First Republic Bank paid family members of its founder, James Herbert, millions of dollars for work at the lender in recent years
Bank paid a consulting company owned by the founder’s brother-in-law and employed the founder’s son, including for consulting services related to interest rates and risk, according to public
disclosures the bank made as part of annual filings.last year, $17.8 million in 2021, the bank’s disclosures for that year said. The compensation was more than CEOs at most similar-sized banks.
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