Flagstar Bank has hired six private client banking teams from First Republic Bank, with three teams in the West Coast and three in New York City.

Flagstar Bank bought deposits and loans from U.S. regulators after Signature Bank’s collapse.

Citizens Financial Group has also hired 50 First Republic senior private bankers and 100 support employees in Boston, Florida, New York, and San Francisco.

Regional banks are competing to manage wealthy people’s money, with Morgan Stanley and Bank of America investing in their high-net-worth business.