In his new role, Babb will work with clients to develop equity and fixed-income investment management services, the firm said in a statement.

Prior to joining First Republic Bank Private Wealth Management, Babb worked for Deutsche Bank Private Wealth Management in New York, most recently as director and senior investment advisor. Earlier in his career, he worked for Alliance Bernstein Investment Management & Research.

"Jason Babb is an experienced portfolio manager who will focus on developing investment solutions tailored to the specific needs of clients in the New York metropolitan area," said Katherine August-deWilde, president and chief operating officer at First Republic Bank.

In other recent hires, earlier this week First Republic Bank hired Susan Pilcher to its private wealth management unit’s San Francisco office, where she works with clients to design financial, estate and charitable giving plans.