Kayne Named President of Far West Financial Corp.

Fred Kayne, a longtime investment banker, has been named president and chief executive officer of Far West Financial Corp. in Newport Beach. Kayne, 49, takes over positions vacated by William Belzberg, who remains as chairman of the company and its primary subsidiary, Far West Savings & Loan.

Kayne, who has been a Far West corporate director since May, is expected to bring the company industry contacts and an investment banking background that it hasn’t had, said Charles H. Green, the company’s principal financial officer.

The addition of Kayne to the management team also brings Far West Financial a person with securities and investment banking experience, which could prove useful if the S&L; decides to engage in securities activities.

Investment Banking

In 1986, Kayne concluded a 13-year career with Bear Stearns & Co., a New York brokerage and investment banking firm. He had served as a director of Bear Stearns and managing director of its Los Angeles office, where he had responsibility for supervising the investment banking, securities and real estate activities.

Kayne, of Beverly Hills, will operate out of Far West offices in Beverly Hills or Century City, Green said. Far West Financial had $3.75 billion in assets at the end of 1987.

Belzberg, 54, also of Beverly Hills, has wanted to step away from the day-to-day operations of the company to spend more time on other interests that he and his brothers, Hyman and Samuel, are involved in, Green said.

The Belzberg brothers have wide-ranging holdings and investments in financial services, mainly through their First City Financial Corp. Ltd. in Vancouver, Canada. Far West Financial, however, is a separately chartered company in which the Belzbergs own about 53%.