DALLAS, April 24, 2012 /PRNewswire/ -- SWS Group, Inc. (NYSE: SWS) will commemorate the firm's 40th Anniversary by ringing The Closing Bell at the New York Stock Exchange (NYSE) on April 25, 2012.
"When our firm opened its doors in 1972, our co-founders, Don Buchholz and the late Allen Cobb, shared the goal of building something that would last. Today, we can look back over 40 years of history and safely say they succeeded in their mission and it's a mission we are proud to continue," said James H. Ross, President and Chief Executive Officer of SWS Group. "Our firm's success is the direct result of our employees' unwavering commitment to delivering the attentive, personal service our clients deserve. It was a cornerstone of SWS 40 years ago and it remains so today."
The firm was incorporated in Dallas, Texas, on April 24, 1972, as MidSouthwest Securities, Inc. and soon thereafter was accepted as an NYSE member firm. A pioneer in the fully disclosed securities clearing business, the firm grew over the years and today the parent company, SWS Group, Inc., operates in four primary segments – Institutional Brokerage, Retail Brokerage, Clearing Services and Banking. The company has over 1,000 employees in offices in 16 states from coast to coast and $3.6 billion in total assets. SWS Group's common stock was listed on the NYSE in 1997 where it continues to trade under the symbol "SWS."
As part of this year's 40th Anniversary celebration, SWS Group has initiated a nationwide endowed scholarship program, initially with three universities in some of the company's largest market areas. The firm is partnering with the Paul Merage School of Business at the University of California Irvine, the College of Business Administration at the University of Illinois at Chicago, and the Jindal School of Management at University of Texas at Dallas, to provide scholarships for business school students.
"We are hoping to expand this program in the years ahead to support even more communities and invest in the young people who will be shaping the future of the financial services industry," Mr. Ross said.
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 SWS Group, Inc.