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Robert Chereck Named Executive Chairman of Southwest Securities, FSB

Texas Business reports:  DALLAS—Southwest Securities FSB, the commercial banking subsidiary of SWS Group Inc. elected Robert Chereck as executive chairman of the bank's board of directors.

“We are proud to welcome a banking professional of Mr. Chereck's experience and expertise to Southwest Securities, FSB,” said SWS Group chief executive James H. Ross in a prepared statement. “This is yet another positive step forward as we continue to build value for our customers and position the Bank for long-term growth. Mr. Chereck will work closely with the bank's executive team and will play a key role in achieving our goals.”

Chereck joins Southwest Securities, FSB from Wells Fargo Bank in Dallas where he was executive vice president, Southwest division manager and Dallas regional president. As division manager, he oversaw 11 regional banking offices in New Mexico, Oklahoma and Texas. He also served as president and owner of Norwich Financial Associates Inc., a financial services and consulting company in Dallas, and as managing director of Mason Best Company, a privately held merchant banking firm.

Chereck began his career with InterFirst Bank Dallas, where he served in a variety of senior-level positions, including executive vice president managing the Dallas corporate division.

Chereck serves on the boards of directors of several organizations in the Dallas-Fort Worth area. He is currently chairman of the board of Children's Medical Center and chairman-elect of the Dallas Citizens Council. He is past chairman of the Dallas Regional Chamber and serves on the board's executive committee. Chereck has also served three terms on the City of Dallas Housing Finance Corporation and was a member of the Downtown Dallas Association Board. In addition, he is a member of the advisory council for the University of Texas McCombs Business School.

Southwest Securities FSB, was established in 1986 and became a wholly owned subsidiary of SWS Group Inc. in 2000. Based in Dallas, Southwest Securities, FSB offers a variety of commercial banking services.

SWS Group Inc. is a Dallas-based company offering a broad range of investment and financial services through its subsidiaries. The Company's common stock is listed and traded on the New York Stock Exchange under the symbol SWS.