George L. Graziadio, Jr., Co-Founder, Imperial Bank Succumbs to Illness
George L. Graziadio, Jr., co-founder of Imperial Bank and a generous benefactor to many charities and universities, including Pepperdine UniversityÂ’s Graziadio School of Business and Management, succumbed to a long struggle with cancer on June 6 at his home on the Palos Verdes Peninsula with his family present.
(PRWEB) June 13, 2002
George L. Graziadio, Jr., co-founder of Imperial Bank and a generous benefactor to many charities and universities, including Pepperdine UniversityÂ’s Graziadio School of Business and Management, succumbed to a long struggle with cancer on June 6 at his home on the Palos Verdes Peninsula with his family present.
“In losing Mr. Graziadio we have lost a much-loved member of the Pepperdine family,” noted Pepperdine president Andrew K. Benton. “His vision and leadership propelled the Graziadio School to a preeminent position among business school worldwide. He has had a profound impact at Pepperdine and he will be missed in countless ways.”
Mr. Graziadio was a tireless entrepreneur, banker and community sponsor who lived his motto: “TNT – Today, Not Tomorrow.” He was often quoted as saying that he was constantly driven to do more and to always do better. He believed that if better was possible, then good was not enough.
Mr. Graziadio was a legendary real estate developer and banker in Southern California for more than 50 years. The Vernon, Connecticut, native came to California during World War II and in the early 1950s formed a real estate development company with George Eltinge. The “Two Georges,” as they were known, developed shopping center properties throughout the United States.
In 1963, with $1.25 million in private investment and a belief that they could offer the Los Angeles business community a better “business bank,” Mr. Graziadio and Mr. Eltinge formed Imperial Bank, which became Imperial Bancorp in 1968. The bank grew to $8 billion in assets, solely through internal growth and without acquisitions, with $600 million in capital and reserves. Imperial Bank had a national presence in emerging growth industries in the 1990s with offices in Phoenix; Boston; Austin; Dallas; Denver; Reston, Virginia; Raleigh/Durham, North Carolina; and Kirkland, Washington. Imperial Bank’s entertainment division was the largest financer of feature motion pictures in the world. Mr. Graziadio served as chairman of the board, CEO and president. Former California governor Goodwin J. Knight served on the original bank board of directors.
In November 2000, Imperial Bancorp merged with Comerica, Inc. in an exchange of shares valued at $1.3 billion. The combined assets are now approximately $50 billion with market capital at approximately $11 billion. Mr. Graziadio was serving as Chairman of Comerica Bank-California until his death.
He was past president and founding director of the Torrance Memorial Medical Center Health Care Foundation where the radiology center is now named the Graziadio Radiology Center. In 1996, Pepperdine University renamed its business school the George L. Graziadio School of Business and Management following the largest business school endowment in America at the time by Mr. Graziadio and his wife Reva. Mr. Graziadio created the Graziadio School Board of Visitors and served as its chairman.
The Graziadio School is the largest business school west of Chicago and is ranked among the Top 20 in the nation for its Executive MBA and Fully Employed MBA programs. More than 2,300 mid-career business professionals currently attend The Graziadio School at seven campuses throughout California.
During the past five decades, Mr. Graziadio had been honored by dozens of non-profit organizations that he supported philanthropically. He often said, “You earn your living by working, your earn your life by giving.” In April 2002, he received the prestigious Horatio Alger Award in Washington, D. C., joining other great Americans such as President Dwight D. Eisenhower, Secretary of State Colin Powell, Senator Robert Dole, and Oprah Winfrey. His many honors include: The Ellis Island Medal of Freedom; the Grande Ufficiale Award in the Order of Merit of the Republic of Italy; Americanism Award and the Good Scout Award from the Boy Scouts of America; the Eddy Award from the Los Angeles Economic Development Agency; the President’s “E” Award from the U. S. Department of Commerce; the Albert Schweitzer Leadership Award from the Hugh O’Brian Youth Foundation; and honors from the Provence of Puglia, Italy, Newcomen Society, Pepperdine University, B’nai B’rith Foundation, National Italian American Foundation, the Center for the Partially Sighted, the Sons of Italy of America, the Muscular Dystrophy Association, the House Ear Institute, and a Doctor of Humane Letters from Chapman University.
Mr. Graziadio served as a member and director of many organizations, including: 20-30 Clubs, World Council of Young MenÂ’s Service Clubs, University of Southern California Associates, Pepperdine University Associates, the Anderson School Board of Visitors at UCLA, International Council of Shopping Centers, Board of Trustees of the HOBY Foundation, French Foundation for Alzheimer Research, Los Angeles World Affairs Council, GovernorÂ’s Commission of the Californias, the Aero Club of Southern California, Town Hall of California, California BankerÂ’s Association, American BankerÂ’s Association, Independent BankerÂ’s Association, YMCA of Metropolitan Los Angeles, Los Angeles Convention and Visitors Bureau, Delta Mu Delta Honor Society of United States Business Schools, Los Angeles Chamber of Commerce, GovernorÂ’s California Italian American Task Force.
Mr. Graziadio was a passionate golfer and belonged to numerous country clubs, including Bel Air, Rolling Hills, Lake Arrowhead, Indian Ridge, Red Rock Country Club in Las Vegas, Royal Oaks Country Club in Houston, and The Vintage Club. He was one of only a handful of amateurs who played in 30 consecutive Bob Hope Desert Classic golf tournaments.
His wife of 59 years, Reva, two daughters, Mary Lou Area, Alida Calvillo, and one son, G. Louis Graziadio, III, survive Mr. Graziadio. There are nine Graziadio grandchildren and six great grandchildren.
Services will be held on Tuesday, June 18 at the Pepperdine University Firestone Fieldhouse in Malibu California. For details please call 310-506-4448 or visit http://www. bschool. pepperdine. edu/media/graziadio. html (http://www. bschool. pepperdine. edu/media/graziadio. html) Visitors may also send condolences to the family through this site.
