Paul Baerwald (September 27, 1871 – July 2, 1961) was a German-born Jewish-American banker and philanthropist.

Early life and family

Baerwald was born on September 27, 1871 in

Frankfurt-on-Main Frankfurt, officially Frankfurt am Main (; Hessian dialects, Hessian: , "Franks, Frank ford (crossing), ford on the Main (river), Main"), is the most populous city in the States of Germany, German state of Hesse. Its 791,000 inhabitants as o ...

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 ...

, the son of Dr. Herman Baerwald and Selma Frenkel.

Career

Baerwald began working in the banking business with Lazard-Speyer-Ellissen in Frankfurt from 1886 to 1891. He then worked for Speyer Brothers in

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 1891 to 1896. From 1896 to 1906, he worked with Speyer and Company in

New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...

. He then worked as a partner in

Lazard Frères Lazard Ltd (formerly known as Lazard Frères & Co.) is a financial advisory and asset management firm that engages in investment banking, asset management and other financial services, primarily with institutional clients. It is the world's ...

until 1930, when he retired from banking to focus on entirely on philanthropic and communal endeavors. He was also chairman of the executive committee of Fidelity-Phoenix Fire Insurance Co., executive committee member of the Fire Building Corporation, director of the General American Investors Corporation, advisory committee member of the

Texas Pacific Land Trust The Texas Pacific Land Corporation is a publicly traded real estate operating company with its administrative office in Dallas, Texas. Owning well over in 20 West Texas counties, TPL is among the largest private landowners in the state of Texa ...

Charitable work and affiliations

Baerwald's involvement in Jewish communal work began in 1917, when his close friend

Felix M. Warburg Felix Moritz Warburg (January 14, 1871October 20, 1937) was a German-born American banker. He was a member of the Warburg banking family of Hamburg, Germany. Early life Warburg was born in Hamburg, Germany, on January 14, 1871. He was a grandso ...

asked him to become associate treasurer of the

American Jewish Joint Distribution Committee American Jewish Joint Distribution Committee, also known as Joint or JDC, is a Jewish relief organization based in New York City. Since 1914 the organisation has supported Jewish people living in Israel and throughout the world. The organization i ...

(JDC). He became treasurer of the JDC in 1920, and in 1932 he became its chairman. In 1938, he joined President Roosevelt's Advisory Committee on Political Refugees, which tried to find ways to aid Nazi victims. He supervised the JDC's rescue work during

World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...

, risking its credit by sending money to Europe that had to be borrowed from New York banks. A high percentage of the

War Refugee Board The War Refugee Board, established by President Franklin D. Roosevelt in January 1944, was a U.S. executive agency to aid civilian victims of the Axis powers. The Board was, in the words of historian Rebecca Erbelding, "the only time in American h ...

funds from 1944 to 1945 came from the JDC under Baerwald's direction. His financial policy continued during the post-war years, when the JDC aided over half a million refugees to reach Israel. Baerwald became honorary chairman of the JDC in 1945. In 1949, the JDC opened the Paul Baerward School, a social work named after him, in

Versailles, France Versailles () is a commune in the department of the Yvelines, Île-de-France, renowned worldwide for the Château de Versailles and the gardens of Versailles, designated UNESCO World Heritage Sites. Located in the western suburbs of the Fren ...

. The school was transferred to Israel in 1958. He was a trustee and treasurer of the

New York Foundation The New York Foundation is a charitable foundation which gives grants to non-profit organizations supporting community organizing and advocacy in New York City. History 1909–1919 The New York Foundation was established in 1909 when Louis ...

, a voting trustee of the Palestine Economic Corporation, treasurer of the Wollman Foundation, and trustee and treasurer of the Solomon and Betty Loeb Convalescent Home. He served the

United Jewish Appeal The United Jewish Appeal (UJA) was a Jewish philanthropic umbrella organization that existed from its creation in 1939 until it was folded into the United Jewish Communities, which was formed from the 1999 merger of United Jewish Appeal (UJA), Cou ...

as a member of the national campaign executive committee, director and vice-chairman of the Appeal in New York, and as honorary chairman of its 1946 campaign. He was also treasurer of the American Society for Jewish Farm Settlements in Russia and the American Jewish Joint Agricultural Corporation. Baerwald was a member of the

Harmonie Club The Harmonie Club is a private social club in New York City. Founded in 1852, the club is the second oldest social club in New York. It is located at 4 East 60th Street, in a building designed by Stanford White. History Originally named the ...

Personal life and death

In 1909, he married Edith Jacobi. Their children were Pauline Frances, Herman Frederick, Jane, and Florence. Baerwald died in Monmouth Memorial Hospital in

Long Branch, New Jersey Long Branch is a beachside City (New Jersey), city in Monmouth County, New Jersey, Monmouth County, in the U.S. state of New Jersey. As of the 2010 United States census, 2010 U.S. census, the city's population was 30,719,< ...

following a short illness on July 2, 1961. At the time, he was in his summer home in Elberon. 500 people attended his funeral. He was buried in Mount Pleasant Cemetery in

Westchester County Westchester County is located in the U.S. state of New York. It is the seventh most populous county in the State of New York and the most populous north of New York City. According to the 2020 United States Census, the county had a population o ...

References

External links

Paul Baerwald Papers
at the ''

Columbia University Libraries Columbia University Libraries is the library system of Columbia University and one of the largest academic library systems in North America. With 15.0 million volumes and over 160,000 journals and serials, as well as extensive electronic resources ...

Archival Collection'' {{DEFAULTSORT:Baerwald, Paul 1871 births 1961 deaths People from Frankfurt 19th-century German Jews American people of German-Jewish descent German bankers Bankers from London Jewish American bankers Philanthropists from New York (state) 20th-century American philanthropists Jewish American philanthropists People from Long Branch, New Jersey Burials in New York (state)