Commercial real estate finance firm Greystone is expanding into wealth management and private banking, naming the former co-chief executive officer of First Republic as its new head.

Hafize Gaye Erkan has been named Greystone’s CEO effective immediately, with her “executive responsibilities” set to begin in September, the company says. She will report to Steve Rosenberg, who will continue to serve as the executive chairman of the board, according to Greystone.

The company says that Erkan and Rosenberg will collaborate “on a two-part joint vision for the next phase of Greystone’s growth.”

“First, they will accelerate Greystone’s core commercial and multifamily real estate lending and capital markets business, through investments in technology, operations, and people,” according to the announcement.

“Second, leveraging Greystone’s client-centric approach, they will expand the business into adjacent financial services, including expanded lending products, and private wealth management, as well as real estate and fintech fund management,” the company added. “Ms. Erkan and Mr. Rosenberg are also exploring private banking and residential mortgage lending opportunities.”

Erkan joined First Republic in 2014 after spending nine years at Goldman Sachs, where she was managing director and head of investment banking in the financial institutions analytics and strategy group, according to her LinkedIn profile.

At First Republic, Erkan began as the chief investment officer and co-chief risk officer and rose through the ranks until she became co-CEO, president and board member last year, leaving the firm in December, according to LinkedIn.

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