Bram Goldsmith
Bram Goldsmith | |
|---|---|
| Born | Template:Birth date Chicago, Illinois, U.S. |
| Died | February 28, 2016 (aged 93) |
| Occupation(s) | Real estate developer, banker, philanthropist |
| Known for | CEO and chairman of City National Bank |
Bram Goldsmith (February 22, 1923 – February 28, 2016) was a distinguished American figure in real estate development, banking, and philanthropy. He held the position of CEO at City National Bank from 1975 until 1995 and served as chairman from 1975 through 2013. His leadership earned him the nickname "banker to the stars." Goldsmith was also a well-known benefactor within the Beverly Hills, California community.
Early life
Goldsmith was born in Chicago, Illinois, in 1923 to parents Max and Bertha Goldsmith. He completed his studies at the University of Illinois, earning a degree in finance and business administration. After university, he dedicated three and a half years to service in the United States Army Air Corps, including a deployment of eighteen months in Burma.
Career
For a quarter-century, Goldsmith led Buckeye Realty and Management Corporation as president and CEO, alongside Buckeye Construction Company. During his tenure, these firms became California’s largest privately held real estate development enterprise, responsible for constructing more than thirty office buildings in Beverly Hills. City National Bank financed many of these projects.
Goldsmith joined City National Bank’s board in 1964 and subsequently took on the roles of CEO (1975–1995) and chairman (1975–2013). Under his guidance, the bank’s assets expanded significantly from $600 million to $3.3 billion. He continued as chairman emeritus until his passing. The bank became renowned for catering to high-profile clients such as Robert Redford, Paul Newman, and Cher, earning Goldsmith the moniker "banker to the stars." In 1984, he was recognized as the highest-paid banker in the United States with earnings of $3.1 million—surpassing the total compensation of CEOs at Bank of America, Citibank, and Chase Manhattan combined.
Additionally, Goldsmith contributed to the Federal Reserve Bank of San Francisco's Los Angeles Branch as a board member from 1981 to 1987 and served on the board of Wynn Resorts.
Philanthropy
In 1965, Goldsmith led the Los Angeles United Jewish Fund Campaign as its chairman and later presided over the Jewish Federation Council of Greater Los Angeles from 1969 to 1970. Between 1970 and 1974, he was national chairman of the United Jewish Appeal. His philanthropic involvement extended to leadership roles with the National Conference of Christians and Jews, where he served as Los Angeles Chairman and was a member of the national Board.
He held the presidency of the Hillcrest Country Club from 1972 through 1975 and was a trustee for both Cedars-Sinai Medical Center (1979–1999) and the Los Angeles Philharmonic (1977–2016). Goldsmith also chaired Region IV of the United Way and participated on its Central Board. As Founding Chairman of the Wallis Annenberg Center for the Performing Arts until 2013, he lent his name to its 500-seat Goldsmith Theater.
Personal life
Goldsmith was married to Elaine Maltz, daughter of Benjamin N. Maltz, who served as President of City National Bank. The couple resided primarily in Beverly Hills with an additional home in Newport Beach, California. Their youngest son, Russell Goldsmith, currently holds the positions of chairman and CEO at City National Bank, while their other son Bruce Goldsmith is an accomplished novelist, playwright, and screenwriter.
Death and legacy
Bram Goldsmith passed away on February 28, 2016, at the age of 93. To commemorate his significant contributions, the city of Beverly Hills dedicated a street named Bram Goldsmith Way on November 7, 2018.