In 1928, Amadeo Giannini, born in California to Italian immigrant parents, formed a holding company, the Transamerica Corporation, to consolidate his existing financial ventures, which began business with $1.1 billion in assets and both banking and non-banking activities.
In 1928, Amadeo Giannini, the son of California-born Italian immigrants, formed the Transamerica Corporation, a holding company that consolidated his diverse financial ventures, initially worth $1.1 billion and encompassing both banking and other business activities.