Max Moritz Warburg (5 June 1867 – 26 December 1946) was a

German German(s) may refer to: * Germany (of or related to) ** Germania (historical use) * Germans, citizens of Germany, people of German ancestry, or native speakers of the German language ** For citizens of Germany, see also German nationality law **Ge ...

banker and scion of the wealthy

Warburg family The Warburg family is a prominent German and American banking family of German Jewish and originally Venetian Jewish descent, noted for their varied accomplishments in biochemistry, botany, political activism, economics, investment banking, law, ...

based in

Hamburg (male), (female) en, Hamburger(s), Hamburgian(s) , timezone1 = Central (CET) , utc_offset1 = +1 , timezone1_DST = Central (CEST) , utc_offset1_DST = +2 , postal ...

Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...

Early life

Max Warburg was one of seven children born to Moritz Warburg, the director of the family's Hamburg bank, and his wife Charlotte Oppenheim of the

Oppenheim family The Oppenheim family is a German Jewish banking family which founded what was Europe's biggest private bank, Sal. Oppenheim. According to Manager Magazin 2008, the Oppenheim family was among the 30 richest families in Germany, with assets over 8 b ...

, another prominent German-Jewish banking family. His siblings were art historian and cultural theorist Abraham Warburg; chief architect of the

Federal Reserve Board The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the mon ...

of the United States

Paul Warburg Paul Moritz Warburg (August 10, 1868 – January 24, 1932) was a German-born American investment banker who served as the 2nd Vice Chair of the Federal Reserve from 1916 to 1918. Prior to his term as vice chairman, Warburg appointed as a member o ...

;

Felix Felix may refer to: * Felix (name), people and fictional characters with the name Places * Arabia Felix is the ancient Latin name of Yemen * Felix, Spain, a municipality of the province Almería, in the autonomous community of Andalusia, ...

, son-in-law to

Jacob Schiff Jacob (; ; ar, يَعْقُوب, Yaʿqūb; gr, Ἰακώβ, Iakṓb), later given the name Israel, is regarded as a patriarch of the Israelites and is an important figure in Abrahamic religions, such as Judaism, Christianity, and Islam. Ja ...

and partner at Kuhn, Loeb & Co.; Fritz; Olga; and Louisa.

Career

He apprenticed in

Frankfurt Frankfurt, officially Frankfurt am Main (; Hessian: , "Frank ford on the Main"), is the most populous city in the German state of Hesse. Its 791,000 inhabitants as of 2022 make it the fifth-most populous city in Germany. Located on its na ...

Amsterdam Amsterdam ( , , , lit. ''The Dam on the River Amstel'') is the Capital of the Netherlands, capital and Municipalities of the Netherlands, most populous city of the Netherlands, with The Hague being the seat of government. It has a population ...

Paris Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. S ...

, and

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

. From 1910 until 1938, he was director of M. M. Warburg & Co. in

Hamburg (male), (female) en, Hamburger(s), Hamburgian(s) , timezone1 = Central (CET) , utc_offset1 = +1 , timezone1_DST = Central (CEST) , utc_offset1_DST = +2 , postal ...

, Germany. As head of that firm, he advised

Kaiser Wilhelm II Wilhelm II (Friedrich Wilhelm Viktor Albert; 27 January 18594 June 1941) was the last German Emperor (german: Kaiser) and List of monarchs of Prussia, King of Prussia, reigning from 15 June 1888 until Abdication of Wilhelm II, his abdication on 9 ...

prior to

World War I World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fightin ...

. In the 1930s, despite the rise of the

Nazi Party The Nazi Party, officially the National Socialist German Workers' Party (german: Nationalsozialistische Deutsche Arbeiterpartei or NSDAP), was a far-right politics, far-right political party in Germany active between 1920 and 1945 that crea ...

, Warburg felt there was hope for the future in Germany and tried to wait out the Nazi crisis. From 1933, he served on the board of the German

Reichsbank The ''Reichsbank'' (; 'Bank of the Reich, Bank of the Realm') was the central bank of the German Reich from 1876 until 1945. History until 1933 The Reichsbank was founded on 1 January 1876, shortly after the establishment of the German Empi ...

under governor

Hjalmar Schacht Hjalmar Schacht (born Horace Greeley Hjalmar Schacht; 22 January 1877 – 3 June 1970, ) was a German economist, banker, centre-right politician, and co-founder in 1918 of the German Democratic Party. He served as the Currency Commissioner ...

. He sold the bank because the 1935

Nuremberg laws The Nuremberg Laws (german: link=no, Nürnberger Gesetze, ) were antisemitic and racist laws that were enacted in Nazi Germany on 15 September 1935, at a special meeting of the Reichstag convened during the annual Nuremberg Rally of th ...

set the framework and campaign of

Aryanization Aryanization (german: Arisierung) was the Nazi term for the seizure of property from Jews and its transfer to non-Jews, and the forced expulsion of Jews from economic life in Nazi Germany, Axis-aligned states, and their occupied territories. I ...

. He then emigrated to the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

in 1938.

Personal life

Max Warburg married Alice Magnus in 1899, and together they had four daughters (including Lola Helene Nina Hahn-Warburg, who instigated the ''

Kindertransport The ''Kindertransport'' (German for "children's transport") was an organised rescue effort of children (but not their parents) from Nazi-controlled territory that took place during the nine months prior to the outbreak of the Second World ...

'' initiative to the United Kingdom) and a son, Eric Warburg (1900–1990), who served during WW2 and was later involved with the OSS, along with founding E.M. Warburg & Co, later known as

Warburg Pincus Warburg Pincus LLC is a global private equity firm, headquartered in New York, with offices in the United States, Europe, Brazil, China, Southeast Asia and India. Warburg has been a private equity investor since 1966. The firm currently has over ...

. His company did deals on Wall Street with help of people like Alan Dulles, and he maintained a close relationship with John J. McCloy over the years.

References

External links

* 1867 births 1946 deaths American bankers German bankers Jewish bankers Jews from Hamburg Jewish emigrants from Nazi Germany to the United States Max {{Germany-business-bio-stub

Early life

Career

Personal life

See also

References

External links