Peder Sather
Peder Sather was a Norwegian-born American banker who is best known for his legacy to the University of California, Berkeley. His widow, Jane K. Sather, donated money in his memory for two of the school's most famous landmarks. Sather Gate and Sather Tower, which is more commonly known as The Campanile, are both California Historical Landmarks which are registered National Register of Historic Places.
Biography
Peder Pedersen Sæther was born in Odalen, a traditional district in the county of Hedmark in eastern Norway, on the farm Nordstun Nedre Sæther. His parents were Peder Larsen and Mari Kristoffersdatter. Sæther was a fisherman before emigrating to New York City in about 1832. He entered the banking house of Drexel & Co. in Philadelphia and remained there until 1850.Philadelphia banker Francis Martin Drexel offered to assist Peder Sather and his business partner Edward W. Church in establishing a bank in San Francisco. In 1850, Sather and Church moved to San Francisco and established the banking firm of Drexel, Sather & Church. From 1863, Peder Sather became the sole owner of the bank. He went on to become one of California’s richest men. Upon his death, the Sather and Church banking firm was absorbed by the Bank of California. Peder Sather was a trustee of the College of California, which would later become the University of California, Berkeley.
Peder Sather married a second time, in 1882, the widow Jane Krom Read. Four years later, after her husband's death she donated money for the construction of Sather Gate and Sather Tower at UC Berkeley, both of which are named in his honor. She also created an endowment for the Sather Professorship of Classical Literature at the University. Sather's banking firm continued until being acquired by the Bank of California in 1910.