Paul Wallich
Paul Wallich | |
|---|---|
| Born | 1882 |
| Died | 1938 |
| Occupation(s) | Financier, banker, academic |
| Known for | Partner at Dreyfus & Co., extensive personal library of 30,000 books |
Paul Wallich (1882–1938) was a German financier and the son of Hermann Wallich, one of the founders of Deutsche Bank. Although of Jewish descent, he identified as Christian and was fully assimilated. Wallich became a partner at the banking firm Dreyfus & Co. In addition to his banking career, he was an academic who collected an extensive personal library comprising 30,000 books.
After the Nazis seized power, both Wallich and his bank encountered severe discrimination because of their Jewish background. The institution underwent Aryanization, being transferred to non-Jewish proprietors through Munich-based Merck Finck & Co.. As part of this transition, Wallich entered into a consulting agreement for ten years, receiving an annual payment of 50,000 marks.
Following the events of the Kristallnacht pogrom, Wallich took his own life by drowning in the Rhine near Cologne. Despite having international experience and chances to leave Germany, he chose to stay but ultimately found the situation intolerable.