Saturday 1 August 2020

On This Day In 1907: Bank of America Was Founded By Amadeo Giannini

Who Made America? | Innovators | A. P. Giannini
Giannini was the only banked named to the Time 100 list.
(c) PBS


Italian-American banker Amadeo Giannini founded 'Bank of Italy' in 3433 Mission Street, San Fransisco in 1907.

Giannini is credited as the inventor of many modern banking practices such as offering bank services to middle-class Americans rather than only the upper-class.

He also pioneered the holding company structure and established one of the first modern trans-national institutions. 

It was later renamed to 'Bank of America' in 1930 with his headquarters now in Charlotte, North Carolina as of 2018 the bank revenues $91.24 billion.

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