First Republic Bank continued the revamp of its senior management team by appointing Susie Cranston its next chief operating officer.
Cranston joined the San Francisco bank more than nine years ago and rose to senior executive vice president for private wealth management before being named COO, First Republic said in a news release.
She starts her new job next month and will help solidify First Republic's executive team after the abrupt departures early this year of two key leaders from the $198 billion-asset bank.
After Jim Herbert, First Republic's founder and executive chairman, announced a six-month medical leave in December, his co-CEO and
A few days after Erkan's resignation, Jason Bender, the bank's previous COO, announced his immediate departure, citing family reasons.
Following the recent resignations of the San Francisco bank’s co-CEO and chief operating officer, executives sought to project stability during an earnings call Friday. Employee morale is strong, and finding a leader who’s the right fit is more important than filling the job quickly, they said.
In March, First Republic named then-president Mike Roffler as
Cranston will be responsible for applying her wealth management experience, which includes strategic planning and platform advancement of nearly $250 billion in managed assets, across First Republic's portfolio of private and business banking.
"[Cranston] has been a key contributor to our growth with a proven track record of creating scalable solutions," Roffler said in the release, which was issued Monday. "Susie is well positioned to continue to drive our client service successes in her new role at First Republic."
