Jacob Schiff fell in love with the boss's daughter; he would eventually run his father-in-law's firm and become one of the leading figures in the American banking world.
by David B. Green • May 06, 2013
May 6, 1875, is the day Jacob Schiff, a 28-year-old investment banker at Kuhn, Loeb & Co., married the boss’ daughter, Therese Loeb, in Manhattan. The couple knew each other well, having met numerous times at Sunday dinners at the home of Therese's parents, Solomon and Betty Loeb. Their union was said to be based on love. That being said, it also resulted in Jacob's soon becoming a full partner in his father-in-law's firm, whose management he took over a decade later.
The groom had been born on January 10, 1847, in Frankfurt am Main, Germany, into a prominent family that traced its presence in the city back 500 years. (Actually, Jacob Schiff could trace his lineage back to no less than King Solomon.) Many of his ancestors were rabbis, but his father was a financial broker for the Rothschilds. Wanting to make a name for himself independent of his father, and seeing post-Civil War America as a land of unbound opportunity, Jacob sailed to New York, arriving in August 1865.
Although Schiff became a U.S. citizen in 1870, three years later he returned to Germany, after being offered a position at the Hamburg bank M. Warburg. Shortly after that, Jacob's father died, and Jacob returned to Frankfurt to be with his mother. It was there, about a year later, that Abraham Kuhn, a German-born banker visiting from New York, offered him a job as a partner in the investment firm he and Solomon Loeb had founded in 1867.
Please go to Haaretz to read the entire article.
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