SAN FRANCISCO, Nov. 17, 2014 /PRNewswire/ -- First Republic Bank (NYSE: FRC), a leading private bank and wealth management company, today announced that Mike Roffler, Deputy Chief Financial Officer for the past five years, has been named Executive Vice President, Chief Financial Officer effective Jan. 1, 2015.
Roffler succeeds Willis Newton, who has served as CFO of First Republic for the past 26 years.
Newton joined First Republic in 1988 as Chief Financial Officer and played a key role in the Bank's growth. In 2011, Newton was named CFO of The Year by The San Francisco Business Times. Newton was instrumental in First Republic's divestiture in 2010 from Bank of America, including its $1.8 billion capital raise, second IPO and secondary common stock offerings.
"It has been a great privilege and true pleasure to work with Willis for the past 26 years," said Chairman and CEO Jim Herbert. "Willis is a consummate professional whose expertise and judgment have helped First Republic become one of the nation's most successful financial services companies. We are pleased Willis will remain engaged with First Republic as a consultant, while having time to enjoy a well-deserved retirement."
Roffler joined First Republic in 2009 and has had direct responsibility for accounting, tax, and both financial and regulatory reporting. He was closely involved in First Republic's divestiture from Bank of America and its second IPO in December 2010. He led multiple preferred and common stock offerings, and a senior debt offering. Prior to joining First Republic, Roffler worked for 16 years in the audit practice at KPMG and became a Partner in 2004. At KPMG, he served numerous financial services organizations and worked as a licensed CPA. Roffler has a Bachelor of Science degree in accounting from Marquette University and more recently completed the Stanford Executive Program.
"Mike Roffler is an exceptional leader whose extensive experience in the capital markets, balance sheet management and investor relations has helped drive First Republic's success over the past five years," Herbert said. "Mike fully understands First Republic's business model and has become a key part of our culture."
About First Republic Bank
Founded in 1985, First Republic and its subsidiaries offer private banking, private business banking and private wealth management, including investment, trust and brokerage services. First Republic specializes in delivering exceptional, relationship-based service, with a solid commitment to responsiveness and action. Services are offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland, Boston, Palm Beach, Greenwich and New York City. First Republic offers a complete line of banking products for individuals and businesses, including deposit services, as well as residential, commercial and personal loans. For more information, visit www.firstrepublic.com.
SOURCE First Republic Bank