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Siegmund George Warburg - Wikipedia

Sir Siegmund George Warburg (30 September 1902 – 18 October 1982) was a German-born English banker. en.wikipedia.org/wiki/Siegmund_…

In the period immediately before the Second World War he worked under cover for the Z Organisation, a highly secret offshoot of MI6/SIS, and reported impressively from Switzerland on his regular meetings with Hjalmar Schacht, then the president of the Nazi German

Reichsbank and thus the most powerful German banker.

He was forced to flee the National Socialist regime of Adolf Hitler and moved to the United Kingdom in 1934 where he co-founded S. G. Warburg & Co. in 1946 with Henry Grunfeld.

He was also simultaneously a partner in the U.S.

investment bank Kuhn, Loeb from 1953 until 1964 through a holding company to avoid the restrictions of the Glass–Steagall Act.

Henry Grunfeld (1 June 1904 – 10 June 1999) was a merchant banker who played a prominent role in the development of investment banking and the growth of

London as a financial centre following the Second World War.

Grunfeld subsequently represented the German Steel Industry in its negotiations with the Weimar government.

Exiled in London, after a period of operating an independent factoring business, Grunfeld joined forces with

Siegmund Warburg in the New Trading Company, which was established to help refugees from Europe extract their money from their native country and invest it safely.

The New Trading Company was renamed as S.G. Warburg & Co. in 1946.

S. G. Warburg and Co. were recognised for its

pioneering mergers and takeover work in the UK in the 1960s. These works included the first ever hostile takeover in the UK and the first-ever Eurobond issue, which fostered the new Eurodollar market. The firm's acquisition of Seligman Bros. in 1957 was a significant event in

its rise to prominence; through this, Warburg gained a place on the Accepting Houses Committee, which is composed of the 17 top merchant banks with access to cheap capital backed by the Bank of England.

In 1958–1959, Tube Investments, advised by S. G. Warburg & Co, fought a

fierce and ultimately successful battle to acquire British Aluminium in a bidding war with a consortium of City of London bankers led by Morgan Grenfell.

Ivan Stedeford joined Tube Investments in 1928.

Ivan was Governor of the BBC, having been a member of the Beveridge

Committee on its structure. He was also a member of the boards of the Bank of England and the UK Atomic Energy Authority. He was on the council of the Department of Scientific Research and a member of the board of the Commonwealth Development Finance Company.

The United Kingdom

Atomic Energy Authority is a UK government research organisation responsible for the development of nuclear fusion power. It is an executive non-departmental public body of the Department for Business, Energy and Industrial Strategy (BEIS).

The authority was established on

19 July 1954 when the Atomic Energy Authority Act 1954.

Following the Atomic Energy Authority Act 1971, the authority was split into three, with only research activities remaining with the Authority. The Radiochemical Centre Ltd took over production of medical and industrial

radioisotopes and was later privatised in 1982 as Amersham plc. British Nuclear Fuels Ltd (BNFL) took over nuclear fuel and weapons material producing activities: the manufacturing plant at Springfields, the enrichment plant at Capenhurst, the spent-fuel facility at Windscale,

and the dual-purpose Calder Hall and Chapelcross military plutonium producing reactors.

Amersham plc was a manufacturer of radiopharmaceutical products, to be used in diagnostic and therapeutic nuclear medicine procedures. The company became GE Healthcare following a takeover in

2003, which was based at the original site in Amersham, Buckinghamshire until 2016, when the headquarters moved to Chicago.

In 2005, Sir William Castell, CEO of GE Healthcare and former CEO of Amersham plc stepped down as CEO to become Chairman of the Wellcome Trust—a charity

that fosters and promotes human and animal research—in the United Kingdom.

The Wellcome Trust is a charitable foundation focused on health research based in London, in the United Kingdom. It was established in 1936 with legacies from the pharmaceutical magnate Henry Wellcome

(founder of one of the predecessors of GlaxoSmithKline) to fund research to improve human and animal health.

The Wellcome Library is founded on the collection formed by Sir Henry Wellcome (1853–1936), whose personal wealth allowed him to create one of the most ambitious

collections of the 20th century. Henry Wellcome's interest was the history of medicine in a broad sense and included subjects such as alchemy or witchcraft, but also anthropology and ethnography.

