Moritz M. Warburg (at the back of the window), son of Sara and Aby, and partner in the bank since 1862, with family (1884)
Photo: Warburg Institute London"Do not part", it says in 1801 in the will of the pawnbroker Gumprich Marcus Warburg. "Only through unity will you be strong and your business will prosper." He was referring to his eldest sons, Moses Marcus, 38, and Gerson, 36, who were passionately at odds with each other. Gumprich had bequeathed his business to them three years earlier and they had turned it into the MM Warburg & Co. bank, but by no means put an end to their eternal competition. At the end of his life, Gumprich looked with concern at the modest prosperity that he had achieved under difficult conditions and that might now dissolve in the dispute between the unequal brothers.
SPIEGEL STORY 4/2020 Right arrow
Dynasties of the German economy: their rise, their wealth, their scandals
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SPIEGEL HISTORY by subscription arrow to the rightThe two didn’t care about the father’s appeal and their arguments continued for decades. Your company still thrived, over the course of time it became an important pillar in Hamburg's economic structure, rose to become a global player in the 19th century, survived two wars and the "Aryanization" by the National Socialists - and is now the largest owner-managed private bank in Germany.
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