The company has hired Jim Fletcher, a portfolio manager with more than 25 years of experience, for its First Republic Private Wealth Management in Newport Beach, Calif.
Fletcher will work with clients to provide customized equity and fixed-income investment management. A customized client portfolio utilizes traditional portfolio management and may include outside managers for equity, fixed-income and alternative investments.
Before joining First Republic, Fletcher was first vice president and senior director of portfolio management at
First Republic had been independent until
Then as speculation mounted about how BoA would raise much-needed capital to pay the government back for its bailout funds, BoA announced in October 2009 that it would sell First Republic to Colony Capital and General Atlantic, two private-equity firms, and a group of other investors, including the bank's chairman, James H. Herbert, and chief operating officer, Katherine August-deWilde. The deal, which is expected to close in the second quarter, has allowed the bank to make its own moves again.
First Republic has preferred banking and/or wealth management offices in San Francisco; Los Angeles; Santa Barbara, Calif.; Newport Beach; San Diego; Portland, Ore.; Seattle; Boston; Greenwich, Conn.; and New York.