Albert M. Greenfield American businessman Country: USA

Albert M. Greenfield: A Biography

Albert M. Greenfield, an American businessman, was involved in various industries including real estate, banking, retail, and hospitality. He was also a prominent figure in the transportation industry and became a respected public figure and philanthropist. Despite his business and political ambitions extending beyond his hometown of Philadelphia, he remained loyal to the city and its residents, believing that they were responsible for his success and therefore, he should contribute to making Philadelphia one of the most beautiful cities in the United States.

Albert Greenfield lived a long life, born in 1887 and passing away at the age of 80 in 1967. He embodied the American Dream as an entrepreneurial immigrant who started small and built a vast business empire. At the age of 18, Albert began his career as a real estate broker. With just $500 borrowed from his mother's brother, he opened his firm, 'Albert M. Greenfield & Co', in May 1905. As the business grew, Greenfield invested in movie theaters, construction companies, credit organizations, and mortgage financing.

By the early 1920s, Greenfield controlled 27 construction and credit associations. In 1924, together with his father-in-law, Sol C. Kraus, he founded the banking company 'Bankers Bond & Mortgage Company', becoming the leader in providing the first mortgage loans for property purchases in Philadelphia. After expanding the company's geographical reach and entering the New York market, it was renamed 'Bankers Bond & Mortgage Company of America'. From 1925 until its closure in December 1930, due to the stock market crash in 1929, Greenfield managed the 'Bankers Trust Company'.

In 1927, Greenfield established the securities corporation 'Bankers Securities Corporation' (or 'B.S.C.'), which offered a wide range of investment and banking services, as well as securities operations. He served as the Chairman of the Board until March 1959. Eventually, 'B.S.C.' became the parent company for all of Greenfield's financial interests, including 'City Stores Company'.

Greenfield's reputation as a high-performing entrepreneur increased the demand for his services. He was involved and interested in almost everything. In the 1940s, Greenfield served on the boards of 43 companies and organizations. The most significant ones included the 'Philadelphia Transportation Company', the Philadelphia Chamber of Commerce, Girard College, the National Conference of Christians and Jews, the Albert Einstein Medical Center, and the Federation of Jewish Charities.

Additionally, Greenfield generously supported educational institutions, including Lincoln University, Temple University, the University of Pennsylvania, and the Kennedy and Truman Presidential Libraries and Museums. He made substantial donations to scientific projects, and the Albert M. Greenfield Center for Human Relations was established at the University of Pennsylvania in his honor. Greenfield's philanthropic activities knew no racial or religious boundaries, and he became the first American Jew to be awarded the Order of Pius IX by the Pope for his public service.

Starting in 1917, Greenfield became involved in politics. From 1917 to 1920, he served on the Philadelphia City Council. Although initially a Republican, Greenfield became a loyal supporter of the Democratic Party and maintained this affiliation until his death. He had close relationships with several U.S. presidents, from Herbert Hoover to Lyndon Johnson. He participated in the Democratic National Conventions from 1948 to 1964. Thanks to his political connections, he often received appointments to various committees and commissions.