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First Republic pays $20 minimum wage in an act of altruistic self-interest

Owner of a $83.6-billion RIA roll-up, the San Francisco-based bank reacts to tightening labor supply, political pressure and its own good cash flow

Tuesday, January 17, 2017 – 8:36 PM by Brooke Southall
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James H. Herbert II still gets paid 100 times more per hour than his bottom-tier workers.

Related Moves

In RIA custody milieu, Charlie Scharf's BNY Mellon exit for Wells Fargo is latest unforeseen vapor trail after Lisa Dolly, Tim Hockey, Terri Kallsen, Andy Gill and others fade into the firmament

The CEO-for-rent will face a monumental challenge turning around Wells Fargo, but perhaps not as bleak a landscape for profit margins; Is the RIA free ride coming to an end?

October 1, 2019 – 1:06 AM



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