Abe Borenstein Joins First Republic Securities Company

NEW YORK, Nov. 29 /PRNewswire-FirstCall/ -- First Republic Bank , a leading provider of wealth management and private banking services, today announced that Abe Borenstein, who has 30 years of investment management experience, has been named Managing Director of First Republic Securities Company, LLC.

First Republic Securities, member NASD/SIPC, is a wholly owned subsidiary of First Republic Bank and offers a wide range of investment products, including municipal and U.S. Government securities, corporate debt and equity securities, and alternative investments.

As of Sept. 30, 2006, First Republic managed and administered $16.3 billion in wealth management assets from its investment management, wealth advisory, trust, and brokerage groups. First Republic Securities Company custodied approximately $3 billion of those assets as of Sept. 30, 2006. First Republic and its subsidiaries provide private banking and wealth management services to individuals, families, business and foundations.

Borenstein will work with high net worth individuals and businesses to meet their investment management needs and will coordinate with First Republic's Relationship Managers and Wealth Advisors. Borenstein is located at Rockefeller Center at 1230 Avenue of the Americas in Manhattan.

"Abe Borenstein has a long track record of success in helping individual investors and businesses meet their investment objectives," said Katherine August-deWilde, Executive Vice President and Chief Operating Officer of First Republic Bank. "Abe's leadership and experience will help First Republic as it continues to expand in New York. Abe shares First Republic's commitment to exceptional client service and will make a significant contribution to the team."

Before joining First Republic, Borenstein worked for Ryan Beck Inc. in Manhattan for the past five years as a First Vice President. Prior to that, he worked for Prudential Securities for fourteen years. Earlier in his career, Borenstein worked for Merrill Lynch and Bear Sterns. Borenstein earned a Bachelor of Business Administration at Baruch College, City University of New York. In addition to broker and principal licenses, he is an NASD Arbitrator and a Certified Investment Management Analyst.

First Republic Bank has offices in the San Francisco Bay Area, throughout California, and in Portland, Seattle, Las Vegas, Boston and New York. First Republic's investment advisory subsidiaries include Trainer Wortham & Co., Froley, Revy Investment Co., Starbuck, Tisdale & Associates, and First Republic Wealth Advisors. First Republic Trust Company offers comprehensive trust and wealth management services.

About First Republic Bank

First Republic Bank is a NYSE-traded, private bank and wealth management firm. The Bank and its subsidiaries specialize in providing personalized, relationship-based services, including private banking, private business banking, investment management, trust, brokerage and real estate lending. As of September 30, 2006, the Bank and its subsidiaries had total Bank assets and other managed assets of $31.8 billion. First Republic Bank provides access to its services online and through preferred banking or trust offices in ten major metropolitan areas: San Francisco, Los Angeles, Santa Barbara, Newport Beach, San Diego, Las Vegas, Portland, Seattle, Boston and New York City. More information is available on the Bank's website at http://www.firstrepublic.com/.