Mr Hickey, who is now based in San Francisco, was most recently a director and senior portfolio manager in Citigroup’s fixed-income division, responsible for taxable and tax-exempt assets. His career at Citigroup spanned some 15 years.

"Michael Hickey is an accomplished fixed-income portfolio manager who has been very successful in assisting clients achieve their investment goals. Michael's leadership and experience will help First Republic meet the expanding and diverse needs of our clients across the country," said Katherine August-deWilde, president and chief operating officer of First Republic Bank.

In another recent hire, at the end of last month First Republic hired Linda Cheresh as a relationship manager, based in Santa Barbara. Ms Cheresh joined from Wells Fargo, where she was most recently vice president within its private client division.