Background
Sax, George David was born on April 14, 1904 in Peoria, Illinois, United States. Son of Louis and Nellie (Abromowitz) Sax.
Sax, George David was born on April 14, 1904 in Peoria, Illinois, United States. Son of Louis and Nellie (Abromowitz) Sax.
He graduated from Brown"s Business College (now Midstate College) in Peoria.
He was president of Sax Enterprises, Incorporated and was a business entrepreneur who owned the Saxony Hotel, the first luxury hotel to be built in Miami Beach. In 1944, Sax took over Halsted Exchange National Bank after purchasing a controlling share. He renamed the bank The Exchange National Bank of Chicago and moved it to downtown Chicago.
Sax is credited with the innovation of several banking practices that have since been adopted worldwide - drive-through banking and instant loans.
Later in his banking career, Sax devised such practices as open cr accounts. The Exchange National Bank had 10 teller windows and was the first in the Loop to feature show windows.
The Sax family maintained control of Exchange for over thirty years. After World World War II, Sax was involved in another business venture - the building of the Saxony Hotel.
The Saxony was the very first luxury hotel built in Miami Beach and was the first hotel to have central air-conditioning.
Among the most lavish resorts in the country, the Saxony was frequently used by heads of state and featured rooms with glorious views, air conditioning, and complementary meals.
Member American Institute Banking, American, Indiana bankers associations Committee Economics Development, Navy League United States, Phi Epsilon Pi. Jewish Reform religion. Mason (Shriner).; Club: Covenant (Chicago.
Married Rhoda Bronstein, September 12, 1932. Children: Samuel William, Edward Lee, George Jay.