Lionello Perera

Lionello Arturo Lopes Perera
Born	Venice, Italy
Died	April 26, 1942(1942-04-26) (aged 70)
Occupation(s)	Banker, philanthropist, arts benefactor
Known for	Founding Bank of America (with Amadeo Peter Giannini), philanthropy for Italian immigrants, patronage of arts and music

Lionello Arturo Lopes Perera (also known as Leone Arturo Perera Lopez; June 25, 1871 – April 26, 1942) was a prominent banker, philanthropist, and arts benefactor who operated in New York during the early twentieth century.

Originating from Venice, Italy, Perera pursued studies in commerce before relocating to the United States upon invitation from his uncle, Salvatore Cantoni, a banker. In New York, he played a key role in founding Bank of America alongside Amadeo Peter Giannini and was instrumental in creating numerous charitable organizations that supported Italian immigrants along the East Coast. An ardent patron of the arts, he provided financial backing to notable figures such as Arturo Toscanini and Gian Carlo Menotti. Additionally, Perera utilized his standing within the Italian American community to aid Fiorello La Guardia in his successful bid for New York City mayor.

Early life (1871-1894)

Born on June 25, 1871, in Venice, Lionello Perera was the son of Emilia Cantoni and Cesare Lopes Perera, descending from Sephardic and Ashkenazi Jewish roots. He was the sole male child among six siblings. Following the loss of their parents during his youth, Perera and his sisters were raised by their maternal grandfather, Leon Vita Cantoni, a distinguished commercial agent in Venice. From 1886 to 1889, he attended the Regia Scuola Superiore di Commercio (currently Ca' Foscari University of Venice) where he studied commerce prior to entering the banking industry.

Banca Cantoni: Salvatore Cantoni & Co. (1865-1896)

After completing his education, Lionello Perera emigrated to New York, arriving at Ellis Island on April 19, 1894. His uncle Salvatore Cantoni, a banker, invited him to join Salvatore Cantoni & Co., recognized as the first Italian bank established in North America and uniquely granted access to the Wall Street stock market. Perera’s commercial acumen and multilingual abilities quickly rendered him indispensable to the institution and earned him considerable trust within the Italian immigrant population.

Banca Perera: Lionello Perera & Co. (1896-1926)

Upon Salvatore Cantoni’s passing, Perera acquired controlling interest in 1896 alongside Jewish American partners and rebranded the company as Lionello Perera & Co. While continuing its primary focus on currency exchange services, he expanded its operations to include savings accounts, loans, safe deposit boxes, and long-term investment products. Over thirty years, under his leadership, the bank evolved into New York’s largest savings institution amid increasing Italian immigration from the Kingdom of Italy. Relying on his expertise and community rapport, Perera adeptly steered the bank through numerous financial downturns during an era marked by minimal regulatory oversight and recurrent bank run incidents. He also made substantial investments and donations to support the Kingdom of Italy throughout and following World War I.

Bank of America (1926-1932)

In the 1920s, Lionello Perera's bank faced a significant bank run on February 21, 1924, when depositors hurried to withdraw funds due to insolvency concerns. Demonstrating strong crisis management skills, Perera honored withdrawal demands and restored confidence among Italian American customers. This episode, combined with wider challenges in the U.S. financial sector, motivated him to pursue consolidation strategies for greater stability. He allied with Italian American financier Amadeo Peter Giannini and Giannini’s brother Attilio—who were expanding their banking operations from California into New York. On August 31, 1926, Perera transformed his enterprise into the Commercial Exchange Bank of New York to facilitate Giannini’s acquisition of shares and entry into Wall Street. The following year they jointly purchased Sessa Bank of Brooklyn, then New York’s second-largest Italian American bank. By April 1928, they had founded the Bank of America National Association, marking it as America’s first nationwide bank with Perera serving as vice president. This association was dissolved in 1932; Perera’s shares were acquired by what would become today’s Citibank, while Giannini later reclaimed his holdings and revitalized what is now known as Bank of America.

Art Collector

Lionello Perera was a prominent art enthusiast in the United States, with a particular interest in eighteenth-century genre artworks and nineteenth-century European Naturalism. His collection included pieces by renowned Italian painters such as Pietro Longhi, Lorenzo Lotto, Arturo Noci, and Cosimo Rosselli. In addition, Perera produced caricatures depicting influential personalities from American social circles, politics, and the arts, including figures like Fiorello La Guardia, Enrico Caruso, and Arturo Toscanini. A significant number of these sketches remain preserved either within the Perera family archives or at the Library of Congress, highlighting his close ties to cultural elites.

Music Patron

In 1904, Perera wed Carolyn Allen, with whom he had five children. Their mutual enthusiasm for classical music and Italian opera not only fostered a shared cultural passion but also served as a unifying force for Italian Americans, helping to challenge racial biases. Throughout the 1930s, the couple frequently hosted intimate recitals and chamber music performances in their Manhattan residence, attracting esteemed artists such as Giovanni Martinelli, Arturo Toscanini, Ildebrando Pizzetti, and Yehudi Menuhin. Their Art Deco-style home, crafted by architect Harry Allan Jacobs in 1929, stood out as a distinguished single-family dwelling in Manhattan. Furthermore, the Pereras were benefactors of Milan’s Casa Verdi, a retirement facility for professional musicians established by composer Giuseppe Verdi.

Perera was deeply involved in providing assistance to Italian immigrants and those affected by war. His philanthropic journey began in 1905 when he represented the Italian Red Cross in the United States, coordinating relief efforts following an earthquake in southern Italy. Serving as the Italian Delegate for the American Red Cross, he played a key role in organizing healthcare support for Italian immigrants through the Italian Welfare League. His contributions were recognized with honors such as Cavaliere della Repubblica (1909) and Ufficiale bestowed by the King of Italy (1911). During World War I, he spearheaded the Italian Division of the Liberty Loan campaign. In 1934, New York Mayor Fiorello La Guardia appointed him to serve on the Child Welfare Board.

Private Life and Later Years

Perera obtained U.S. citizenship in July 1920 while retaining his Italian nationality, embodying a dual identity as both Italian and American. The interwar years presented difficulties amid strained relations between Fascist Italy and the Italian American community, coupled with uncertain U.S. policies toward Mussolini’s regime. He was instrumental in establishing Casa Italiana at Columbia University—the first North American institution dedicated to research on Italian culture—and actively encouraged Italian immigrants to back La Guardia’s opposition to Fascism. Tragically, two of his sisters endured persecution under Fascist rule; Olga Perera Pincherle perished along with her two children at Auschwitz.

On April 26, 1942, Lionello Perera passed away from a stroke while returning from Washington at Pennsylvania Station.

External links

• Rai Radio3 > Wikiradio: La Banca Perera (February 24, 2017)
• Rai Radio3 > Il Teatro di Radio3: Toscanini e l’amico di New York (January 15, 2017)
• Teatro La Fenice, Venice > Ammmericanaria: La favola del veneziano che andò a New York e fondò Citibank (May 19, 2015)
• Perera Papers