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Essay / Research Paper Abstract
This 5 page report
discusses A. P. (Amadeo Peter) Giannini (1870-1949), one of the
most influential forces in the development of the modern banking
system in the United States. The son of Italian immigrants,
Giannini founded the Bank of Italy and considered that what he
was creating was a bank for poor people. He founded the Bank of
Italy in San Francisco so that businesses could rebuild after the
1906 earthquake. As the bank became increasingly popular,
Giannini decided to purchase small banks in outlying areas, in
order to expand the Bank of Italy’s reach and better serve both
customers and the institution’s own bottomline. Regardless of
opposition from government officials and his various competitors,
he continued with his efforts. As a result, the bank created the
first statewide branch banking system. He also renamed the
institution the Bank of America. By the time of his death in
1949, the Bank of America had become the largest unincorporated
bank in the world, with more than 3 million depositors and $6
billion in assets. Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: D0_BWgianni.wps
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