One First Republic Employee Was Making More Than Jamie Dimon, Others Were Taking Home Eye-Watering Amounts
Portfolio Pulse from AJ Fabino
Following the collapse of First Republic Bank, details of its employees' compensation have emerged, with some earning over $10 million annually. The bank is now under JPMorgan's control after a seizure by regulators. First Republic's high-risk strategy and generous employee incentives contributed to its downfall.
May 25, 2023 | 6:41 pm
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JPMorgan now controls First Republic Bank after its collapse due to high-risk strategies and generous employee incentives. The fate of First Republic's employees remains uncertain.
JPMorgan's acquisition of First Republic Bank is mentioned in the article, but the impact on JPMorgan's stock price is neutral in the short term. The fate of First Republic's employees is uncertain, but this news is not critical for JPMorgan investors.
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RELEVANCE 80