Friedrich Bernhard Eugen Gutmann, born in Berlin, was the son of Eugen Gutmann, founder of Dresdner Bank. Eugen was ennobled for his contributions and amassed a vast art collection. Friedrich, also known as Frits, married Baroness Louise von Landau, both from Jewish banking families, and converted to Christianity. After World War I, the Gutmanns moved to the Netherlands, settling in Bosbeek, Heemstede. Frits expanded the inherited art collection with modern works, favoring Impressionism. In 1933, due to his Jewish heritage, Frits resigned from his bank position. After the German invasion, he attempted to secure safe passage to Italy by selling part of his collection, but the funds were inaccessible. In 1943, the couple was deported to Theresienstadt, where Frits was killed, and Louise later perished in Auschwitz.