC Global Holdings Timeline".
- ^ "Bloomberg: Javier Loya Business Profile".
- ^ "Q&A: Market volatility a way of life for commodities broker". April 27, 2017.
- ^ "CEO's $17,000 Birthday Party Spurs Commodity Brokerage Lawsuit". December 17, 2019.
- ^ "Partner sues commodities broker for clocking up expenses". December 18, 2019.
- ^ "This Texans Party Turns Into a Red Hot Tequila Launch With Moguls, Beautiful People and Pro Athletes". September 21, 2019.