businessinsider.in
First Republic is racing to strengthen itself. The bank said Monday that it will cut as much as 25% of staff, and is pursuing strategic options after revealing that deposits plunged by more than $100 billion in the first three months of the year.That sent the stock as much as 48% lower on the day, with First Republic now down 93% for the year to date. Gillian Tan and Matthew Monks at Bloomberg subsequently reported that the bank is exploring an asset sale in the range of $50 billion to $100 bill…
over 1 year ago