Louis Galen

Who was Louis Galen?

Louis "Lou" J. Galen was an American philanthropist. Before he retired he was a successful banker and CEO of Golden West Financial Corporation.

Galen moved to Los Angeles at age 6 with his mother, Faye Roberts, from Youngstown, Ohio, after his father died. He grew up in West Los Angeles, graduating from Fairfax High School. During World War II, he served as a bombardier in the Army Air Forces, flying missions in Europe.

After the war, Galen used $12,000 in military pay to help found Lynwood Savings and Loan in 1946 with his mother, Faye Roberts, and various family members. At the same time he attended the University of Southern California Law School on the GI Bill, graduating with an LL.B. in 1951. He practiced law briefly, before focusing on a career in business, initially getting involved in homebuilding as well as the savings and loan industry. In 1959 his mother and Louis formed Trans World Financial Corporation as a holding company for World Savings, and he and his mother took Trans World public. By 1960, while his mother remained chairman of the board, he became president of Lynwood Savings and Loan, changing its name to World Savings.