US west coast-based First Republic Bank has hired Cecilia Tsoflias from City National Bank as managing director of currency risk management. Ms Tsoflias will be based in the bank's Century City office, joining a growing team of foreign exchange staff at the wealth manager and private banker. She will work with individuals and companies, including investment management companies specialising in private equity and venture capital, professional service firms, independent schools and other non-profit organisations. Before joining First Republic, she worked for City National Bank in Los Angeles as vice president, foreign exchange trader. First Republic is a division of Merrill Lynch.