Wellcome's first major entry into the market took place at the auction of

William Morris's library in 1898, where he was the biggest single purchaser, taking away about a third of the lots.

Significant collections acquired during this early period included the library of Joseph Frank Payne, medical historian and librarian of the Royal College of

Physicians, purchased in 1911, and the major part of the library of the Munich historian Ernst Darmstaedter, bought in 1930.

In 1879 Payne was sent to Russia by the British government with Surgeon-major Colvill to observe and report on the epidemic of bubonic plague then in

progress at Vetlanka.

Pathology, epidemiology, dermatology, and the history of medicine were the subjects in which Payne took most interest.

When Henry Wellcome died, the bulk of his estate and his collection was bequeathed to a body of trustees, who formed the Wellcome Trust.

In the summer of 2015, the Wellcome Trust joined the Japanese government, 7 Japanese pharmaceutical and diagnostics companies, The Bill and Melinda Gates Foundation, and the United Nations Development Program as funding partner of the Global Health Innovative Technology

Fund (GHIT), which funds scientific research and development for anti-infectives and diagnostics for diseases that primarily affect the developing world.

In August 2014, the Wellcome Trust bought the Co-operative Group's farm business (renamed Farmcare) for £249 million.

The idea of a Japanese nonprofit focused on global health R&D was conceived during a conversation between Tachi Yamada and former executive at Eisai Co. Ltd., BT Slingsby – the fund's first CEO and founder of GHIT.

Tadataka "Tachi" Yamada KBE (山田忠孝 Yamada Tadataka or "ターチ

Tachi"; 5 June 1945 – 4 August 2021) was a Japanese-born American physician and gastroenterologist. He was a venture partner of Frazier Healthcare Partners.

Prior to Frazier Healthcare Partners, Yamada was Executive Vice-President and a Board Member of Takeda Pharmaceuticals.

Takeda Pharmaceuticals was founded in 1781, and was incorporated on January 29, 1925.

The MIT-Takeda Program is housed in the MIT Jameel Clinic, and is led by Professor James J. Collins, with a steering committee led by Professor Anantha P. Chandrakasan, dean of the MIT School

of Engineering, and Anne Heatherington, senior vice president and head of Data Sciences Institute (DSI) at Takeda.

Co-founded in 2018 by MIT and Community Jameel, the MIT Jameel Clinic is housed in the MIT Schwarzman College of Computing.

On September 17, 2018, the MIT

Jameel Clinic was co-founded by MIT and Community Jameel, an organisation of the Jameel family, owners of the Abdul Latif Jameel business.

Abdul Latif Jameel is a family-owned diversified business founded in Saudi Arabia in 1945 by the late Sheikh Abdul Latif Jameel (1909–1993).

In 2020, James Collins was part of the team—with fellow MIT Jameel Clinic faculty lead Professor Regina Barzilay—that announced the discovery through deep learning of halicin, the first new antibiotic compound for 30 years, which kills over 35 powerful bacteria, including

antimicrobial-resistant tuberculosis, the superbug C. difficile, and two of the World Health Organization's top-three most deadly bacteria.

Before joining Takeda, Tachi Yamada was the President of the Global Health Program at the Bill & Melinda Gates Foundation.

Among his many

other activities he was a member of the Board of Directors of public corporations across four continents and was a member of the Board of Agilent Technologies and chaired the Boards of Phathom Pharmaceuticals and Passage Bio, two companies for which he was a founder. He also

served as a member of the President’s Council of Advisors on Science and Technology, Vice-Chair of the Council of the National Academy of Medicine (US), President of the Association of American Physicians and President of the American Gastroenterological Association. He served

as a member of the Board of the University of Michigan Health System and as Chairman of the Board of the Clinton Health Access Initiative.

As of January 1, 2010, the Clinton HIV/AIDS Initiative, an initiative of the Clinton Foundation, became a separate nonprofit organization

called the Clinton Health Access Initiative (CHAI).

In May 2007, CHAI and UNITAID announced agreements that help middle-income and low-income countries save money on second-line drugs.

CHAI was spun off into a separate organization in 2010; Ira Magaziner became its CEO (he

had been a key figure in the Clinton health care plan of 1993). Chelsea Clinton joined its board in 2011, as did Tachi Yamada, former President of the Global Health Program at the Bill & Melinda Gates Foundation.

