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Rival to A.P. Giannini
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FINCEN
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Joined: 08 Mar 2006
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PostPosted: Sat Mar 02, 2013 9:08 pm    Post subject: Rival to A.P. Giannini Reply with quote

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Joseph F. Sartori



While not as well known as his northern California rival, Joseph Sartori was every bit as important in southern California to the success of Italian business as Giannini. You might say that at one point he may have been more influential as the primary source of funding for southern California's Italian vintners during the decades leading up to the passing of the national prohibition act.

In addition to his dutites as chairman of the managing committee of the Security-First National Bank, Sartori also served as leading member of the University of California (UCLA) Board of Regents along with his wife. A lawyer by trade, Sartori took advantage of a huge real-estate boom in the 1880s to become a prominent businessman not only in the Italian colony but city wide. With the proceeds of his real-estate holdings, Sartori opened Security Savings Bank and Trust (later Security Pacific Bank) for decades the chief rival of Bank of America.

Upon his death Sartori left close to $2 million to the California Community Federation's Community needs fund. Sartori's financial assistance gave rise to Secondo Guasti who would oneday own what was for a time the world's largest vineyard property.

Sartori photo added 3/12/2010
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