The eye-watering numbers show the role that incentives played in First Republic’s unusual - and ill-fated - lending binge. That surpassed even what First Republic’s new boss, JPMorgan Chief Executive Officer Jamie Dimon, was awarded for his 17th year running the nation’s largest bank. For at least one unnamed banker who wasn’t a top executive, the tally exceeded $35 million last year, the people said. Some racked up incentives for arranging home loans, amassing deposits and growing wealth-management portfolios. early this month - was paying dozens of employees more than $10 million apiece annually in the heyday before its collapse, according to people with knowledge of the situation. The San Francisco-based bank - which regulators seized and sold to JPMorgan Chase & Co. ![]() (Bloomberg) - First Republic Bank made its name catering to wealthy clients across California and New York, reeling in many with unusually sweet mortgages that eventually doomed the firm.
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