Erkan will oversee the firm’s investment portfolio and direct the enterprise risk management function, initially as co-chief risk officer. She has extensive expertise in quantitative risk modeling, stress testing and balance sheet optimization for financial services companies, First Republic said.

Erkan has worked at Goldman Sachs since 2005, where she was managing director and held a senior role in the investment banking division.

In her new role – effective in June - at First Republic, she will report to chairman and chief executive Jim Herbert and will be based in New York.

Family Wealth Report has contacted the firm about whether Erkan replaces anyone as CIO and who she serves alongside as co-CRO. Will update in due course. 

In a similar move last month, First Republic appointed Bill Ward as executive vice president, chief of BSA/AML and security officer .