Wealth Management Assets Up at First Republic Bank

Stephen Harris 23 April 2007

Wealth Management Assets Up at First Republic Bank

At San Francisco-based First Republic Bank, assets managed or administered by the bank's investment advisors, Trainer, Wortham & Company, Froley, Revy Investment Company, and Starbuck, Tisdale & Associates, First Republic Securities Company, First Republic Trust Company and First Republic Wealth Advisors totalled $17.2 billion at March 31, 2007, an increase of 15 per cent compared with $14.9 billion a year ago. Excluding the bank's convertible manager, which has lost assets recently, its total wealth management assets have increased 30 per cent over the past year, according to a statement. Total fees from these wealth management activities increased 15 per cent in the first quarter, compared with the first quarter of 2006. First Republic is to be acquired by Merrill Lynch, but will operate as a stand alone unit.

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