City National Bank CEO Leonard Abess Jr. Hands Out $60 Million of His Money
City National Bank CEO Leonard Abess Jr recently handed out $60 million in bonuses from his own pocket. He did not leave anyone out as he gave bonuses to all 471 employees including tellers, clerks and secretaries. Each employee averaged receiving $127,000 in bonuses.
Abess was singled out by President Obama for his generously, especially in a time when most bankers are in the news for corporate scandals. Abess attended the presidential address on Tuesday night. Abess has not returned calls on the bonuses because he did not intend to make it a big deal.
Under the ownership of Leonard Abess Jr, City National Bank grew from $400 million in assets to $2.75 billion in assets. While most banks are in the news for giving bonuses to upper level management employees after losing money, Abess proves to be different. He includes everyone in the business in the bonus and he continues to produce a profit at City National Bank. When Abess decided to sell a majority stake in the company, Abess shared the profits with his employees and retirees.
Mr. Leonard Abess, thank you for all you have done in this current economic time. You shine bright when most bankers are marred in corporate scandal.
Comments
One Comment on City National Bank CEO Leonard Abess Jr. Hands Out $60 Million of His Money
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LaLa on
Mon, 2nd Mar 2009 7:27 am
Leonard Abess,you are a gift from God I always thought this only happens in the movies, where are all the Ceo’s like you , you never forgot where you came from you are not greedy you are caring, I pray more high power men will follow your heart.and do the same.wish i could shake your hand.
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