A Classification of American Wealth
History and genealogy of the wealthy families of America - Sponsors

 Part 1 : Colonial and Mercantile America  Part 2 : America in the Gilded Age
 Part 3 : America in the Twentieth Century  Encyclopedia of American Wealth

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  Part II-Chapter 10 : Bankers of the Gilded Age  >  Kuhn, Loeb & Co  :               Previous   1 - 2 - 3 - 4 - 5 - 6 - 7
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  The fourth generation and the decline of Kuhn, Loeb & Company

Page entitled : Kuhn-Loeb fourth generation and decline

Content of this page is about :
How Paul Warburg stayed outside Kuhn-Loeb and organized the International Acceptance Bank, while the fourth generation of Kahns, Schiffs and Warburgs took over

Extract :
Paul Warburg did not rejoin Kuhn, Loeb & Company after his resignation from the Federal Reserve Board and the firm started to admit non-family members as partners. Jerome J. Hanauer became the first employee to be offered a partnership. In 1929 three more non-family members were made partners : George W. Bovenizer, who like Hanauer had joined the firm as an office boy, Lewis L. Strauss, Hanauer's son-in-law and 'Sir' William Wiseman, a former head of the British Intelligence in the Western Hemisphere and good friend of Otto Kahn. In 1931, the old generation of Kuhn-Loeb dynasty members was replaced by the admittance of their sons : John Mortimer Schiff, Frederic Marcus Warburg and Gilbert Wolff Kahn.    ...


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