Amadeo P. Giannini: The Reluctant Millionaire Daniel Alef

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11 pages


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Amadeo P. Giannini: The Reluctant Millionaire  by  Daniel Alef

Amadeo P. Giannini: The Reluctant Millionaire by Daniel Alef
| Kindle Edition | PDF, EPUB, FB2, DjVu, AUDIO, mp3, RTF | 11 pages | ISBN: | 5.59 Mb

Bank of America’s $50 billion acquisition of Merril Lynch during the turbulent days of September 2008, stunned global financial markets, but it has now come back to haunt the largest bank in the U.S. as the true measure of Merril Lynch’s losses became evident. One wonders how Amadeo P. Giannini would have reacted to the news- whether he would have approved the risks assumed by the bank’s management or excoriated its executives for inadequate due diligence. After all, Bank of America was his brainchild and a part of his soul- he devoted his life to making it a bank for ordinary folks, the hoi polloi, not just the rich and powerful- a bank he built on a solid foundation and sound judgment.

Giannini became a banker at the age of 34 more by accident than by design. In less than two decades he was one of Americas leading bankers. Author Daniel Alef takes Gianninis story from inception to his ultimate seat at the apex of American banking and shows why he was admired and trusted, in contrast to some of the men in banking and finance who brought about the global recession of 2008.

[3,045-word Titans of Fortune article].



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