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Bank of America, formerly known as the Bank of Italy, was founded in San Francisco, California, United States, on October 17, 1904, [1] by Amadeo Pietro Giannini.By 1945, it had grown by a branch banking strategy to become the world's largest commercial bank with 493 branches in California and assets totaling $5 billion.
Amadeo Pietro Giannini (Italian pronunciation: [amaˈdɛːo ˈpjɛːtro dʒanˈniːni]), also known as Amadeo Peter Giannini or A. P. Giannini (May 6, 1870 – June 3, 1949) was an American banker who founded the Bank of Italy, which eventually became Bank of America. Giannini is credited as the inventor of many modern banking practices.
Bank of America, National Trust and Savings Association (NT&SA) was the primary bank subsidiary of BankAmerica Corp. Amadeo Giannini chose this unusual extension for the bank's name in order to highlight its multiple functions when it converted from a state charter to a national one. The bank was founded as Bank of Italy on October 17, 1904.
Bank of Italy was renamed on November 3, 1930, to Bank of America National Trust and Savings Association, [17] which was the only such designated bank in the United States at that time. Giannini and Monnette headed the resulting company, serving as co-chairs.
The Bank of Italy Building, also known as the Clay-Montgomery Building, is a building in San Francisco, California. [2] This eight-story building became the headquarters of A. P. Giannini's Bank of Italy (precursor to the Bank of America) in 1908 after the 1906 San Francisco earthquake and fire destroyed the original bank building on Montgomery Avenue (now Columbus Avenue) in the nearby ...
Italy's Treasury has picked Bank of America and Orrick as financial and legal advisers to secure a merger deal for bailed-out bank Monte dei Paschi (MPS) as part of its privatisation plan, four ...
Few people would argue that Bank of America escaped the financial crisis unscathed. More than anything, however, the nation's second largest bank by assets is now facing a reputational crisis. In ...
The resulting bank, known as Bank of Italy, emerged prior to the stock market crash of 1929. It was renamed on November 3, 1930, to Bank of America National Trust and Savings Association, [6] which was the only such designated bank in the United States at that time. Giannini and Monnette headed the resulting company, serving as co-chairs.