Lewis L. Glucksman (December 22, 1925 – July 5, 2006) was a former
Lehman Brothers
Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, a ...
trader and former chief executive officer and chairman of
Lehman Brothers, Kuhn, Loeb Inc.
Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, a ...
Early life and education
Glucksman was born into a second generation
Hungarian Jewish
The history of the Jews in Hungary dates back to at least the Kingdom of Hungary, with some records even predating the Hungarian conquest of the Carpathian Basin in 895 CE by over 600 years. Written sources prove that Jewish communities lived i ...
family that lived on the
Upper West Side
The Upper West Side (UWS) is a neighborhood in the borough of Manhattan in New York City. It is bounded by Central Park on the east, the Hudson River on the west, West 59th Street to the south, and West 110th Street to the north. The Upper West ...
of
Manhattan
Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state ...
,
New York City
New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
.
He served as a teenage volunteer with the
US Navy
The United States Navy (USN) is the maritime service branch of the United States Armed Forces and one of the eight uniformed services of the United States. It is the largest and most powerful navy in the world, with the estimated tonnage ...
in
World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...
.
Glucksman graduated from the
College of William and Mary
The College of William & Mary (officially The College of William and Mary in Virginia, abbreviated as William & Mary, W&M) is a public research university in Williamsburg, Virginia. Founded in 1693 by letters patent issued by King William III ...
and later earned a Master's degree in business administration from
New York University
New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then-Secretary of the Treasury Albert Gallatin.
In 1832, the ...
. The
National University of Ireland
The National University of Ireland (NUI) ( ga, Ollscoil na hÉireann) is a federal university system of ''constituent universities'' (previously called ''university college, constituent colleges'') and ''recognised colleges'' set up under t ...
granted him an honorary
Ph.D.
A Doctor of Philosophy (PhD, Ph.D., or DPhil; Latin: or ') is the most common degree at the highest academic level awarded following a course of study. PhDs are awarded for programs across the whole breadth of academic fields. Because it is ...
in 2002.
Career
Glucksman had a distinguished career on
Wall Street. He joined the staff of privately held Lehman Brothers in 1963. After rising from head of sales and trading at Lehman to co-CEO, Glucksman, described then as "gruff and tough" beat
Pete Peterson
Douglas Brian "Pete" Peterson (born June 26, 1935) is an American politician and diplomat. He served as a United States Air Force pilot during the Vietnam War and spent over six years as a prisoner of the North Vietnamese army after his plane w ...
, a former
United States Secretary of Commerce
The United States secretary of commerce (SecCom) is the head of the United States Department of Commerce. The secretary serves as the principal advisor to the president of the United States on all matters relating to commerce. The secretary rep ...
for control of the then-closely held firm in 1983, a battle documented in the 1986 book ''Greed and Glory on Wall Street'' by
Ken Auletta
Kenneth B. Auletta (born April 23, 1942) is an American author, a political columnist for the New York Daily News, and media critic for ''The New Yorker''.
Early life and education
The son of an Italian American father and a Jewish American ...
.
Shortly after Glucksman took control, however, the firm experienced a sharp drop in profits. That resulted in a forced sale by Lehman's partners to
American Express
American Express Company (Amex) is an American multinational corporation specialized in payment card services headquartered at 200 Vesey Street in the Battery Park City neighborhood of Lower Manhattan in New York City. The company was found ...
in 1984. American Express paid $380 million for the firm. Glucksman joined
Primerica Financial Services
Primerica, Inc. (NYSE: PRI) is a company that provides insurance, investment and financial services to middle income families in the United States and Canada.
Primerica is the parent company of National Benefit Life Insurance Company, Pri ...
after Citigroup Inc. founder
Sanford Weill
Sanford I. "Sandy" Weill (; born March 16, 1933) is an American banker, financier and philanthropist. He is a former chief executive and chairman of Citigroup. He served in those positions from 1998 until October 1, 2003, and April 18, 2006, re ...
acquired the company in 1988. He also served as Commissioner of the
Port Authority of New York and New Jersey
The Port Authority of New York and New Jersey, PANYNJ; stylized, in logo since 2020, as Port Authority NY NJ, is a joint venture between the U.S. states of New York and New Jersey, established in 1921 through an interstate compact authorized ...
.
Ireland and philanthropy
He travelled to
Ireland
Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic Ocean, in Northwestern Europe, north-western Europe. It is separated from Great Britain to its east by the North Channel (Grea ...
frequently in his role as a trustee of
New York University
New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then-Secretary of the Treasury Albert Gallatin.
