Tag: Private Banking/Wealth Management
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The founder of the First Republic Bank earned a high salary, just like his relatives
First Republic Bank FRC -5.03% paid family members of founder James Herbert millions of dollars for work at the lender in recent years, including for advisory services related to interest rates and risk, according to public disclosures the bank made as part of annual filings. The bank paid Mr. Herbert, who was CEO before taking […]
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First Republic Bank asks Lazard for help with strategic options assessment
First Republic Bank FRC 29.47% strengthens his ranks of advisors as the troubled lender tries to stay afloat and plan for a post-crisis future amid a transatlantic crisis of confidence in the banking system. The Bank of California this week tapped Lazard Ltd. LAZ 3.23% to help assess strategic options, such as a sale, a […]
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JPMorgan CEO Jamie Dimon leads efforts to create new First Republic Bank Rescue Plan
Discussions, while tentative, focused on how the industry could arrange an investment that would bolster the bank’s capital, according to people familiar with the matter. One of the options on the table, people said, is an investment in First Republic by the banks themselves. Eleven major banks joined forces last week to deposit $30 billion […]
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From the sudden collapse of the SVB to the consequences of Credit Suisse: 8 charts show turbulence in the financial markets
A tumultuous week in US financial markets ended on an uncertain note Friday after a massive $30 billion injection of large bank deposits into First Republic Bank failed to appease investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – concerns about weakness in […]
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First Republic Bank in bailout talks with America’s largest lenders
The largest banks in the US, including JPMorgan Chase JPM 1.62% & Co., discuss a joint rescue of First Republic Bank FRC -13.67% that could include a significant capital injection to prop up the beleaguered lender, people familiar with the matter said. JPMorgan partners with Citigroup Inc., C 0.73% bank of America Corp. and Wells […]
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First Republic receives additional funding from Fed, JPMorgan
First Republic Bank was under pressure after the collapse of Silicon Valley Bank. Photo: Devin Blaskovich for the Wall Street Journal Updated March 12, 2023 at 9:00 PM ET First Republic Bank FRC -14.84% said it has supported its finances with additional funding from the Federal Reserve and JPMorgan Chase JPM 2.54% & What. The […]