Amadeo Giannini

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Amadeo Giannini (born 6 May 1870, 3 June 1949) is an American banker, founder of Bank of America.

He was born into a family of Sardinian emigrants. At the age of thirteen he dropped out of school when he realized that he would be better off managing his own business. He was initially involved in various professions such as a broker or seller of products from nearby farms. In his work he was very successful. After marrying with Clorinda Cuneo worked as land manager for his father-in-law and as director of Columbus Savings & Loan - a company in which his father-in-law had a stake. Turning to the Italian immigrants, whose number was still growing, decided to set up a bank, representing their interests. On October 17, 1904, Bank of Italy was founded in San Francisco. After a year, the value of savings there was $ 700,000. After the earthquake in San Francisco, Gianini began to vigorously help the victims of the tragedy by lending and saving money. This led to the rapid development of the bank, which opened new branches. In 1928, a merger with Bank of America in Los Angeles and the adoption of the name Bank of America. It was one of the first national banks, before the banks limited their operations to one city or region. Gianini invested in the film industry (he gave loans to Walt Disney), vineyards in California, and Hewlett-Packard started his business. Gianini was also the founder of Transamerica Corporation's insurance holding company. Bibliography

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