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February 27, 2014updated 04 Apr 2017 2:28pm

First Republic Bank appoints new COO

First Republic Bank, a private bank and wealth management company, has promoted senior executive vice president Mike Selfridge as new COO.

By Verdict Staff

First Republic Bank, a private bank and wealth management company, has promoted senior executive vice president Mike Selfridge as new COO.

Selfridge, who has joined the First Republic Bank in 2012, has previously served as the bank’s deputy COO.

Prior to joining First Republic Bank, Selfridge worked at Silicon Valley Bank for 18 years as head of regional banking.

Additionally, the bank has also extended the employment contracts of chairman and CEO Jim Herbert and president Katherine August-deWilde for an additional year.

Under the extended contract, Herbert will remain as chairman and CEO till 30 June 2017 and will continue as chairman until 31 December 2020, while August-deWilde will continue in his current role till 31 December 2015, and will also serve as senior advisor until 31 December 2017.

Jim Herbert said: "Mike’s additional responsibilities reflect the valuable contribution he has made to the company and his promotion is part of our ongoing plan to ensure the long-term depth of First Republic’s leadership team."

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