In 1832, the ...
to promote academic relationships between Irish academia and NYU. He established a home in
Cobh
Cobh ( ,), known from 1849 until 1920 as Queenstown, is a seaport town on the south coast of County Cork, Ireland. With a population of around 13,000 inhabitants, Cobh is on the south side of Great Island in Cork Harbour and home to Ireland's ...
,
County Cork
County Cork ( ga, Contae Chorcaí) is the largest and the southernmost county of Ireland, named after the city of Cork, the state's second-largest city. It is in the province of Munster and the Southern Region. Its largest market towns are ...
in 1984 with his wife Loretta Brennan Glucksman and lived there from 1999.
Glucksman directed much of his philanthropy towards projects of benefit to the promotion of culture in Ireland. These included the transfer of the Coastal and Marine Research Centre from
UCC The initialism UCC may stand for:
Law
* Uniform civil code of India, referring to proposed Civil code in the legal system of India, which would apply equally to all irrespective of their religion
* Uniform Commercial Code, a 1952 uniform act to ...
to waterfront premises at
Cork Harbour
Cork Harbour () is a natural harbour and river estuary at the mouth of the River Lee in County Cork, Ireland. It is one of several which lay claim to the title of "second largest natural harbour in the world by navigational area" (after Port Ja ...
; his patronage of the
Lewis Glucksman Gallery
The Glucksman, formerly known as the Lewis Glucksman Gallery ( ga, Áiléar Lewis Glucksman), is an art museum in University College Cork, Republic of Ireland, Ireland.
Opened to the public by the President of Ireland, Mary McAleese on 14 Oc ...
at UCC and the Glucksman Chair of Literature and the Glucksman Library and Reading Room at the
University of Limerick
The University of Limerick (UL) ( ga, Ollscoil Luimnigh) is a Public university, public research university institution in Limerick, Republic of Ireland, Ireland. Founded in 1972 as the National Institute for Higher Education, Limerick, it beca ...
; his support for the Millennium Wing of the
National Gallery of Ireland
The National Gallery of Ireland ( ga, Gailearaí Náisiúnta na hÉireann) houses the national collection of Irish and European art. It is located in the centre of Dublin with one entrance on Merrion Square, beside Leinster House, and another on ...
; his 1993 founding of Glucksman Ireland House at
New York University
New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then-Secretary of the Treasury Albert Gallatin.
In 1832, the ...
as a centre of Irish culture, language, literature and music; and his participation in
The Ireland Funds
The Ireland Funds are a global fundraising network for people of Irish ancestry and friends of Ireland, dedicated to raising funds to support programs of peace and reconciliation, arts and culture, education and community development throughout t ...
.
The Glucksman Institute for Research in Securities Markets (formed at
NYU Stern
New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then-Secretary of the Treasury Albert Gallatin.
In 1832, the ...
) is endowed by a grant from Lewis Glucksman, Stern MBA '1951. It offers faculty and student grants to support research on equities, bonds, futures, options, and other financial instruments and on the markets where they are traded.
Personal life and death
In 1987, Glucksman married Loretta Brennan
an
Irish American.
[Irish America Hall of Fame 2012: "Loretta Brennan Glucksman"]
2012 She had three children from her first marriage.
Glucksman died at his home in
Cobh
Cobh ( ,), known from 1849 until 1920 as Queenstown, is a seaport town on the south coast of County Cork, Ireland. With a population of around 13,000 inhabitants, Cobh is on the south side of Great Island in Cork Harbour and home to Ireland's ...
in 2006, aged 80. He was survived by his wife and his daughters Mary Salinger Glucksman and Jane Salinger Glucksman; and three stepchildren,
John Cooney, Christopher Cooney, and Kate Cooney Picco.
The Independent (Ireland): "Life marked by kindness, wisdom and generosity"
July 7, 2006
References
* (2006, July 7). ''Lewis Glucksman, 80; Lehman Bros. Trader Rose to Chief Executive''. The Los Angeles Times
External links
Lehman Brothers
Glucksman Institute for Research in Securities Markets
The Ireland Funds
The Glucksman Gallery
Glucksman Ireland House, New York University
{{DEFAULTSORT:Glucksman, Lewis
1925 births
2006 deaths
Jewish American bankers
Citigroup people
Philanthropists from New York (state)
Ireland Funds
Businesspeople from New York City
College of William & Mary alumni
Jewish American philanthropists
Lehman Brothers people