Max Wellborn
Maximilian Bethune Wellborn | |
|---|---|
| Born | Template:Birth date Lewisville, Arkansas, U.S. |
| Died | November 28, 1957 (aged 95) Anniston, Alabama, U.S. |
| Occupation(s) | Banker, politician |
| Known for | First chairman and governor of the Federal Reserve Bank of Atlanta |
Maximilian Bethune Wellborn (born January 22, 1862, in Lewisville, Arkansas – died November 28, 1957, in Anniston, Alabama) was the inaugural chairman and subsequently governor of the Federal Reserve Bank of Atlanta. In addition to these roles, he held positions as a county commissioner and state senator in Calhoun County, Alabama. Wellborn's professional background included banking along with significant involvement in the railroad, real estate, and insurance industries.
Early life
Wellborn entered the world during the American Civil War in Arkansas and was raised in Eufaula, Alabama. He eventually relocated to Anniston, where he played a key role in fostering the city's swift growth.
Business career
As a self-made entrepreneur, Wellborn established five banking institutions and served for many years as chairman of the First National Bank of Anniston. He expanded his business interests into railroad, real estate, and insurance sectors, building upon his achievements in banking.
The Federal Reserve
After the Federal Reserve System was created in 1913, President Woodrow Wilson appointed Wellborn as the first chairman of the Atlanta branch. He held this position until 1919, after which he became governor, serving until his retirement in 1927. Eugene R. Black was selected by Wellborn to succeed him.
Political career
Prior to his Federal Reserve tenure, Wellborn acted as a county commissioner in Calhoun County and participated as a delegate at the 1912 Democratic National Convention. Upon retiring to his farm near Anniston in 1928, he later won election to the Alabama State Senate in 1934, completing one term through 1937.
Family
The Wellborn family maintained a notable tradition of public service. Max Wellborn upheld this heritage by donating numerous family documents to Auburn University, including materials related to his great-grandfather, naval hero Commodore John H. Dent.