First Republic Bank

First Republic Bank is a San Francisco, California based bank and wealth management company. It has over 4,800 employees working across 80 different locations in the United States as of 2020. Some of the locations with its operations include San Francisco, Los Angles, San Diego, Palo Alto, New Port Beach, Santa Barbara, New York City, Portland, Greenwich, Boston, etc. It offers both personal and business banking along with wealth management and trust services to a low-risk clientele with high net-worth. Some of its services are financial planning, brokerage, savings, foreign exchange, endowment management etc. The bank also offers loans such as commercial real estate loans, personal line of credit, residential lending, small business loans, etc. First Republic serves industries like medical and dental practices, law firms, property management firms, innovators, independent schools, wineries and vineyards, private equity and venture capitalists, non-profit organisations, hedge funds and alternative investments. As of 2020, it has four subsidiaries, namely, First Republic Trust Company, First Republic Investment Management, Inc., First Republic Securities Company, LLC and First Republic Trust Company of Delaware LLC. It is a component in both the S&P 500 as well as Russell 1000 indices, and trades via the New York Stock Exchange under “FRC” as its trading symbol. The company was founded back in 1985 as a small thrift company, and since then has undergone several ownership changes. It was first purchased by Merrill Lynch in 2007; by 2008, Bank of America acquired Merrill Lynch and its subsidiaries, and by 2009 half of First Republic was purchased by General Atlantic and Colony Capital. In 2016, it acquired a start-up in Boston called Gradifi for an undisclosed amount. First Republic Bank has been recognised by many of the respected organisations over the years. For example, in 2018 Forbes included it in its Global 2000 list, and as of 2020, has maintained a position in that list. In 2020, it also entered Forbes’ list of America’s Best Employer By State and America’s Best Banks. As of the same year, it held the 627th rank in the Fortune 1000 list.