SAN FRANCISCO--(BUSINESS WIRE)--First Republic Bank (NYSE: FRC), a leading private bank and wealth management company, today announced that Jim Herbert, Chairman and CEO, has been appointed by the Federal Reserve Bank of San Francisco’s board of directors to represent the District on the Federal Advisory Council.
Herbert joins the Federal Reserve’s Federal Advisory Council as one of its 12 members. The Federal Advisory Council, a body created by the Federal Reserve Act, consists of one member - generally from the commercial banking industry - from each of the twelve Reserve Bank Districts. The council ordinarily meets four times a year with the Board of Governors in Washington, D.C., to discuss economic and banking matters. Members customarily serve three, one-year terms.
Herbert founded First Republic Bank as CEO in 1985. He holds board/trustee positions with Babson College, the San Francisco Ballet Association, Lincoln Center for the Performing Arts, New York, and The BASIC Fund. In 2014, Herbert was named Banker of the Year by American Banker. He holds a B.S. from Babson College, M.B.A. from New York University, and is a Harvard Business School CEO Presidents’ Program Graduate.
About First Republic Bank
Founded in 1985, First Republic and its subsidiaries offer private banking, private business banking and private wealth management, including investment, trust and brokerage services. First Republic specializes in delivering exceptional, relationship-based service, with a solid commitment to responsiveness and action. Services are offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach and San Diego, California; Portland, Oregon; Boston, Massachusetts; Palm Beach, Florida; Greenwich, Connecticut; New York, New York; and later in 2018, Jackson, Wyoming. First Republic offers a complete line of banking products for individuals and businesses, including deposit services, as well as residential, commercial and personal loans. For more information, visit firstrepublic.com.