Early Life and Education
Leonard Abess was born in 1948. His father, Leonard Abess Sr., co-founded City National Bank of Florida in 1946. Leonard Abess Jr. graduated from The Wharton School of the University of Pennsylvania.
Rise to Success
Abess began his career at City National Bank, working his way up from the print shop. He became the majority owner and chairman of the bank in 1984. Under his leadership, City National Bank grew significantly, with assets increasing from $400 million to $2.75 billion by 2008. He sold his 83% share of the bank in 2008 to Caja Madrid banking group for $927 million.
Key Business Strategies
Abess is known for his conservative approach to banking. His strategy helped the bank to thrive. After selling City National Bank, he invested in other ventures, including real estate and the pinball machine company, Jersey Jack Pinball.
Philanthropy
Abess is a devoted philanthropist. He donated $5 million to establish the Abess Center for Ecosystem Science and Policy at the University of Miami. He and his wife also founded a floating research station in the Brazilian Amazon and the Abess Center for Environmental Studies at Miami Country Day School. In 2008, after selling City National Bank, he distributed $60 million to current and former bank employees.
