Leadership and Values

2020 Annual Report
About Us
Leadership and Values

Executive Leadership

First Republic’s leadership team represents considerable depth and experience in the financial industry. Their guidance reflects extensive institutional knowledge and diverse perspectives.

76, Founder, Chairman and CEO

Mr. Herbert founded First Republic Bank in 1985. Previously, he was the founding Chief Executive Officer, President and a director of San Francisco Bancorp from 1980 to 1985. He served as the Federal Reserve’s Twelfth

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District member of the Federal Advisory Council from 2018 to 2020 and currently serves as a member of the U.S. Department of the Treasury’s Community Development Advisory Board. Mr. Herbert holds board/trustee positions with Babson College; the San Francisco Ballet Association (formerly Chair); Lincoln Center for the Performing Arts, New York; and The BASIC Fund. B.S., 1966, Babson College; M.B.A., 1969, New York University; over 20-year participant, Chief Executives Organization’s Harvard Presidents’ Seminar.

41, President and Board Member

Ms. Erkan joined First Republic in 2014 and became the President in 2017 and Board Member in 2019. Prior to First Republic, she held the position of Managing Director and Head of Financial

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Institutions Group Strategies at Goldman Sachs, where she worked for nearly a decade, advising boards and executive management of large U.S. banks and insurance companies. Ms. Erkan also served on the board of directors of Tiffany & Co. B.Sc., 2001, Bogazici University (Turkey); Ph.D., 2006, Princeton University; Harvard Business School Advanced Management Program, 2015; Stanford Graduate School of Business Executive Program in Leadership, 2016.

51, Executive Vice President and Chief Operating Officer

Mr. Bender has been with First Republic since 1999 and managed the Bank’s finance department for over a decade before being appointed Chief Administrative Officer in 2013. He was appointed Chief Operating Officer in 2016 and is responsible for the

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Bank’s overall operations and technology, as well as strategic planning and secondary loan marketing. He also oversees banking activities in the Orange County and San Diego regions. B.A., 1992, Swarthmore College; M.B.A., 1999, Stanford Graduate School of Business; Harvard Business School Advanced Management Program, 2014.

63, Executive Vice President and President, Private Wealth Management

Mr. Thornton joined First Republic in 2004 and currently serves as President of First Republic Investment Management and President of First Republic Private Wealth Management. He became

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Executive Vice President of First Republic Bank in 2015 and oversees banking activities for the Palm Beach region. Prior to joining First Republic, Mr. Thornton held senior roles at Goldman Sachs, Credit Suisse and Deutsche Bank over a 20-year period. B.A., 1980, Duke University; J.D., 1983, Columbia Law School; Stanford Graduate School of Business Executive Program, 2014.

53, Senior Executive Vice President and Chief Banking Officer

Mr. Selfridge joined First Republic in 2012. He has served as Deputy Chief Operating Officer, Chief Risk Officer and Chief Operating Officer, and was appointed Chief Banking Officer in 2016. He oversees Business Banking,

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Eagle Lending and banking in the Northern California; Los Angeles; Portland; and Jackson, Wyoming, regions. Prior to First Republic, he was with Silicon Valley Bank for 18 years, most recently serving as Head of U.S. Regional Banking. B.S., 1989, California Polytechnic State University, San Luis Obispo; M.B.A., 1995, University of San Francisco; Harvard Business School Advanced Management Program, 2013.

50, Executive Vice President and Chief Financial Officer

Mr. Roffler joined First Republic in 2009 as Deputy Chief Financial Officer and was appointed Executive Vice President and Chief Financial Officer in 2015. Prior to joining the Bank, Mr. Roffler worked for KPMG LLP

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for 16 years as a Certified Public Accountant, five of which were as an audit partner. He serves on the board of directors of the American Heart Association, Greater Bay Area. B.S., 1993, Marquette University; Stanford Graduate School of Business Executive Program, 2013.

57, Senior Executive Vice President and Chief Credit Officer

Mr. Lichtman has been with First Republic since 1986 and has held positions in various phases of lending operations at the Bank. Mr. Lichtman was appointed Chief Credit Officer in 1995. In the role of Chief Credit

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Officer, he is responsible for promoting the Bank’s credit culture, focused on safe and disciplined lending standards and practices. B.A., 1985, Vassar College; M.B.A., 1990, University of California, Berkeley.

42, Executive Vice President and Chief People Officer

Ms. Richardson joined First Republic in 2003 and was appointed Chief People Officer in 2016. She oversees human resources and various Bank-wide initiatives. Ms. Richardson previously served as Chief Administrative

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Officer and Head of Board and Investor Relations at First Republic. She is a member of the Board of Directors for the Network for Teaching Entrepreneurship, Bay Area, and the YMCA of San Francisco. B.A., 2001, Sonoma State University; Harvard Business School Advanced Management Program, 2013.

76, Founder, Chairman and CEO

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73, Vice Chair and Board Member

Ms. August-deWilde was an executive at First Republic Bank from 1985 to 2015. She served as President from 2007 and as COO from 1996 to 2014. Previously, she was Senior Vice President and Chief Financial Officer at

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PMI Group. She serves on the public company boards of TriNet Group, Inc.; Eventbrite, Inc.; and Sunrun, Inc. She also serves on the private company board of OpenGov, Inc., and the nonprofit board of Tipping Point Communities. She was a member of the Stanford University Graduate School of Business Advisory Council. A.B., 1969, Goucher College; M.B.A., 1975, Stanford University.

