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Jacob Schiff
Jacob Henry Schiff (born Jakob Heinrich Schiff; January 10, 1847 – September 25, 1920) was an American banker, businessman, and philanthropist. He helped finance, among many other things, the Japanese military efforts against Tsarist Russia in the Russo-Japanese War.
Born in Frankfurt, Germany, Schiff migrated to the United States after the American civil war, and joined the firm Kuhn, Loeb & Co.〔http://jewishencyclopedia.com/articles/13266-schiff〕 From his base on Wall Street, he was the foremost Jewish leader from 1880 to 1920 in what later became known as the "Schiff era", grappling with all major Jewish issues and problems of the day, including the plight of Russian Jews under the Tsar, American and international anti-semitism, care of needy Jewish immigrants, and the rise of Zionism.〔Naomi Wiener Cohen, ''(Jacob H. Schiff: a study in American Jewish leadership )''〕〔Glazer, N (1957) ''American Judaism'', UCP.〕 He also became a director of many important corporations, including the National City Bank of New York, Equitable Life Assurance Society, Wells Fargo & Company, and the Union Pacific Railroad. In many of his interests he was associated with E. H. Harriman.
==Early life==
Schiff was born in 1847 in Frankfurt am Main, Germany, to Moses and Clara (née Niederhofheim) Schiff, members of a distinguished Ashkenazi Jewish rabbinical family that traced its lineage in Frankfurt back to 1370. His father, Moses Schiff, was a broker for the Rothschilds.〔 Schiff was educated in the schools of Frankfurt and was first employed in the banking and brokerage business as an apprentice in 1861.〔''The National Cyclopaedia of American Biography'', Vol. XIII, p. 533. New York: James T. White & Company, 1906.〕 After the American Civil War had ended in April, 1865, Schiff came to the United States, arriving in New York City on August 6. He was licensed as a broker on November 21, 1866, and joined the firm of Budge, Schiff & Company in 1867. He became a naturalized citizen of the United States in September 1870.〔
Upon the dissolution of Budge, Schiff & Company in 1872, Schiff decided to return to Germany. In 1873 he became manager of the Hamburg branch of the London & Hanseatic Bank. He returned to Frankfurt, however, upon the death of his father later that year. In 1874 Abraham Kuhn of the banking firm of Kuhn, Loeb & Company invited him to return to New York and enter the firm.〔
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