Banking & Finance
Coming into focus
How Donald Hultgren streamlined SWS Group by identifying and executing on its core businesses
By Robyn Davis Sekula
Smart Business Dallas | May 2008
Page 1 of 4
When Donald W. Hultgren became CEO of SWS Group Inc. in
August 2002, the organization had just completed its first on-record year of losing money.
The company had posted fiscal 2002 revenue of $335 million,
with a net loss of $6.2 million.
Hultgren had been working at the company since 2000, and he
knew the company could be great again. In his mind, the reason
the company was losing money was because of one problem: lack
of focus.
“The company was a very strong company,” Hultgren says. “It
entered some businesses that were core. It had also entered some
businesses that were not core. Some of the non-core businesses
were using too much capital to fight wars that we probably couldn’t win. I felt at that time that it was important to streamline the
company to get focused on our core competencies and stop
spending money on things in areas that were not core to our business.”
Focus, he says, is essential to building a solid business.
Communicating that focus to the employees and others associated with the company was key to rebranding and rebuilding.
“If a business has a focus that is clearly understood by all of the
constituents, that being the employees and the customers and the
shareholders, then that focus can really help you drive the firm in
the direction you want it to go,” Hultgren says. “I think it is critical
to an organization to be focused on what the firm is attempting to
accomplish in the marketplace.”
