First Republic names New York securities-biz head

FWR Staff

6 December 2006

Ryan Beck veteran to head San Francisco bank's Big Apple brokerage efforts. First Republic Bank has made Abe Borenstein a managing director of its brokerage unit, with the responsibility for overseeing broker-dealer operations in the New York area.

"Abe Borenstein has a long track record of success in helping individual investors and businesses meet their investment objectives," says Katherine August-deWilde, executive v.p. and COO of First Republic Bank. "Abe's leadership and experience will help First Republic as it continues to expand in New York."

Borenstein comes to First Republic with over 30 years of experience in the brokerage business. Before joining First Republic, Borenstein spent five years with Ryan Beck. Prior to that, he worked at Prudential Securities, Merrill Lynch and Bear Sterns.

In his new role, Borenstein will help to meet the investment management requirements of high-net-worth individuals and institutions.

First Republic Securities, a wholly owned subsidiary of San Francisco-based First Republic Bank, manages and administers $16.3 billion in assets in its investment management, wealth advisory, trust and brokerage divisions. -FWR