Sir Siegmund George Warburg (30 September 1902 – 18 October 1982) was a German-born English banker. He was a member of the prominent Warburg family. He played a prominent role in the development of merchant banking.[1]
Siegmund George Warburg
Autochrome of Sir Siegmund Warburg with his wife Eva Maria Warburg, by Georges Chevalier, 1926.
He was born in the village of Seeburg, Germany (today part of Bad Urach), the only child of Georges Siegmund Warburg and his wife, Lucie, who raised young Siegmund on an estate (Uhenfels Castle) in Swabia in South West Germany far away from the main branch of the family, which operated the second largest bank in Hamburg. Siegmund had a sincere and deep affection for his mother who taught him to have a critical and inquisitive mind.[2]
In the UK, Siegmund was considered an 'upstart' to the establishment in the City of London. His most famous achievement was the establishment of the EuroBond market. He firmly believed that financial integration of Europe was an essential and natural step in the development of the European economy. He was a firm supporter of European Integration and involved in organizations dedicated to this goal, like the Action Committee for the United States of Europe, the United Kingdom Council of the European Movement, the European Foundation or the Bilderberg group (Warburg 2010: pp. xx, 460).
The firm that he created with Grunfeld, S.G. Warburg & Co., was a major Britishinvestment bank (merchant bank at the time), and Siegmund was the bank's managing director until the 1970s — when although he officially had retired and was living in Switzerland, still retained a personal secretary to draft correspondence and assist with the operations of the firm. Control of the firm S.G. Warburg and Co. was retained through a family controlled holding company called 'Mercury Securities', where stock was allocated to S.G. Warburg & Co. partners as well as his Swedish wife and children.[2]
The firm S.G. Warburg & Co. was acquired by Swiss Bank Corporation creating SBC Warburg in 1995. After the merger of SBC with UBS AG, the investment bank was rebranded UBS. He was also simultaneously a partner in the U.S. investment bank Kuhn, Loeb from 1953 until 1964 through a holding company[2] to avoid the restrictions of the Glass–Steagall Act.
Personal lifeedit
Warburg was knighted in 1966. He died in London in 1982, survived by his wife Eva Maria (née Philipson), a son, a daughter and four grandchildren.[3]
Referencesedit
^"The mysteries of Siegmund Warburg" by David Marsh, MarketWatch
^ abcdChernow, Ron (1993). The Warburgs: The Twentieth Century Odyssey of a Remarkable Jewish Family. New York: Random House. ISBN978-0525431831.
^"Sir Sigmund Warburg 80, Dies; Led Transition in London Banking". New York Times. 20 October 1982.
Serger, Bernd / Böttcher, Karin-Anne, Es gab Juden in Reutlingen. Ein historisches Lesebuch, pages 108-123, Reutlingen/Germany, Stadtarchiv Reutlingen 2005, ISBN3-933820-67-7
siegmund, george, warburg, september, 1902, october, 1982, german, born, english, banker, member, prominent, warburg, family, played, prominent, role, development, merchant, banking, autochrome, siegmund, warburg, with, wife, maria, warburg, georges, chevalier. Sir Siegmund George Warburg 30 September 1902 18 October 1982 was a German born English banker He was a member of the prominent Warburg family He played a prominent role in the development of merchant banking 1 Siegmund George WarburgAutochrome of Sir Siegmund Warburg with his wife Eva Maria Warburg by Georges Chevalier 1926 Born 1902 09 30 30 September 1902Seeburg GermanyDied18 October 1982 1982 10 18 aged 80 London United KingdomOccupationBanker Contents 1 Career 2 Personal life 3 References 4 Further reading 5 External linksCareer editThis section needs additional citations for verification Please help improve this article by adding citations to reliable sources in this section Unsourced material may be challenged and removed Find sources Siegmund George Warburg news newspapers books scholar JSTOR November 2022 Learn how and when to remove this template message He was born in the village of Seeburg Germany today part of Bad Urach the only child of Georges Siegmund Warburg and his wife Lucie who raised young Siegmund on an estate Uhenfels Castle in Swabia in South West Germany far away from the main branch of the family which operated the second largest bank in Hamburg Siegmund had a sincere and deep affection for his mother who taught him to have a critical and inquisitive mind 2 In the period immediately before the Second World War he worked under cover for the Z Organisation citation needed a highly secret offshoot of MI6 SIS and reported from Switzerland on his regular meetings with Hjalmar Schacht then the president of the Nazi German Reichsbank and thus the most powerful German banker He was forced to flee the National Socialist regime of Adolf Hitler and moved to the United Kingdom in 1934 where he co founded S G Warburg amp Co in 1946 with Henry Grunfeld 2 In the UK Siegmund was considered an upstart to the establishment in the City of London His most famous achievement was the establishment of the EuroBond market He firmly believed that financial integration of Europe was an essential and natural step in the development of the European economy He was a firm supporter of European Integration and involved in organizations dedicated to this goal like the Action Committee for the United States of Europe the United Kingdom Council of the European Movement the European Foundation or the Bilderberg group Warburg 2010 pp xx 460 The firm that he created with Grunfeld S G Warburg amp Co was a major British investment bank merchant bank at the time and Siegmund was the bank s managing director until the 1970s when although he officially had retired and was living in Switzerland still retained a personal secretary to draft correspondence and assist with the operations of the firm Control of the firm S G Warburg and Co was retained through a family controlled holding company called Mercury Securities where stock was allocated to S G Warburg amp Co partners as well as his Swedish wife and children 2 The firm S G Warburg amp Co was acquired by Swiss Bank Corporation creating SBC Warburg in 1995 After the merger of SBC with UBS AG the investment bank was rebranded UBS He was also simultaneously a partner in the U S investment bank Kuhn Loeb from 1953 until 1964 through a holding company 2 to avoid the restrictions of the Glass Steagall Act Personal life editWarburg was knighted in 1966 He died in London in 1982 survived by his wife Eva Maria nee Philipson a son a daughter and four grandchildren 3 References edit The mysteries of Siegmund Warburg by David Marsh MarketWatch a b c d Chernow Ron 1993 The Warburgs The Twentieth Century Odyssey of a Remarkable Jewish Family New York Random House ISBN 978 0525431831 Sir Sigmund Warburg 80 Dies Led Transition in London Banking New York Times 20 October 1982 Further reading editChernow Ron 1993 The Warburgs The Twentieth century Odyssey of a Remarkable Jewish Family New York Random House ISBN 0 679 41823 7 Attali Jacques 1985 A Man of Influence The Extraordinary Career of S G Warburg Bethesda MD Adler amp Adler ISBN 0 917561 36 8 Farrer David 1974 The Warburgs The Story of a Family New York Stein and Day ISBN 0 8128 1733 8 Serger Bernd Bottcher Karin Anne Es gab Juden in Reutlingen Ein historisches Lesebuch pages 108 123 Reutlingen Germany Stadtarchiv Reutlingen 2005 ISBN 3 933820 67 7 Niall Ferguson 2010 High Financier The Lives and Time of Siegmund Warburg New York Penguin ISBN 978 1 59420 246 9 The Merchant Bankers by Joseph Wechsberg published in year 1966 by Pocket Books New York LCCN 66 16558 ISBN 978 0486781181External links editWarburg A Man of Influence 1992 TV mini series at IMDb nbsp Guide to the Correspondence of Stefan Zweig and Siegmund Georg Warburg at the Leo Baeck Institute New York Retrieved from https en wikipedia org w index php title Siegmund George Warburg amp oldid 1191475903, wikipedia, wiki, book, books, library,
