Marion Sandler
| Marion Osher Sandler | |
|---|---|
| Born | October 17, 1930 |
| Died | June 1, 2012 (aged 81) |
| Nationality | United States |
| Education | B.A. Wellesley College M.B.A. New York University |
| Occupation | Businesswoman |
| Known for | co-founder of Golden West Financial Corporation |
| Spouse(s) | Herbert Sandler |
| Children | Susan Sandler James Sandler |
| Parent(s) | Samuel and Leah Osher |
| Family | Bernard Osher (brother) |
Marion Osher Sandler (October 17, 1930 – June 1, 2012) was the former co-CEO (with her husband Herbert Sandler) of Golden West Financial Corporation and World Savings Bank. In 2004, after 43 years running Golden West Financial Corporation, she was described by the Columbia School of Journalism as “the first and longest-serving woman chief executive officer in the United States.”
Born Marion Osher in Biddeford, Maine on October 17, 1930 to Samuel and Leah Osher,Jewish immigrants from Lithuania and Russia. Her parents owned a hardware store and were successful in real estate. Her brother is Bernard Osher. She earned a bachelor's degree from Wellesley College in 1952 and an MBA from New York University in 1958. She worked for two years as a buyer at Bloomingdale's before landing a job on Wall Street, as a securities analyst at Dominick & Dominick. She was the first woman hired by the firm who was not a receptionist.
In 1963, with $3.8 million in funding from her brother, Bernard, who was a successful businessman, she and her husband created a holding company, Golden West Financial Corporation, and acquired Golden West Savings and Loan Association (renamed the World Savings Bank) in California. At the time it was a small institution with one branch. The Sandlers tried new products, and Golden West became the first institution to offer adjustable rate mortgages. Golden West grew into one of the largest thrifts in the U.S. with assets of approximately $125 billion, deposits of $60 billion, and 12,000 employees. Under the Sandlers' management, Golden West generated a 19 percent average annual compound growth in earnings per share over a 39-year period. The company was described as "one of the most efficient and productive money machines on the planet", and was included 10 times in Fortune magazine's annual list of the United States' most admired companies. The Sandlers were also named "2004 CEOs of the Year" by Morningstar, Inc.
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