Replies to post #1036 on First Republic Bank (FRCB)

[shajandr]

There are good people in badd organizations. The smart ones leave when they recognize the organization is shit.


JPMorgan wanted these people and their books of business ($1.3B of AUM). JPMorgan is very good at hiring good asset managers. Goldman is the gold standard, butt JPM is right below Goldman alongside MorganStanley.

Bottom line is these people bailed and they landed in a much better spot at JPM. And the fact that JPM wanted them says all that is necessary.

Going from FRC to JPM is like going from owning a '78 Yugo to a new Porsche (Goldman is the Lambo or Ferrari). I don't see how anyone can CONtest that these folks are in a MUNH better place after leaving the sinking FRC. It would be like saying that a person who went from a Yugo to a Ferrari was trading down. Makes no sense at all.