In 1932, he set up the production company Cine-Allianz with Gregor Rabinovitch.

The company enjoyed commercial success, but was subsequently expropriated from them by the Nazi government of Germany as part of the anti-Jewish policy.

He was not related to the Hungarian British filmmaker Emeric Pressburger.

He was the father of Fred Pressburger, also in the film business.

Arnold died at the age of 65, while the shooting of his last-produced film, 'Der Verlorene' was underway.