New York-listed First Republic Bank has acquired a 24.5 per cent stake in California-headquartered business management firm Nigro Karlin Segal & Feldstein.

The financial terms of the deal were not disclosed.

First Bank said that the firms had worked together for a number of years and that the deal provided the opportunity for even further collaboration.

Nigro Karlin provides a range of business management services to clients which include members of the entertainment industry, executives, entrepreneurs and athletes.

First Republic Bank and its subsidiaries provide private banking, private business banking and private wealth management services.