FRC - First Republic Bank board announces leadership transitions

First Republic Bank's (FRC -1.2%) board announced leadership transitions effective Jan. 1, 2022. Founder, Chairman and Co-CEO Jim Herbert will take a medical leave of absence from his executive position in response to a recent medical recommendation regarding a coronary health issue. Herbert will also step down from the Board during this time and is expected to be reappointed to the board upon his return. Hafize Gaye Erkan will continue to serve as Co-CEO, as well as assume additional responsibilities; he has been part of the executive management team since joining First Republic in 2014. The Board has appointed Mike Roffler President, effective Jan. 1, 2022.

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First Republic Bank board announces leadership transitions