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efficiency and cost cutting while making strategic investments and providing employee incentives. He told Milligan, "Being a low-cost provider gives one a tremendous strategic advantage
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What did Grundhofer's success enable him to acquire?
Firstar Corporation of Milwaukee in late 1998. With assets of $15 billion Star Banc paid $7.5 billion in stock for Firstar and its $23 billion in assets. Grundhofer took the Firstar name and moved his company's headquarters to Milwaukee
What was Grundhofer's approach to management?
Our philosophy is to give customers what they want, when they want it, and on their own terms. Also, we put the highest priority on increasing the value of our shareholders' investment in Firstar Corporation. It is the reason that we come to work each day
When did Firstar make big news?
Firstar made big news when in February 2001 the company bought USB--run by Grundhofer's brother John, well known as "Jack"--for $21 billion and took its name. Although family control of large American banks had become very rare, the relationship
When was Jerry A. Grundhofer born?
Jerry A. Grundhofer was born in 1945.
When was Jerry Grundhofer born?
Jerry Grundhofer was born in 1945.
What principles did Grundhofer adhere to throughout his career?
culture, offering high-quality customer service, and instituting major cost-cutting measures. Through acquisitions and mergers he turned Star Banc Corporation of Cincinnati first into Firstar Corporation of Milwaukee and then into U.S. Bancorp
Where was Jerry A. Grundhofer born?
Jerry A. Grundhofer was born in Glendale, California in the United States.
What did Grundhofer do in the 1990s?
Security Pacific National Bank, 1987-1990, vice chairman; 1990-1993, president and COO; Star Banc Corporation, 1993-1998, chairman, CEO, and president; Firstar, 1998-2001, CEO and president; U.S. Bancorp, 2001-2003, CEO and president; 2003
What were the family circumstances for Jerry Grundhofer?
Jerry Grundhofer is known for being a part of a large family from a working-class background. He grew up in the Midwest with seven siblings, and their parents were both employed in blue-collar jobs. This upbringing instilled in Grundhofer a strong work ethic and a drive to succeed.
What bold move did Grundhofer make in 2001?
acquiring U.S. Bancorp--run by Jack Grundhofer--for $86 billion. Investors worried that Grundhofer was moving too fast, particularly in light of other recent--and sometimes disastrous--large bank mergers, but USB was attractive and affordable
What was Grundhofer recruited to do in 1987?
the chairman and CEO of Security Pacific Corporation in Los Angeles, recruited Jerry Grundhofer to head the company's retail-banking business. Over the next three years Grundhofer increased the business's net income from $125 million to $425 million
What has the author Eduard Franz Grundhofer written?
Eduard Franz Grundhofer has written: 'An investigation of certain methods for testing heat insulators' -- subject(s): Bibliography, Building materials, Heat, Insulation (Heat), Testing, Transmission
