A former Bank of the West manager joins Merrill private-banking subsidiary. San Francisco-based First Republic Bank has hired Steven Solomon, formerly an executive with Bank of the West, as managing director of the private bank's money-management division Republic Investment Management. He'll work out of First Republic's office in Newport Beach, Calif.

Expanded capabilities

"Steve Solomon is a very successful portfolio manager who shares First Republic's commitment to exceptional client service," says Katherine August-deWilde, president and COO of First Republic Bank. "Steve's experience working with individuals, families, businesses, and foundations will help First Republic expand its capabilities and meet the investment-management needs of our clients."

Before he joined First Republic, Solomon was a senior portfolio manager in San Francisco-based Bank of the West's wealth-management division. He has also worked as a portfolio manager in Wells Fargo's Private Asset Management division.

First Republic Investment Management manages $5.9 billion across 5,340 accounts, mainly for high-net-worth investors, according to its most recent ADV filing with the SEC.

First Republic is a subsidiary of Merrill Lynch. Aside from Newport Beach and several locations in and around San Francisco, it has offices in greater Los Angeles, Santa Barbara, Calif., San Diego, Las Vegas, Portland, Ore., Seattle, New York and Boston. -FWR

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