First Western Financial’s Los Angeles-based investment management operation, formerly part of First Western Investment Management, has been re-named First Western Capital Management.

The investment management unit resulted from First Western’s acquisition of Financial Management Advisors, an independent registered investment advisor, in May 2008.

“Distinctly recognizing the Century City team as First Western Capital Management helps focus an important area of our overall investment brand,” said First Western chairman Warren Olsen in a statement.

Ken Malamed, the former chief executive of FMA, will be vice chairman and chief investment officer of First Western Capital Management.

Russ Matthews will be president, Steve Michaels and Barry Julien will be managing directors and portfolio managers and John Dewey will be managing director of Institutional Services.