The $173 billion-asset bank said in a press release Monday that Hafize
Gaye Erkan resigned as co-CEO to pursue other opportunities. Erkan, who joined
the bank in 2014 from Goldman Sachs, was named co-CEO in July.
That move positioned her to eventually succeed James Herbert,
the bank’s founder, chairman and co-CEO. Herbert announced last month that he
would take a six-month medical leave of absence to deal with a coronary health
issue.
First Republic said Mike Roffler, its president, had been named interim
co-CEO and that it had hired Korn Ferry to find a permanent replacement.
“We are
grateful for Gaye’s many significant contributions during her tenure as a key
member of our outstanding executive team," Herbert said in the release. "We wish her all the best, personally
and professionally."
Roffler was the bank’s chief financial offer before becoming
president last week. First Republic said that Olga Tsokova, its chief
accounting officer, will serve as acting CFO.
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