Westwood Appoints Mark A. Wallace, CPA, As Chief Financial Officer

Westwood Holdings Group, Inc. (NYSE: WHG) announced the appointment of Mark A. Wallace as Chief Financial Officer. Mark’s thirty years of experience in senior financial officer roles were gained at several companies, including high growth NYSE corporations. Mark is highly experienced in dealing with complex SEC reporting issues, capital markets, global tax and treasury matters, mergers and acquisitions, and technology solutions.

Westwood’s former CFO, Bill Hardcastle, will focus on the growth of Westwood’s domestic and international fund business and will provide leadership in other corporate development and strategic initiatives.

Brian Casey, Westwood’s President & CEO, said, “We are very pleased to add Mark to the Westwood team. His wealth of experience as a senior financial officer for growing organizations will bring tremendous value to Westwood as we continue to execute our growth strategy. We would also like to express our gratitude for Bill’s contributions as CFO over the last seven years; he will continue to be an integral part of the Westwood team in his new role.”

Prior to joining Westwood, Mark served as Chief Financial Officer and held other financial leadership positions for an S&P 500 real estate investment trust, NYSE-listed international manufacturing corporations, and diversified industrial holding companies. Mark began his career with eleven years at Arthur Andersen LLP. Mark was awarded an MBA from Colorado State University and a BBA from Texas Tech University. He is also a Certified Public Accountant.

About Westwood

Westwood Holdings Group, Inc. provides investment management services to institutional investors, private wealth clients and financial intermediaries. Westwood manages a variety of investment strategies including U.S., Global and Emerging Markets equities as well as income-oriented portfolios. Access to these strategies is available through separate accounts, commingled funds and the Westwood Funds TM family of mutual funds. Westwood has significant, broad-based employee ownership and trades on the New York Stock Exchange under the symbol “WHG.” Based in Dallas, Westwood also maintains offices in Omaha and Toronto.

For more information on Westwood, please visit our website at www.westwoodgroup.com.

For more information on the Westwood Funds TM, please visit www.westwoodfunds.com.

Note on Forward-looking Statements

Statements in this press release that are not purely historical facts, including statements about our expected future financial position, results of operations or cash flows, as well as other statements including words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” “should,” “could,” “goal,” “may,” “target,” “designed,” “on track,” “comfortable with,” “optimistic” and other similar expressions, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results and the timing of some events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including, without limitation: our ability to identify and successfully market services that appeal to our customers; the significant concentration of our revenues in four of our customers; our relationships with investment consulting firms; our relationships with current and potential customers; our ability to retain qualified personnel; our ability to successfully develop and market new asset classes; our ability to maintain our fee structure in light of competitive fee pressures; competition in the marketplace; downturns in the financial markets; new legislation adversely affecting the financial services industries; interest rates; changes in our effective tax rate; our ability to maintain an effective system of internal controls; and the other risks detailed from time to time in Westwood’s SEC filings, including but not limited to, its annual report on Form 10-K for the year ended December 31, 2011 and its quarterly report on Form 10-Q for the quarters ended March 31, June 30 and September 30, 2012. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, Westwood is not obligated to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events or otherwise.


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