A six-member group of Florida-based wealth managers will join First Republic Investment Management, the bank announced. They will join First Republic from J.P. Morgan Securities.
“The addition of this successful group of wealth professionals further expands our capabilities in South Florida and will allow us to introduce more clients to First Republic’s unique brand of exceptional client service,” said Bob Thornton, president of First Republic Private Wealth Management.
San Francisco-based First Republic Investment Management (a subsidiary of First Republic Bank) had $151 billion in total wealth management assets as of Dec. 31, 2019, according to an earnings call earlier this week. The six managers joining the bank have more than 135 cumulative years of experience in the industry.
Salvatore A. Tiano, John Emery Smyth, Louis J. Ventura and Daniel Tumba were each named managing director and wealth manager at First Republic, while Jason O’Brien and Gregory P. Saville were named vice president and wealth manager. The team will focus on investment management and retirement planning for individuals, families, nonprofits and foundations out of their Jupiter, Fla., location.
First Republic Bank was founded in 1985, and while based in San Francisco, has preferred banking and wealth management offices throughout the country. Last summer, First Republic gained headlines after the team from RIA Luminous Capital departed from First Republic after joining only several years earlier, taking approximately $17 billion in managed assets with them.