First Republic Bank in San Francisco has promoted Mike Selfridge to the newly created role of chief banking officer.

Selfridge, who will continue to oversee private banking for Northern California and information technology, will now also be responsible for nationwide business banking at the $55 billion-asset bank.

Selfridge's promotion underlines the "close coordination of private and business banking activities," Jim Herbert, chairman and chief executive, said in a Monday news release.

The 48-year-old Selfridge joined First Republic in 2012 after 18 years running Silicon Valley Bank's U.S. regional banking division.

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