Michael E. Myers, 62, was named president of Southwest InsuranceAgency, a wholly-owned subsidiary of SWS Group Inc., a Dallas-basedfinancial services holding company.

He replaces Larry Schmitt, who in November left his post aspresident to pursue other opportunities, the company said.

A 34-year veteran of the insurance industry, Mr. Myers served asexecutive vice president of Southwest Insurance Agency for the pastfive years before his promotion. Prior to joining SWS Group, Mr.Myers was an executive with the New York-based outsourcing groupBISYS.

In an interview, Mr. Myers said that Southwest Insurance, aretail insurance agency, generated $160 million in written premiumin 2005 with a network of 450 insurance representatives.

As president, he said his role will be to see the continuedgrowth of Southwest Insurance.

Mr. Myers is a former president of the Texas Association ofInsurance and Financial Advisors (TAIFA). He is a member and pastpresident of the Fort Worth Association of Insurance and FinancialAdvisors and a member of the TAIFA Political Action Committee.

SWS Group, according to its 10-K filing for the fiscal yearending June 2005, reported total revenues of $345.5 million and netincome of $31.3 million.