In 2019, Marisol Touraine was elected chair of the

Executive Board of Unitaid.

In 2009, Touraine belonged to the "Future of Health Club" (Club Avenir de la santé), a lobby group funded by GlaxoSmithKline.

Ira Magaziner (born November 8, 1947) is an American advisor.

Ira’s valedictory address at Brown graduation was featured

in a 1969 Life magazine special on student leaders—a special which also included a story about a recent Wellesley College graduate, future First Lady, New York Senator, and Secretary of State Hillary Rodham. After his address, Magaziner led the students in turning their backs on

Henry Kissinger, who was receiving an honorary degree.

Ira was named a Rhodes Scholar upon graduation and studied political philosophy and economics under Isaiah Berlin at Balliol College of the University of Oxford. While studying at Oxford, Magaziner met Bill Clinton, also a

Rhodes Scholar, who would become a close friend and eventually boss in the 1990s.

Strobe Talbott became friends with future President Bill Clinton when both were Rhodes Scholars at the University of Oxford.

During World War II, the Runnymede Playhouse on the Talbott family

estate in a residential neighborhood of Oakwood, Montgomery County, Ohio (a suburb of Dayton), hosted the Dayton Project (the part of the Manhattan Project involved in creating the neutron-generating triggers for the first atomic bombs from radioactive polonium). Charles

Allen Thomas, a Delco-GM and Monsanto Company chemist who was in charge of the project, was married to Harold's sister Margaret.

Ira Magaziner went on to work for the Boston Consulting Group in Boston, London and Tokyo from 1973 to 1979.

In 1975 Mitt Romney was recruited by

several large companies but joined the Boston Consulting Group (BCG).
At BCG, he was a colleague of Benjamin Netanyahu, with whom he formed a friendship that has lasted for more than 40 years.

In 1983, on a 12-hour family road trip, Mitt placed the family's dog in a

windshield-equipped carrier on the roof of their car, and then washed the car and carrier after the dog suffered a bout of diarrhea.

Magaziner has authored two books on business strategy and industrial policy: Minding America's Business and The Silent War. The former, co-

authored with future Clinton Secretary of Labor Robert Reich, laid out a plan for U.S. industrial policy in the late 1970s and early 1980s.

While at Dartmouth, Robert Reich went on a date with Hillary Rodham, the future Hillary Clinton, then an undergraduate at Wellesley

College.

While a Rhodes Scholar at Oxford, Reich first met Bill Clinton, also a Rhodes Scholar. Although he was drafted to serve in the Vietnam War, he did not pass the physical as he was under the required minimum height of five feet.

Reich subsequently earned a J.D. from

Yale Law School, where he was an editor of the Yale Law Journal. At Yale, he was classmates with Bill Clinton, Hillary Rode’em, Clarence Thomas, Michael Medved, Richard Blumenthal, David E. Kendall, Strobe Talbott and John Bolton.

Magaziner is best known for leading, along

with Hillary Clinton, the failed Task Force to Reform Health Care.

Magaziner stayed in the administration and worked to develop an E-Commerce policy initiative with OSTP staff and industry advisors. That initiative evolved to include a facilitative role in the formation of the

Internet Corporation for Assigned Names and Numbers (ICANN) to assume Internet administrative activities previously maintained by the US DARPA.

Before the establishment of ICANN, the IANA function of administering registries of Internet protocol identifiers (including the

distributing top-level domains and IP addresses) was performed by Jon Postel, a Computer Science researcher who had been involved in the creation of ARPANET, first at UCLA and then at USC-ISI.

On October 1, 2016, ICANN ended its contract with the United States Department of

Commerce National Telecommunications and Information Administration (NTIA) and entered the private sector.

The European Union's General Data Protection Regulation (active since May 25, 2018) impacted on ICANN operations, which the latter tried to fix through last-minute changes.

The deadline coincided with French President Macron's hosting of technology businesspeople such as Facebook CEO Mark Zuckerberg, Microsoft CEO Satya Nadella, Uber CEO Dara Khosrowshahi, IBM CEO Ginni Rometty, Intel CEO Brian Krzanich, Samsung President Young Sohn, and SAP CEO

Bill McDermott.

