DALLAS, Nov. 14, 2011 /PRNewswire/ -- Lacy Newman has been named Chief Credit Officer of Southwest Securities, FSB (the "Bank"), the commercial banking subsidiary of SWS Group, Inc. (NYSE: SWS). Mr. Newman has served as Vice President, Special Projects Coordinator for the Bank since September of 2011.
"We are very fortunate to have Mr. Newman as an integral part of our executive team," said Jerry Pavlas, President and interim Chief Executive Officer of Southwest Securities, FSB. "His 35 years of experience in the banking industry and extensive knowledge of real estate and credit issues make him an important contributor to the continued growth and success of Southwest Securities, FSB."
Before joining SWS Group, Mr. Newman served as a consultant in the Dallas area specializing in real estate acquisitions and real estate loans. He also served as CCO of Cal Fed Bank in San Francisco and Executive Vice President with Texas Capital Bank in Dallas. Mr. Newman has extensive experience in commercial and real estate lending and has also held senior-level positions with MBank Dallas, The Seaman's Bank for Savings in New York City and Bank of New England Corp. in Boston, Mass.
"The addition of Lacy Newman to the Bank's management team fulfills another of our objectives as we restructure and strengthen Southwest Securities, FSB," said James H. Ross, Chief Executive Officer of the Bank's parent company, SWS Group, Inc. "Matching the right people with the right positions is crucial for reaching our goals, and by naming Mr. Newman Chief Credit Officer we have done just that. He will play an important role in developing the Bank's capital plan and continuing our progress in reducing classified assets."
Mr. Newman holds a Bachelor of Science degree in math from the University of Mississippi at Oxford and a Master of Business Administration degree in finance and general management from the University of Virginia in Charlottesville.
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 designed to help businesses grow and communities prosper.
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. SWS Group, Inc. subsidiaries include Southwest Securities, Inc., a national clearing firm, registered investment adviser and registered broker-dealer; SWS Financial Services, Inc., a registered investment adviser and a registered broker-dealer serving independent securities brokers and their clients, and Southwest Securities, FSB, one of the largest banks headquartered in the Dallas-Fort Worth metropolitan area.
SOURCE Southwest Securities, FSB