San Francisco, CA – The Federal Reserve Bank of San Francisco has announced the reappointment of Mr. James H. Herbert, II, founder, chairman, and chief executive officer of First Republic Bank, to represent the District on the Federal Advisory Council for another one-year term. Mr. Herbert’s first term began on April 1, 2018.
James H. Herbert, II
First Republic Bank is a private bank and wealth management business with over $116 billion in bank assets and $151 billion in wealth management assets. Before establishing First Republic Bank in 1985, Mr. Herbert was founding president and chief executive officer of San Francisco Bancorp.
He holds a bachelor of science from Babson College and an MBA from New York University.
The Federal Advisory Council, a body created by the Federal Reserve Act, consists of one member—generally from the commercial banking industry—from each of the 12 Reserve Bank Districts. The council ordinarily meets four times a year with the Board of Governors in Washington, D.C., to discuss economic and banking matters. Members customarily serve three one-year terms.
The Federal Reserve Bank of San Francisco (SF Fed) works to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans. As part of the U.S. central bank, the SF Fed serves the Twelfth Federal Reserve District, which covers the nine western states—Alaska, Arizona, California, Hawai’i, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. By pursuing our two key goals of maximum employment and price stability—known as the Fed’s dual mandate—we work toward supporting an economy that works for everyone.