The final chapter of the privatization process began in 2014, when NTIA asked ICANN to convene the global multistakeholder community, which is made up of private-sector representatives, technical experts, academics, civil society, governments and individual

Internet end users, to come together and formulate proposals to both replace NTIA’s historic stewardship role and enhance ICANN’s accountability mechanisms.

In an attempt to wrest control over the lucrative .ORG registry, Ethos Capital, a new private equity firm that lists two

employees on its website and has no track record in public interest work, announced it would acquire Public Interest Registry (PIR). PIR is itself a nonprofit that, as a subsidiary of the nonprofit Internet Society, has for the past 17 years overseen the registry used by

millions of organizations large and small.

Ethos Capital is an American private equity investment firm founded in 2019 for the purpose of gaining control of the .ORG internet domain name and capitalizing upon it using a portfolio of data-monetization startups. Although that

effort failed, company founders Erik Brooks and Fadi Chehadé went on to use the vehicle to buy domain name registrar Donuts and registry services provider Afilias from Abry Partners, where Brooks had been managing partner.

Fadi Chehadé (Arabic: فادي شحادة) (born 1962) is an

information technology executive, founder of RosettaNet and former Chief Executive Officer (CEO) of ICANN.

In 2014 Chehadé's oversaw the initiation of the process to transfer of IANA functions from the United States to the global Internet community.

IANA was established

informally as a reference to various technical functions for the ARPANET, that Jon Postel and Joyce K. Reynolds performed at the University of California at Los Angeles (UCLA) and at the University of Southern California's Information Sciences Institute.

In 1995, the

National Science Foundation authorized Network Solutions to assess domain name registrants a $50 fee per year for the first two years, 30 percent of which was to be deposited in the Intellectual Infrastructure Fund (IIF), a fund to be used for the preservation and enhancement of

the intellectual infrastructure of the Internet.

In January 1998, Postel was threatened by US Presidential science advisor Ira Magaziner with the statement "You'll never work on the Internet again" after Postel collaborated with root server operators to test using a root server

other than Network Solutions' "A" root to act as the authority over the root zone.

Starting in 1988, IANA was funded by the U.S. government under a contract between the Defense Advanced Research Projects Agency and the Information Sciences Institute.

This desire to move away

from a United States centric approach is seen as a reaction to the ongoing NSA surveillance scandal.

The Panel On Global Internet Cooperation and Governance Mechanisms (convened by the Internet Corporation for Assigned Names and Numbers (ICANN) and the World Economic Forum (WEF)

with assistance from The Annenberg Foundation), supported and included the NetMundial statement in its own report.

Walter H. Annenberg headed the Annenberg Foundation until his death in 2002. Leonore, his wife, ran it until her death in March 2009. Since then, the

foundation's trusteeship has been led by Wallis Annenberg and three of her children: Lauren Bon, Gregory Annenberg Weingarten and Charles Annenberg Weingarten.

Walter Hubert Annenberg (March 13, 1908 – October 1, 2002) was an American businessman, investor, philanthropist, and

diplomat. Annenberg owned and operated Triangle Publications, which included ownership of The Philadelphia Inquirer, TV Guide, the Daily Racing Form and Seventeen magazine. He was appointed by President Richard Nixon as United States Ambassador to the United Kingdom, where he

served from 1969 to 1974.

During his tenure as U.S. ambassador to the United Kingdom, he developed a close friendship with Queen Elizabeth II and other members of the royal family.

Annenberg was a stutterer since childhood.

In 1966, Annenberg used the Inquirer to cast doubt on the candidacy of Democrat Milton Shapp for governor of Pennsylvania. Shapp was highly critical of the proposed merger of the Pennsylvania Railroad with the New York Central Railroad and was pushing the US Interstate Commerce

Commission to prevent it from occurring. Annenberg, who was the biggest individual stockholder of the Pennsylvania Railroad, wanted to see the merger succeed (which it did) and he was frustrated with Shapp's opposition.

Annenberg introduced President Reagan to British Prime

Minister Margaret Thatcher, and the Reagans often celebrated New Year's Eve with the Annenbergs. President Ronald Reagan named Leonore Annenberg the State Department's Chief of Protocol in early 1981.

