First Western Financial Picked by Denver Business Journal As Area's Fastest-Growing Medium-Sized Private Business
Financial services firm takes top honors with 472 percent rise in revenues over past three years.
Denver (PRWEB) July 23, 2007 -- With rapid growth in revenues and assets under management, First Western Financial, holding company to First Western Trust Bank, announced today that it has been recognized by the Denver Business Journal as the fastest-growing medium-sized private business in the Denver area.
First Western, which is the West's premier private bank and trust company, saw revenues grow 472 percent from 2004 to 2006, from nearly $1.6 million to more than $9 million, the Denver Business Journal reported in its July 13, 2007 issue.
"We are thrilled to have been recognized by the Denver Business Journal, and we are proud of the great strides we have made in just five years," said Scott Wylie, co-founder and CEO of First Western. "Our positive revenue growth is a reflection of the hard work and tremendous commitment that each First Western team member brings to their work as trusted advisors to our western clientèle."
As of May 31, First Western had $177 million in consolidated assets and $1.35 billion of assets under management for clients. The firm has 180 individual shareholders, and a total of 88 associates at banks in Denver, Cherry Creek and Fort Collins. New banks will open in Boulder and Scottsdale, Arizona, later this year, providing clients with fully integrated wealth management solutions.
The Denver Business Journal surveyed hundreds of Denver-area companies in order to identify top performers among small (less than $3.3 million revenue), medium ($3.3 million to $11.48 million), and large (more than $11.48 million) companies. A company's designation as small, medium, or large was determined by using its 2006 revenues in relation to a median number of all companies responding to the survey.
About First Western Trust Bank
First Western Trust Bank, the West's premier private bank and trust company, is the only private bank to comprehensively integrate private banking, investment management, personal trust and wealth planning for high net worth individuals and their families. With $1.35 billion under management, First Western fields a team of experienced professionals to deliver personalized wealth management solutions for each individual client. First Western Trust Bank has offices in downtown Denver, Cherry Creek and Fort Collins that specialize in serving the needs of the entrepreneurial spirit of the West. For more information, please visit www.fwtb.com or call 303-531-8100.
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