Ernest Rady: the professional activity of a financier
Ernest Rady is an American financier, chairman of Westcorp Holdings and founder of the insurance company American Assets. As of March 2023, he had a net worth of around US$43 million.
Ernest was born in Canada in 1938. He was educated at the University of Manitoba. Rady has several degrees in law and commerce.
In 1966, Ernest and his family moved to the United States, where, a year later, he established an insurance company American Assets. Over time the firm grew into a large business that included various lines of business, including real estate and investments. Despite his advanced age, the financier still chairs the board of directors of American Assets. In 1971 Rady opened Westcorp, a financial holding company, where he was chief executive until 2006. The business structure includes a banking division, financial services and investments. The company operates through a network of more than 450 brokers and 2,400 independent firms that provide services throughout the US.Ernest was head of WFS Financial, whose core business is insurance and financing of the automotive sector. In addition, the businessman served as chairman of a division of Wachovia Corporation. In all, Rady has over 50 years of professional experience. The companies he has built successfully operate in the American market and are trusted by many clients. He worked in various companies, including Silpit Industries, Canadian Sportswear, and Memrad Holdings. Before moving to the US, Ernest established himself in financial circles in Canada but decided to try his forces in the new country. He managed to set up a business that has been operating for over 50 years and withstood all difficulties with dignity.
Peers and competitors praise Ernest’s own success, and his advice is listened to by business people from all walks of life.
In addition to his financial activities, Rady is also involved in developing educational programmes. The millionaire is a member of the board of deans at the School of Management in California and is a trustee of an institute specializing in the biological sciences. He is active in philanthropy, funding projects in the education sector and supporting young scientists and their research.
Ernest owns 10,000 American Assets shares, valued at over US$39 million. He continues to be involved in investment activities, making trades on the stock exchange, but primarily for personal purposes. Rady also advises financiers and speaks at conferences as a guest speaker.