- The sudden and unexplained departure of co-CEO Gaye Erkan has shaken the Street and undermined a strong operating story predicated in part by steady, no-drama management from the top.
- First Republic's fourth quarter core pre-provision profits were a little soft, but the bank should generate several years of double-digit core earnings growth.
- First Republic is less "absolutely cheap" and more "a lot cheaper than it typically is", and this concern over executive turnover looks like an opportunity.
For further details see:
A Rare Opportunity At First Republic