Henry Lehman

Henry Lehman
Born	Hayum Lehmann Template:Birth date Rimpar, near Würzburg, Bavaria
Died	November 17, 1855(1855-11-17) (aged 33) New Orleans, Louisiana, U.S.
Occupation	Businessman
Known for	Founder of Lehman Brothers

Henry Lehman (originally named Hayum Lehmann; September 29, 1822 – November 17, 1855) was a businessman of German origin who founded Lehman Brothers. The enterprise initially began as a retail shop specializing in cotton and textiles, later transforming into a prominent financial institution under the guidance of his siblings.

Life and work

Born Hayum Lehmann into a Jewish household, he was the son of Eva (Rosenheim) and Abraham Lehmann, a cattle trader from Rimpar near Würzburg. In 1844, he emigrated to the United States and adopted the name Henry Lehman. He established a dry goods business named "H. Lehman" in Montgomery, Alabama. The arrival of his brother Emanuel Lehman in 1847 led to the business being renamed "H. Lehman and Bro." When the youngest brother Mayer Lehman joined in 1850, the company took on the name "Lehman Brothers".

During this period, cotton was the dominant agricultural product in the South. Capitalizing on cotton's international importance, the Lehman brothers operated as cotton factors by accepting cotton bales as payment for goods and eventually engaging directly in cotton trade with farmers. Henry cultivated strong relationships with farmers who were wary of banks that typically lent only to merchants. Utilizing knowledge from his Bavarian background, he accepted cotton as loan collateral, which became the firm's main line of business—a profitable operation bolstered by an efficient warehouse system.

While traveling in New Orleans, Henry Lehman succumbed to yellow fever in 1855. Following his death, his brothers moved the company's base to New York City and developed it into a leading American investment bank that lasted for more than 150 years until its failure in 2008.