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Steinberg, Saul Phillip

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Steinberg, Saul Phillip (1939- )

US financial executive. he engineered one of the first modern corporate raids at age 28, when, borrowing heavily, he took over Reliance Insurance Co. of Philadelphia. He built Reliance Group Holdings, a financial services firm, on the base of the insurance company. In 1969, he failed in a spectacular attempt to take over the giant Chemical Bank in New York City.

He was born in New York City. He was a 1959 graduate of the Wharton School at the University of Pennsylvania.
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