He sold Triangle Publications (TV Guide, Daily Racing Form and a few other

publications) to Australian publishing magnate Rupert Murdoch in 1988.

In 1951, Annenberg married Leonore "Lee" Cohn. Lee was a niece of Harry Cohn, the founder and president of Columbia Pictures.

Harry Cohn was born to a working-class Jewish family in New York City. His

father, Joseph Cohen, was a tailor from Germany, and his mother, Bella Joseph, was from Pale of Settlement, Russian Empire.

Cohn had a long-standing friendship with Chicago mobster John Roselli, and New Jersey mob boss Abner Zwillman was the source of the loan that allowed Cohn

to buy out his partner Brandt.

Abner "Longie" Zwillman (July 27, 1904 – February 26, 1959) was an American mob boss who rose to power in the criminal underworld, primarily in North Jersey. He was a long time friend and associate of mobsters Lucky Luciano and Meyer Lansky.

Zwillman's criminal organization was a part of the National Crime Syndicate.

Meyer Lansky is credited with having "controlled" compromising pictures of a sexual nature featuring former FBI director J. Edgar Hoover with his longtime aide, Clyde Tolson.

One such stage for the

acquisition of blackmail materials were orgies held by late attorney and Lansky protégé Roy Cohn and liquor magnate Lewis Rosenstiel, who had lasting ties with the Mafia from his bootleg operations during Prohibition.

Zwillman dated actress Jean Harlow at one time and got her

a two-picture deal at Columbia Pictures by giving a huge cash loan to studio head Harry Cohn.

Zwillman married Mary de Groot Mendels Steinbach in 1939. She was the only daughter of Eugene Mendels, whose father, Emanuel S. Mendels, was a founder of the American Stock Exchange

(then known as the Curb Exchange).

After Dutch Schultz's murder in 1935, Zwillman took over those of Schultz's criminal operations that were in New Jersey. The press began calling Zwillman the "Al Capone of New Jersey." However, Zwillman often sought to legitimize his image,

offering a reward for the return of the Lindbergh baby in 1932.

Steven Jay Ross (born Steven Jay Rechnitz; April 5, 1927 – December 20, 1992) was an American businessman who was the CEO of Time Warner (now Warner Media), Warner Communications, and Kinney National Services, Inc.

In 1953, Rechnitz married Carol Rosenthal, the daughter of a Manhattan funeral home owner, Edward Rosenthal, who operated the largest funeral company in the United States, Riverside Memorial Chapel, where he accepted employment as a funeral director.

The company was solidly

profitable and enabled Ross to obtain bank financing to start a rental company, Abbey Rent a Car.
He later merged Abbey with a parking lot operator, the Kinney Parking Company, which was then owned by underworld crime figures Manny Kimmel and Abner Zwillman, and added an office

cleaning business (which was jointly owned by the funeral home and a cousin of his father-in-law).

Kinney was taken public in 1962 with a market valuation of $12.5 million.

In 1964, Kinney purchased wood flooring manufacturer Circle Floor from Seymour and Paul Milstein for

$15 million with Paul remaining as manager of the unit until 1971.

Ross served as company president and moved the firm from downtown New York to 10 Rockefeller Plaza.

In 1974, the Milsteins entered the mining and energy sectors, acquiring United Fruit Company, the parent

company of Chiquita Bananas, after the its owner Eli M. Black went flying out the 44th floor window of the Pan-Am building with nothing but his briefcase and tragically no parachute.

His son Leon Black is a founding member of private equity firm Apollo Management.

Since the 1858 Sepoy Rebellion gave a bad name to Britain's East India Company, the Company's sponsors have preferred to spin off the dirtier side of its opera­ tions into separable entities which may be disowned when necessary. For Asia, the new incarnation of "John Company,"

the inheritor of the old Venetian trade network in opium, spices, and slaves, became the 1864- founded Hongkong and Shanghai Bank, stilI the central bank for the world opium traffic. For Latin America it became the New Orleans and Boston-based United Fruit Company.
The sometimes

bewildering change of faces at United Fruit-from the old, odd alliance of New Orle­ans gangsters and Boston Brahmins of the 1930s to the Max Fisher-Carl Lindner combination now at the helm--does not really disguise a long-term continuity of operations.

