Business: Second Empire

In October 1928, burly Amadeo Peter ("A. P.") Giannini clearly asserted his intention of throwing a network of banks across the U. S. when he named his bank holding company Transamerica Corp. That year the No. 1 U. S. branch banker was well on his way toward his goal, with 2,000,000 loyal depositors, mostly of Italian origin, in a formidable lineup of banks in California, New York and Italy. Already he had begun nosing into Chicago, Kansas City, St. Louis and New Orleans, dabbling in the security trading business through Bancitaly Corp.


Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!