FRC - First Republic Bank Appoints President Ms. Hafize Gaye Erkan to its Board of Directors

First Republic Bank (NYSE:FRC), a leading private bank and wealth management company, today announced that its President, Ms. Hafize Gaye Erkan, has joined its Board of Directors.

“Gaye’s appointment to our Board of Directors reflects her substantial contributions to First Republic,” said Jim Herbert, Chairman and CEO. “This appointment is an important next step as we continue our leadership succession.”

Erkan has been part of the executive management team since joining First Republic in 2014 and was previously an advisor to the Bank. Before joining First Republic, she worked at Goldman Sachs, as Managing Director and Head of Financial Institutions Group Strats. Erkan has a Ph.D in Operations Research and Financial Engineering from Princeton University and a Bachelor of Science degree from Bogazici University in Turkey.

“I’m honored by this appointment and look forward to continuing to contribute to First Republic’s success, alongside Jim, fellow Directors, and our entire leadership team,” said Erkan.

First Republic’s Board of Directors also extended the employment contract of Chairman and Chief Executive Officer Jim Herbert through December 31, 2028. Herbert, who founded the Bank in 1985, will serve as CEO and Chairman through December 31, 2021, and thereafter as Executive Chairman through December 31, 2028.

“Under Jim’s leadership, First Republic has grown into one of the most highly regarded and successful financial institutions in the country,” said Lead Outside Director Reynold Levy. “The Board is very pleased to both appoint Gaye to our Board and extend Jim’s service as Chairman and CEO.”

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 and offers a complete line of products, including residential, commercial and personal loans, deposit services, and wealth management. 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 Jackson, Wyoming. First Republic is a constituent of the S&P 500 Index and KBW Nasdaq Bank Index. For more information, visit firstrepublic.com.

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