City is now the Jewish Museum, and Kfar Warburg in Israel is named for him. Otto Warburg, a cousin of the German-based Warburgs was a wealthy botanist who was elected head of the World Zionist Organization in 1911. Felix's brother, Paul Warburg was one of the original founders of the board of the U.S. Federal Reserve System, a collection of 12 regional Reserve Banks headed by a Board of Governors which regulates and oversees private commercial banks. As one of the most prominent bankers of his time, his brother Max Warburg attended the Paris Peace Conference of 1919 at Versailles, as part of the German delegation. During the Weimar Republic, Max Warburg served on the board ('Generalrat') of the Reichsbank from 1924 to 1933, under two successive chairmen, Hjalmar Schacht, (until 1930), and Hans Luther (1930-1933); until 1934, he was also on the Board of the Bankenverband. Max Warburg emigrated in 1938. In the 1920s and 1930s, until the end of the Weimar Republic in 1933, Max Warburg also served on several Supervisory Boards ("Aufsichtsrat") in industry, notably HAPAG, Blohm &Voss, Beiersdorf, and, until his resignation in 1932, as a member of the Supervisory Board ("Aufsichtsrat") of the German conglomerate/ chemical firm known as I.G. Farben (Interessen Gemeinschaft Farben). His brother Paul Warburg, who died in January 1932a year before Hitler was elected Chancelloralso served on numerous Supervisory Boards ("Aufsichtsrat") including allegedly that of an I.G. Farben wholly owned US subsidiary. Most members of the German Warburg family had fled to the United States or Great Britain by the end of 1938. However, Max Warburg's brother, Fritz Warburg, who was preparing his exile in Sweden, was arrested by the Gestapo in Hamburg in early November 1938 and spent some months in prison before he could leave for Stockholm in May 1939. His daughter Eva came to organize the emigration for 500 German Jewish children from Germany and Austria to Sweden in 1938 and 1939. Also, three cousins, mother, Gerta and daughters Betty and Helene Julie (Burchard) Warburg, stayed in Altona. Gerta and Betty were murdered in the Sobibor extermination camp in 1940 and Helena Julie in Auschwitz in 1942. A life size portrait of Helene Julie by the Norwegian artist Edvard Munch today hangs in the Kunsthaus in Zurich (The Lady in White). Eric Warburg, son of Max Warburg, returned to Germany as an officer (colonel) in the American Air