Word: gianninis
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...Idea. A top-notch Minnesota banker, greying, heavy-set John Cameron Thomson, had the idea. "Tom" Thomson, 53, heads the Northwest Bancorporation (consolidated assets: $800 million), an 82-bank Midwestern outfit that ranks second to the Giannini Transamerica Corp. among U.S. bank holding companies. Thomson is also vice chairman of the U.S. Chamber of Commerce's Economic Policy Committee, and one of their powwows last spring set him to thinking...
...retired, dammit," says leonine old Amadeo Peter Giannini, chairman of the board of California's huge Bank of America, whenever reporters note that he still bosses his 478-branch colossus.-But 73-year-old A. P. still goes to work in his walnut-paneled San Francisco office every day; he has been "retiring" ever since he was 31, when he decided that he had earned enough in his stepfather's fruit and vegetable business to take life easy. Actually no one believes his beloved bank will be run by anyone else so long as A. P. can draw...
...Comers. Nonetheless Banker Giannini has for years been stocking the executive floor of his bank with likely younger men who may one day succeed him. His taciturn lawyer son Lawrence Mario (48), who has been Bank of America president since 1936, has always been frail, lately has spent long periods away from his desk. Last year, when A.P. bought California's Pacific Finance Co., he made its go-getting, 50-year-old president Francis Baer vice chairman of the bank's board, and West Coast financiers buzzed that A. P. bought the company...
Carl Wente has moved steadily up through the Giannini empire for the past 25 years, is a man after old A. P.'s heart. He went to work after two years of high school, hates "golfing bankers." When someone asks him how much bigger the Bank of America can become, his uneven beetle brows twitch and he snaps back "How high...
California's 73-year-old Amadeo Peter Giannini is probably the world's most ardent exponent of branch banking. His huge Bank of America, fourth largest bank in the U.S., is an agglomerate of 30 years of Giannini acquisitions. Its 487 branches blanket the state of California. Its parent company, Transamerica Corp. (whose stock is so popular with California Italians that it sometimes accounts for almost half the trading on the San Francisco Stock Exchange), owns a majority interest in 23 other West Coast banks, plus a juicy 8.7% of Manhattan's National City Bank...