He never dreamed of being a banker when he was a child, but today, there is nary a student of retail banking who does not know the incredible story of this determined entrepreneur. A son of poor immigrants, Giannini helped build the first national system of banks for the ordinary person, all the while fueling California’s economic development and inspiring a new generation of entrepreneurs. What were Giannini’s secrets for success?
Roots: Giannini came from a family that had uprooted itself from its home country in order to pursue a better life in America, and he never forgot it. He had a vision to create a bank that served the very people he had grown up with – the average worker. By refusing to cow tow to the larger banks, and by being willing to take risks on often nothing more than a handshake, Giannini stayed true to his roots in creating a bank for the little guy.
Relationships: Whereas most other bankers at the time had little interaction with their customers beyond what was absolutely necessary for business, Giannini made sure that he developed strong connections with all of his customers. Knowing all of their names and situations, he became involved in their struggles for a better future. It was this characteristic of Giannini’s that endeared him to the ordinary worker, and what caused people to travel outside of their own cities just to do business with his bank.
Priorities: He had grown a small business into the country’s largest bank, but that is not something that would be reflected in his own bank account. From refusing salary bonuses to giving millions of dollars away to charity, Giannini had no interest in pocketing money for himself beyond what was necessary. If profits were a good thing it was only because they could then be reinvested in the business or given back to society. That unique attitude of Giannini’s was what gained him the admiration of all the people he served.
Drive: At present, the Bank of America has close to 6,000 branches that serve one in four American households. If Giannini were alive today, he would be beaming at the realization of his dream. But, in his time, banks were limited to operations in just one city. It was Giannini who pushed the boundaries for state-wide and nation-wide banking, paving the way for the international banking system active in the world today.
Diversification: From the Golden Gate Bridge to “Snow White and the Seven Dwarves”, Giannini’s name can today be found behind many of America’s most famous cultural icons. Where other entrepreneurs were afraid to take risks, Giannini got right in the middle and mixed things up. He supported projects he believed in even when he was unsure of the financial outcome. It was in doing so that Giannini succeeded where no others had.
American Banker Magazine recognizes Giannini as one of the most influential bankers of the twentieth century. Even the U.S. Postal Service issued a postage stamp that bears his portrait. Today, it is not just the working class families that Giannini was willing to give loans to who remember him. Giannini’s impact on the international banking system, the economic development of the U.S., and American culture itself can still be felt the world over.
Banking on Success: How Giannini Achieved his Greatest Ambitions
Like this article? Share it with your friends
 |
Related Articles |
|
 Lesson #4: Don’t Let Anyone Keep Your Ambitions in Check
|
| |
 When Giannini first came onto the scene, the banking world was a very different one to that which exists today. Most banks were single, stand-alone entities, and had limited capital, which meant that they could only...
|
|
Banking on Success: How Giannini Achieved his Greatest Ambitions
|
| |
He never dreamed of being a banker when he was a child, but today, there is nary a student of retail banking who does not know the incredible story of this determined entrepreneur. A son of poor immigrants, Giannini...
|
|
Lesson #5: Branch Out To Build Your Base of Success
|
| |
Though you might not know it since Giannini never liked to toot his own horn, America’s most beloved banker actually had a significant impact on American culture that was far removed from the world of banking. From ...
|
|
Lesson #3: Money May Have Much Worth, But It Has Little Value
|
| |
When Giannini died at the age 79, his total net worth was less than $500,000. That was a lot of money for the time, but nowhere near the amount he could have accumulated had he been money hungry; he wasn’t. “Money i...
|
|
America’s Blue-Collar Banker: The Early Years of Amadeo Peter “A.P.” Giannini
|
| |
Home mortgages, auto loans, installment credit – they may be taken for granted today, but before this son of Italian immigrants came along, such things didn’t exist. Amadeo Peter Giannini – A.P. to his friends – rev...
|
|
|
A.P. Giannini Newsletter
Get our free newsletter to learn more about A.P. Giannini and other famous entrepreneurs!
|
|
|
![[Get Copyright Permissions]](http://license.icopyright.net/images/icopy-w.gif){kind=small}
