First Republic Bank’s founder James Herbert, along with his son and brother-in-law, have secured multi-million dollar paydays in recent years, an investigation from The Wall Street Journal revealed Friday.
First Republic Bank’s founder James Herbert, along with his son and brother-in-law, have secured multi-million dollar paydays in recent years, an investigation fromrevealed Friday.
The investigation comes after the bank’s recent catastrophic stock crash, with shares dropping 70 percent last week. Herbert made $17.8 million in 2021, far more than CEOs at similarly-sized banks, according to theMeanwhile, his son made $3.5 million to oversee a lending unit, and his brother-in-law's consulting company made $2.3 million for advisory work, the
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