George L. Graziadio, Jr.
| George L. Graziadio, Jr. | |
|---|---|
| Born |
George Louis Graziadio, Jr. 1919 Vernon, Connecticut, U.S. |
| Died | June 2002 Rolling Hills, California, U.S. |
| Cause of death | cancer |
| Residence | Rolling Hills, California, U.S. |
| Occupation | Commercial real estate developer, banker |
| Spouse(s) | Reva Mikles |
| Children | 1 son, 2 daughters |
George L. Graziadio, Jr. (1919-2002) was an American commercial real estate developer, banker and philanthropist. With George Eltinge, he developed 100 shopping centers for Kmart in California and elsewhere in the 1950s. In 1963, they co-founded Imperial Bancorp, which was later acquired by Comerica and renamed Comerica Bank-California. The Graziadio School of Business and Management at Pepperdine University bears his name.
George L. Graziadio, Jr. was born in 1919 in Vernon, Connecticut. His father was a realtor, insurance businessman and auctioneer. His paternal grandparents were Italian while his maternal grandparents were Irish.
Graziadio graduated from high school in 1937. He dropped out of college in 1939. He took a road trip from Connecticut to Los Angeles, California with a friend in 1939, and decided to stay there.
Graziadio started a commercial real estate development company with George Eltinge in the 1950s. The two men built a hundred shopping centers in California and elsewhere, most of which housed Kmart stores.
Graziadio and Eltinge co-founded the Comerica Bank-California in 1963. The two men cobbled US$1.25 million together from their social circles to start the bank after they failed to have access to loans from banks for their real estate development projects. It was later known as Imperial Bancorp. It had "$7.4 billion in assets and 15 branches," and mostly made loans to technology and entertainment companies in the Southland. For example, they made loans to Yahoo! and feature films. Graziadio served as its Chairman until it was acquired by Comerica, a bank based in Detroit, Michigan, for US$1.3 billion.
Graziadio donated US$15 million to Pepperdine University in 1996. As a result, the Graziadio School of Business and Management bears his name. Additionally, he donated US$650,000 to endow the George L. Graziadio Center for Italian Studies at California State University, Long Beach.
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