Origins of our family name

I once had the good fortune to sit in synagogue next to Tibor Galambos. 

Tibor had escaped from Hungary during the 1956 uprising.

He explained to me the basis of our names:

owitz, ovitz, vitz, fitz,etc. are European suffixes or prefixes meaning "son of".

Loeb is medieval German (from which Yiddish is derived) which means lion.

So we had an originator ancestor who was the son of someone named Lion.