United Fruit Company's

founding at the turn of this century was a transplantation, of the Odessa-to-Baltic grain trading interests that, at the height of Venetian mercantile power, came to control the finances of the Ottoman Empire, playing a central role in Russian­ Turkish diplomacy. The Venetian

Capodistria, who wrote the modern Swiss constitution after the 1814 Vienna Congress in his capacity as Russian foreign minister, established the links between Switzerland and the Eastern European banking families de Comondo, de Hirsch, and de Gunzberg. In 1850 the seat of the

Venetian grain trade moved to Switzerland when the Iselin family of Swiss Bank Corporation organized Louis Dreyfus and Company, now the world's number­ three grain trader.

The same Iselin family sponsored United Fruit's formation at the turn of the century through Central Trust

of New York, the commercial bank which con­ trolled all the rail routes (including the predecessor of the modern Illinois Gulf Central) from New Orleans to the Midwest grain belt. Central Trust board member Andre Iselin and fellow board member Samuel Unter­meyer, the trustifier

of the Midwest grain milling indus­ try, reincarnated the old Venetian monopoly over grain trade in the United States. Local New Orleans thugs like Nicholas Zemurray, and Boston shipowning inter­ ests who had hauled opium for the East India Company since 1820 (e.g., the Forbes

and Cabot interests) merged into United Fruit Co. under Central Trust sponsorship.
Central Trust became, in 1929, Hanover Trust, and in 1968 merged into Manufacturers Hanover Trust.
Despite the long stretch of time, the old relationships are perfectly intact; the former treasurer

of old Hanover Trust, Charles Woodruff, still directs the finances of United Brands, the successor organization to United Fruit since 1975.
Woodruff is the only outside director on the board of closely held American Financial Corporation, the Carl Lindner holding company that

controls 38 percent of the shares of United Brands. American Financial Corporation, apart from its relationship to the old United Fruit special operations in the Caribbean, is a major capability for laundering of illegal money, includ­ing narcotics revenues, in the United States,

the succes­ sor to the Robert Vescos, Bernie Cornfelds, Stanley Goldblums, and Michele Sindonas of the early 1970s.

Following his admission to the bar, Samuel Untermyer started practicing in New York City. His younger brother, Maurice Untermyer, was later admitted, while he

also recruited Columbia classmate Louis Marshall to join the firm in 1895. They, with Randolph Guggenheimer and his descendants, practiced as Guggenheimer, Untermyer & Marshall for 45 years.

Knollwood Club is an Adirondack Great Camp on Shingle Bay, Lower Saranac Lake, near the

village of Saranac Lake, New York, USA.

The camp was built for six friends: Elias Asiel (Asiel & Co.), George Blumenthal (Lazard Freres), Max Nathan, Abram M. Stein, Daniel Guggenheim (American Smelting and Refining), and Louis Marshall (noted constitutional lawyer and framer

of the "Forever Wild" clause in the NYS constitution). The choice of Lower Saranac Lake as the site was determined in part by the growing anti-Semitism in America in that period. In 1877, Joseph Seligman was involved in the most publicized anti-Semitic incident in American

history up to that point, being denied entry into the Grand Union Hotel in Saratoga, New York, despite having been a regular guest previously.

Albert Einstein was a frequent summer visitor; he was at Knollwood on August 6, 1945, when he heard on the radio that the atom bomb had

been dropped on Hiroshima, and it was at Knollwood that he gave his first interview after the event, on August 11.

Joseph Seligman (November 22, 1819 – April 25, 1880) was an American banker and businessman who founded J. & W. Seligman & Co.

In the 19th century, the U.S.

partnership of J.& W. Seligman & Co. Inc. had affiliates in Paris, Frankfurt and elsewhere. These entities became independent in 1897. The London partnership, Seligman Bros., was bought by S. G. Warburg & Co. in 1957.

This bank was founded in 1946 by Siegmund Warburg and Henry

Grunfeld.

In 1958–1959, Tube Investments, advised by S. G. Warburg & Co, fought a fierce and ultimately successful battle to acquire British Aluminium in a bidding war with a consortium of City of London bankers led by Morgan Grenfell. This battle is now remembered as the

"Aluminium War" and started a shift away from relational banking towards competitive banking.