41, President and Board Member

Ms. Erkan joined First Republic in 2014 and became the President in 2017 and Board Member in 2019. Prior to First Republic, she held the position of Managing Director and Head of Financial

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81, Board Member

Mr. Fahrenkopf was President and CEO of the American Gaming Association for 18 years. He is of counsel in the Washington, D.C., law firm of Hogan Lovells. He is Co-Chairman of the Commission on Presidential Debates. From 1983 to 1989, he was Chairman

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of the Republican National Committee. He is a director of 11 funds within the Gabelli Funds, LLC, fund complex. He is also a director of Caesars Entertainment, Inc., and a member of the private company board of BMM International. B.A., 1962, University of Nevada, Reno; L.L.B., 1965, University of California, Berkeley.

49, Board Member

Professor Groysberg teaches business administration in the Organizational Behavior Unit at Harvard Business School. He is the author of Chasing Stars: The Myth of Talent and the Portability of Performance and co-author of Talk, Inc.: How

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Trusted Leaders Use Conversation to Power Their Organizations; Glass Half-Broken: Shattering the Barriers That Still Hold Women Back at Work; and Wall Street Research: Past, Present, and Future. He has published more than 100 articles, notes and case studies on how firms develop and utilize their talent, and has won numerous awards for his research on managing human capital. B.S., 1994, New York University Stern School of Business; D.B.A., 2002, Harvard Business School.

63, Board Member

Dr. Hernández is President and CEO of the California Health Care Foundation (CHCF), an independent foundation dedicated to improving the health of the people of California. She is a gubernatorial appointee to the board of Covered California, the California

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health insurance marketplace, and serves on the board of the Public Policy Institute of California Statewide Leadership Council. Prior to joining CHCF, she was CEO of The San Francisco Foundation, which she led for 16 years. Dr. Hernández previously served as Director of Public Health for the City and County of San Francisco and co-chaired San Francisco’s Universal Healthcare Council. B.A., 1979, Yale University; M.D., 1984, Tufts School of Medicine; Senior Executives in State and Local Government certificate program, Harvard University’s John F. Kennedy School of Government.

62, Board Member

Ms. Joyner is a founding partner of Avid Partners LLC, a strategic marketing consulting firm. Previously, she held senior positions at Bowman Capital Management LLC and Capital Guardian Trust Company. She serves on the board of directors of Apollo

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Global Management, Inc. Ms. Joyner is also a trustee emeritus of Dartmouth College and a trustee of the Tate Americas Foundation, SFMOMA, the Art Institute of Chicago and the J. Paul Getty Trust. She was previously Co-Chair of the San Francisco Ballet Association. B.A., 1979, Dartmouth College; M.B.A., 1984, Harvard University; M.A., Honorary Degree, 2001, Dartmouth College.

75, Board Member / Lead Outside Director

Mr. Levy serves as a consultant to commercial organizations, nonprofit institutions and individual benefactors. He most recently served as President of the Robin Hood Foundation and was President of Lincoln Center for the Performing Arts from 2002

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to 2013. Previously, he was President of the International Rescue Committee and a senior executive at AT&T. He is also the author of five books and has taught at the Harvard Business School and Columbia University. He is a fellow of the American Academy of Arts and Sciences, a member of the Council on Foreign Relations, and a trustee of the Charles H. Revson Foundation and American Ballet Theatre. B.A., 1966, Hobart College; M.A., 1969, University of Virginia; Ph.D., 1973, University of Virginia; J.D., 1973, Columbia University Law School.

61, Board Member

Mr. Niederauer served as CEO of NYSE (2007–2014) and partner of Goldman Sachs. Currently he is a co-founder and managing member of Transcend Wealth Collective, an independent investment advisory firm. He is a director of Realogy Holdings Corp. and

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sits on several additional boards, including the Bob Woodruff Foundation and Team Rubicon. He and his wife, Alison, led the Newmark School’s “Destination of Promise” campaign to build a school for children with autism and related disabilities. B.A., 1981, Colgate University; M.B.A., 1985, Emory University.

82, Board Member

Mr. Parker is the Dean Witter Distinguished Professor of Finance, Emeritus, formerly Senior Associate Dean for Academic Affairs, Director of the M.B.A. Program and Director of Executive Education at the Graduate School of Business, Stanford University.

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He serves on the board of directors of Colony Capital, Inc., and formerly served on the board of directors of Continental Airlines; Tejon Ranch Company; and Threshold Pharmaceuticals, Inc. B.A., 1960, Haverford College; M.B.A., Ph.D., 1967, Stanford University.

85, Chairman Emeritus

Founding Chairman and member of Director’s Loan Committee, Mr. Walther is Chairman of Tusker Corporation, a real estate management firm. He is a director of The Charles Schwab Corporation, a Chancellor’s Associate of the UCSF Foundation and a member

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of the Festival Napa Valley executive committee. B.S., 1958, United States Coast Guard Academy; M.B.A., 1961, Wharton School, University of Pennsylvania.

Executive Leadership

James H. Herbert, II

Hafize Gaye Erkan

Jason C. Bender

Robert L. Thornton

Michael D. Selfridge

Michael J. Roffler

David B. Lichtman

Mollie M. Richardson

Board of Directors

James H. Herbert, II

Katherine August-deWilde

Hafize Gaye Erkan

Frank J. Fahrenkopf, Jr.

Boris Groysberg

Sandra R. Hernández, M.D.

Pamela J. Joyner

Reynold Levy

Duncan L. Niederauer

George G. C. Parker

Roger O. Walther

First Republic Values