A First Republic Bank branch is pictured in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike Segaris exploring an asset sale of up to $100 billion, Bloomberg News reported on Tuesday, citing people familiar with the matter.said. FRC did not immediately respond to Reuters request for comment.its balance sheet and said it aims to increase its insured deposits and cut borrowings from the Federal Reserve Bank.
It also aims to slash expenses by cutting executive compensation, paring back office space and cutting nearly 20% to 25% of employees in the second quarter, the lender had said on Monday.
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