Reappointment Announced for the Federal Reserve Bank of San Francisco’s Federal Advisory Council Member James H. Herbert, II
San Francisco, CA – The Federal Reserve Bank of San Francisco has announced the reappointment of Mr. James H. Herbert, II, founder, chairman, and chief executive officer of First Republic Bank, to represent the District on the Federal Advisory Council for another one-year term. Mr. Herbert’s first term began on April 1, 2018.
James H. Herbert, II
First Republic Bank is a private bank and wealth management business with over $116 billion in bank assets and $151 billion in wealth management assets. Before establishing First Republic Bank in 1985, Mr. Herbert was founding president and chief executive officer of San Francisco Bancorp.
He holds a bachelor of science from Babson College and an MBA from New York University.
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.
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.