Contact Information: For more information, please contact: Rebecca Wilson Macsovits First Western (303) 531-8100 Morrison Shafroth CSG | PR 720-470-3653
First Western Acquires California Investment Advisor GKM Advisers, LLC
Transaction Marks Denver-Based First Western's Third Acquisition in Los Angeles
| Source: First Western Trust Bank
DENVER, CO--(Marketwire - April 30, 2009) - First Western Financial's wholly-owned
investment advisor announced today it has acquired the investment advisory
business of GKM Advisers, LLC (GKM), a Los Angeles-based investment
management firm.
An independent, fee-based investment adviser, GKM provides investment
management services to high net worth individuals, pension funds, and
foundations. In addition to discretionary accounts, GKM Advisers serves as
investment adviser to the GKM Growth Fund. The firm reported $353 million
in total assets under management as of the transaction's closing.
"GKM Advisers represents a long and successful history of managing wealth
for high net worth families and individuals," said Scott Wylie, First
Western Chairman and CEO. "The talented and seasoned investment
professionals at the firm are a perfect complement to First Western's
wealth management philosophy."
Originally formed in January of 2000 as a wholly-owned subsidiary of Gerard
Klauer Mattison, GKM has been independent since July 2003.
Consistent with First Western's strategy, GKM will adopt the First Western
name, and the existing staff will remain in place. The GKM investment team
will continue to provide wealth management to high net worth individuals,
pension funds and foundations.
"We're particularly excited to become part of the First Western team," said
Timothy J. Wahl, President of GKM Advisers. "With the infrastructure and
resources of the bank, we can provide additional services and opportunities
to our clients."
"This is a natural partnership on several levels," said Warren Olsen, Vice
Chairman and Chief Investment Officer of First Western. "The GKM team's
distinct skills in equity research and portfolio management are an
excellent fit for the First Western wealth management approach."
For First Western, the addition of GKM represents an opportunity to extend
its investment management and wealth planning services to California's
affluent investors. Last year, Denver-headquartered First Western purchased
Financial Management Advisors, LLC and Ryder, Stilwell Incorporated, both
Los Angeles-based registered investment advisors.
Following the acquisition of GKM, First Western has over $2.5 billion in
assets under management and approximately $475 million in consolidated
assets, with locations in Colorado, Arizona, and California. First Western
plans on continued expansion within Los Angeles, and throughout California
and the western U.S.
The GKM transaction closed on April 30, 2009.
About First Western Financial, Inc.
First Western Financial, Inc. (FWF) is the holding company of First Western
Trust Bank and First Western Investment Management. First Western Trust
Bank is the best private bank for the Western wealth management company
providing comprehensive tailored solutions in the areas of wealth planning,
private banking, investment management and trust services. With $2.5
billion in assets under management, FWF was recently ranked as one of Inc.
500's fastest growing private companies in the United States and the
fastest growing bank/ bank holding institution in the country. Built
specifically for the new economies of the West, the firm has First Western
offices in Arizona, California, and Colorado. For more information, please
visit www.fwtb.com or call 303-531-8100.