First Western Acquires Financial Management Advisors, LLC., a $1.5 Billion Money Manager in Los Angeles

Denver firm doubles assets under management and establishes presence in California. First Western Investment Management, an affiliate of First Western Trust Bank (www.fwtb.com), the premier private bank for the western wealth management client and one of the fastest growing in the west, today announced an agreement to acquire the assets of Financial Management Advisors, LLC (FMA), a Los Angeles-based independent registered investment advisor. The transaction more than doubles the investment capabilities of First Western, which currently manages approximately $1.4 billion in assets for private clients.

Denver, CO (PRWEB) June 10, 2008 -- First Western Investment Management, an affiliate of First Western Trust Bank (www.fwtb.com), the premier private bank for the western wealth management client and one of the fastest growing in the west, today announced an agreement to acquire the assets of Financial Management Advisors, LLC (FMA), a Los Angeles-based independent registered investment advisor.

The transaction more than doubles the investment capabilities of First Western, which currently manages approximately $1.4 billion in assets for private clients.

FMA was founded in 1985 by Kenneth D. Malamed, the firm's president and chief investment officer. The investment advisor manages approximately $1.5 billion in assets for corporations, pension funds, endowments, foundations, families, and high net-worth individuals.

Our goal has always been to expand the bank's presence across the West, and we've built First Western's infrastructure for scalable, multi-state operations

Acquiring a high-quality team in Los Angeles is a logical extension of our long-term business strategy, which is to be the best private full-service bank in the West.

We are thrilled to have forged this relationship with one of Southern California's premier money managers. Like First Western, FMA employed a very analytical, risk-based approach in managing money.

We're excited about continuing FMA's legacy of solid performance and excellent client service as part of the First Western enterprise

With the infrastructure and resources of First Western behind us, we can focus on making sound investment decisions for our clients for years to come.

For First Western, the addition of the 14 investment professionals in Los Angeles represents an opportunity to extend its business to larger institutions, particularly in the area of fixed income asset management. The acquisition also gives First Western a foothold in California and brings the company to an important measure of scale with about $2.9 billion in total assets under management.

Warren Olsen, First Western's vice chairman and chief investment officer says "We are thrilled to have forged this relationship with one of Southern California's premier money managers. Like First Western, FMA employed a very analytical, risk-based approach in managing money."

"We're excited about continuing FMA's legacy of solid performance and excellent client service as part of the First Western enterprise," says Mr. Malamed. "With the infrastructure and resources of First Western behind us, we can focus on making sound investment decisions for our clients for years to come."

Since its founding in 2002, First Western has successfully integrated a number of wealth managers into its business model, providing each of the firms with private banking services, business scale, and succession planning. In addition to its acquisition of James A. Sprout & Associates (Fort Collins), Sterling Partners (Denver), and Reber/Russell Company (Denver/Boulder), First Western has also launched operations in Arizona.

The FMA transaction, structured as an asset purchase, closed on June 1, 2008.

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 $2.9 billion currently 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, Boulder, Cherry Creek, and Fort Collins that specialize in serving the needs of the entrepreneurial spirit of the West. Offices in Scottsdale, AZ and the Denver Tech Center will be opening in 2008. For more information, please visit www.fwtb.com, or call 303-531-8100.

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