James H. Herbert II Appointed to the Federal Advisory Council
San Francisco, California — The Federal Reserve Bank of San Francisco’s board of directors has appointed James H. Herbert, II, Chairman and CEO (Founder) of First Republic Bank, to represent the District on the Federal Advisory Council. Mr. Herbert’s one-year term began on April 1, 2018. He succeeds Robert G. Sarver, Chairman and CEO of Western Alliance Bancorporation.
The Federal Advisory Council, a body created by the Federal Reserve Act, consists of one member—generally from the commercial banking industry—from each of the 12 Reserve Bank Districts. The council ordinarily meets four times a year with the Board of Governors in Washington, D.C., to discuss economic and banking matters. Members customarily serve three one-year terms.
Mr. Herbert is Chairman and CEO (Founder) of First Republic Bank, a private bank and wealth management business with more than $85 billion in bank assets and over $100 billion in wealth management assets. Before establishing First Republic Bank in 1985, Mr. Herbert was founding President, CEO of San Francisco Bancorp.
He holds a B.S. from Babson College and an M.B.A. from New York University.
Federal Reserve Bank of San Francisco
The Federal Reserve Bank of San Francisco, with branch offices in Los Angeles, Seattle, Salt Lake City, and Portland, and a cash processing office in Phoenix, provides wholesale banking services to financial institutions throughout the nine western states. As the nation’s central bank, the Federal Reserve System formulates monetary policy, serves as a bank regulator, administers certain consumer protection laws, and is fiscal agent for the U.S. government. Follow us on Twitter at twitter.com/sffed.