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First Citizens Wealth Expands California Bay Area Team, Appoints Lee Erby Region Head

1. Lee Erby appointed as Northern California Market Leader for First Citizens Wealth. 2. Erby will lead a team focusing on high-net-worth clients and businesses. 3. First Citizens Wealth aims to grow in Northern California's innovation economy. 4. Erby's experience includes leading roles at major banks. 5. First Citizens has operated in Northern California for over 40 years.

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Why Bullish?

The appointment of a local leader can enhance client relationships and growth. Historical examples show strong leadership in wealth management typically correlates with stock performance.

How important is it?

The leadership change directly influences operational effectiveness and client acquisition strategies for FCNCA.

Why Long Term?

Long-term growth expected as the wealth management division capitalizes on local expertise. Past initiatives in wealth management led to sustained revenue growth.

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, /PRNewswire/ -- First Citizens Wealth, a division of First Citizens Bank serving individuals and institutions, today announced the appointment of Lee Erby as Northern California Market Leader. Based in San Francisco, he reports to Art Saldivar, Senior Director of Regional Wealth for California, and he will lead a team of wealth consultants. Lee Erby Erby is responsible for growing a team serving the needs of high-net-worth individuals and families; the entrepreneurs, founders, investors behind the innovation economy; businesses and corporations; and nonprofits across Northern California.  First Citizens Wealth offers a full range of capabilities, including wealth planning, investment services, trust and fiduciary services, banking and lending. "As a lifelong Bay Area resident, Lee has deep local ties, and shares our strong commitment to this community," said Art Saldivar, Senior Director of Regional Wealth for California. "We are thrilled to pair his extensive leadership experience in wealth management with our deep expertise working with the individuals behind the innovation economy via the larger Silicon Valley Bank ecosystem. We are confident this will be a powerful combination that will help propel client success for generations to come and further advance our growth in the region." Lee has more than 20 years of wealth and private banking experience serving high net worth families and institutions. He has held senior positions at Bank of America Private Bank, Merrill Lynch, and Citi Private Bank.Lee is a graduate of California Maritime Academy with a degree in business administration and an MBA from Saint Mary's College of California.First Citizens Bank has six branches in the greater Bay Area region, and First Citizens' Silicon Valley Bank division has had a presence in Northern California for more than 40 years. Today, First Citizens Bank has more than 1,000 employees across the Bay Area, including more than 80 First Citizens Wealth employees. About First Citizens Wealth First Citizens Wealth offers a full range of financial planning, asset management, private banking, brokerage, investment advisory, insurance and trust services to individuals and institutional clients. Learn more at https://www.firstcitizens.com/wealth. About First Citizens Bank First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services with branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com. Disclosures First Citizens Wealth™ (FCW) is a marketing brand of First Citizens BancShares, Inc., a bank holding company. The following affiliates of First Citizens BancShares are the entities through which FCW products are offered. Brokerage products and services are offered through First Citizens Investor Services, Inc. ("FCIS") , a registered broker-dealer, Member FINRA and SIPC.  Advisory services are offered through FCIS, First Citizens Asset Management, Inc. and SVB Wealth LLC, all SEC registered investment advisers.  Insurance products and insurance are offered through FCIS, a licensed insurance agency. Banking, lending, trust products and services, and certain insurance products and services are offered by First-Citizens Bank & Trust Company, Member FDIC, and an Equal Housing Lender and SVB, a division of First-Citizens Bank & Trust Company.All loans provided by First-Citizens Bank & Trust Company and SVB are subject to underwriting, credit, and collateral approval. Financing availability may vary by state. Restrictions may apply. All information contained herein is for informational purposes only and no guarantee is expressed or implied. Rates, terms, programs, and underwriting policies are subject to change without notice. This is not a commitment to lend. Terms and conditions apply. NMLSR ID 503941Consulting services including overseeing plan design, investment fiduciary services, investment selection and monitoring, and continuous benchmarking are offered through First Citizens Bank and Trust Company.  First Citizens Wealth is a registered trademark of First Citizens BancShares, Inc. Media Contact Liz Shapiro[email protected] SOURCE First Citizens Bank

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