Max Warburg

Max Warburg
Max Warburg in 1904
Born	(1867-06-05)June 5, 1867 Hamburg, Germany
Died	December 26, 1946(1946-12-26) (aged 79) New York City
Occupation	Banker
Spouse	Alice Magnus ​ (m. 1899)​
Children	Eric Warburg (1900–1990)

Max Moritz Warburg (5 June 1867 – 26 December 1946) was a German-born, American banker and scion of the wealthy Warburg family of German bankers.

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.

His siblings were the art historian and cultural theorist, Abraham Warburg; the chief architect of the Federal Reserve Board of the United States Paul Warburg; Felix; Olga; Fritz; and Louisa.

Career

He apprenticed in Frankfurt, Amsterdam, Paris, and London. From 1910 until 1938, he was director of M. M. Warburg & Co. in Hamburg, Germany. As head of that firm, he advised Kaiser Wilhelm II prior to World War I.

In the 1930s, despite the rise of the Nazi Party, Warburg felt there was hope for the future in Germany and tried to wait out the Nazi crisis. Beginning in 1933 he served on the board of the German Reichsbank under governor Hjalmar Schacht. He sold the bank because the 1935 Nuremberg laws set the framework and campaign of “Aryanization”. He then emigrated to the United States in 1938.

Personal life

Max Warburg married Alice Magnus in 1899, and together they had four daughters and a son, Eric Warburg (1900–1990), founder of E.M. Warburg & Co, later known as Warburg Pincus.

See also

• Warburg family

References

• Berghoff, Hartmut; Köhler, Ingo (2007). "Redesigning a Class of Its Own: Social and Human Capital Formation in the German Banking Elite, 1870–1990". Financial History Review. 14 (1): 63–87. doi:10.1017/S0968565007000364.