Business people in the banking sector include the individuals who either solely or jointly with partners form a private bank. Banks are the financial institutions that accept deposits from customers, pay interest and provide other financial services like loans and mortgages to them. Banks play a vital role in the financial system and economy of a country, and are therefore highly regulated by the governments. Even the owners of the private banks need to adhere to the governmental policies regulating banks. Business people wanting to start banks have to possess business acumen along with a strong base in finance and have to have a deep knowledge and understanding of the various laws and regulations governing the banking sector. Private Banks play a major role in the expansion of business activities by proving essential financial services to the general public. The owners of private banks are also more receptive towards adopting newer tools and technologies to enhance the banking experience of their clients, especially in the developing countries. Starting a private bank is a challenging task, more challenging than starting any other kind of a venture; it is something only highly ambitious individuals with a profound knowledge of legal and financial matters will venture into. What follows is a collection of the biographies, timelines, trivia and other information about the professional and personal lives of some of the world’s most famous bankers.
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Ben Bernanke is an American economist who served two terms as the chair of the Board of Governors of the Federal Reserve System from 2006 to 2014, during which he supervised the Federal Reserve's response to the global financial crisis (GFC). For his efforts during GFC, Ben Bernanke was named Time Person of the Year in 2009.
The son of a banker father, Italian economist Mario Draghi initially served as the president of the European Central Bank and the Bank of Italy governor, and is the current prime minister of Italy. The media named him Super Mario for efficiently handling the Eurozone debt crisis.
After his 13-year stint with Goldman Sachs, Mark Carney served as the governor of the Bank of Canada and the Bank of England. He was also part of the Canadian finance department. He is an ice-hockey lover and played the sport actively during the school and university days.
Edmond James de Rothschild was a French businessman with deep connections to the Rothschild banking family. He was a strong supporter of Zionism and donated significant amounts that went towards the establishment of the State of Israel. He also provided funds for the foundation of the Friends of the French National Museum of Natural History Society.
One of the main patriarchs of the famed Medici family that ruled Florence, Italian banker Cosimo de' Medici was one of the richest men of his time. Medici was also a great patron of art and architecture. He also arranged a search for ancient manuscripts and opened a public library.
The son of wealthy Pittsburgh banker Thomas Mellon, Andrew William Mellon had followed in his father’s footsteps, to be a banker. He had also been the American ambassador to the U.K. and the American secretary of the treasury. He owned companies such as Alcoa, Old Overholt whiskey, and Gulf Oil.
Jamie Dimon is an American business executive, currently serving as Chief Executive Officer and Chairman of the largest of the popular American banks, JPMorgan Chase. He is among the few bank chief executives in the world to become a billionaire. In 2006, 2008, 2009, and 2011, Jamie Dimon was named in Time magazine's world's 100 most influential people lists.
Apart from being the president of Harvard, Lawrence Summers has also been the U.S. secretary of the treasury, the World Bank’s chief economist, and the NEC director. The MIT alumnus became one of the youngest tenured faculty members at Harvard. He also writes regularly for The Washington Post.
Mikhail Prokhorov is a Russian billionaire, former owner of the American professional basketball team Brooklyn Nets, and politician. One of Russia's most prominent industrialists, Prokhorov is credited with helping Norilsk Nickel become the largest producer of palladium and nickel in the world.
The son of a janitor and a domestic help, Herman Cain used his talent in math to join Purdue University. He had worked with the Navy and been an analyst for Coca-Cola. He later headed Pillsbury as its VP. He had announced his presidential candidacy in 2012 but later withdrew.
Economist Janet Yellen has had an illustrious career as an academic and researcher, and has taught at Harvard University and other reputed institutes. After chairing the Federal Reserve for 4 years, she is now the United States Secretary of the Treasury. She is married to Nobel-winning economist George Akerlof.
Masayoshi Son is a Japanese technology entrepreneur, philanthropist, and investor. He is credited with founding SoftBank, a popular Japanese holding company, for which he also serves as the chief executive officer. One of the richest men in Japan, Son has pledged to donate $120 million to support the victims affected by the 2011 earthquake off the Pacific coast of Tōhoku.
Carl C. Icahn is an American businessman. He is credited with founding a diversified conglomerate holding company called Icahn Enterprises, which is based in New York City. He also serves as the chairman of the popular auto parts manufacturer and developer, Federal-Mogul. Also known for his charity work, Icahn joined the Giving Pledge list in 2010.
Democratic Party member and former governor of Virginia, Terry McAuliffe is a qualified lawyer. Born to a Democratic politician in New York, he began his first business at 14, maintaining driveways and parking lots in his area, and grew up to be a successful banker, real-estate developer, and venture capitalist.
German banker Hjalmar Schacht was appreciated for his role in saving the Weimar Republic from inflation and later served as the Reichsminister of Economics under Adolf Hitler. Following as assassination attempt on Hitler, her was imprisoned, but was later freed and then set up his own bank in Düsseldorf.
Best remembered for creating a new writing system that allows Mandarin to be written in Roman alphabets, Chinese economist Zhou Youguang started working on the project in 1955, reaching his goal after three years of labor. Known as Father of Pinyin, he has also authored forty books, most notable among them being The Historical Evolution of Chinese Languages and Scripts.
One of the most well-known white-collar criminals ever, Marc Rich, an NYU dropout, was a self-made business magnate and commodities trader who established Glencore but was later charged with fraud and tax evasion, among other crimes. He also donated generously for leukemia research and Jewish causes.
