Howard Milstein
Howard Milstein | |
|---|---|
| File:Howard Philip Milstein (cropped).jpg Milstein in 2015 | |
| Born | Template:Birth based on age as of date |
| Education | Cornell University (BA) Harvard University (JD, MBA) |
| Occupation(s) | Banker, real estate developer |
| Spouse |
Abby Sniderman (m. 1976) |
| Children | 1 |
| Parent(s) | Irma Cameron Milstein Paul Milstein |
| Family | Seymour Milstein (uncle) Philip L. Milstein (cousin) |
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Howard Philip Milstein (born ) is a prominent American entrepreneur who serves as chairman, president, and chief executive officer of New York Private Bank & Trust along with its banking subsidiary, Emigrant Bank. He previously held the position of chairman at the New York State Thruway Authority until 2014, during which time he supervised the Tappan Zee Bridge replacement initiative. Additionally, Milstein acts as chairman of Milstein Properties.[1]
Early life and education
Born to Irma and Paul Milstein, a notable figure in real estate development, Howard Milstein completed his undergraduate studies with a B.A. in economics at Cornell University in 1973. He further advanced his education by earning both a JD and MBA from Harvard University in 1977. He is licensed to practice law in the state of New York.[2]
Career
Milstein launched his professional journey at the investment bank Warburg Paribas Becker before co-founding the merchant bank FreidbergMilstein in 2003.[3] Since 2004, he has been at the helm of Emigrant Bank as chairman, president, and CEO of its parent company, New York Private Bank & Trust.[4] In 2016, a jury determined that Emigrant Bank engaged in predatory lending practices targeting minority groups through high-interest mortgages; however, Milstein defended these lending activities as efforts to provide capital access within communities.[5]
He also holds chairmanship positions at Sarasota Private Bank & Trust and Cleveland Private Bank & Trust—both institutions predominantly owned by his family alongside regional partners.[6] The focus of Milstein Properties lies primarily in residential and commercial real estate development within New York City.[7]
Collaborating with his brother Edward and their father, he participated in several Manhattan-based projects. The family acquired the brokerage Douglas Elliman-Gibbons & Ives during the late 1980s; Howard led the company as chairman for a decade until its eventual sale.[8] In 1986, he established Liberty Cable to provide telecommunications services to the Milford Plaza Hotel.[9] More recently, in 2018, he initiated a technology campus in Midtown designed to accommodate tech firms.[10]
In 2007, through Emigrant Bank’s acquisition of full partnership interest in Nicklaus Companies LLC, Milstein assumed the role of executive chairman. This enterprise specializes in golf course design, equipment manufacturing, and brand licensing.[11] He further consolidated these assets under the holding company 8AM Golf in 2018, which manages Nicklaus Companies’ global golf-related brands such as Golf Magazine and Golf.com.[12] In September 2023, 8AM Golf revealed plans for a golf-themed sports bar venture located in Manhattan in partnership with Tiger Woods and Justin Timberlake.[13]
Civic
In November 2010, Milstein was selected by Andrew Cuomo to join the New York governor's transition team, specifically serving on the Committee focused on Economic Development & Labor. By June 2011, the New York State Senate confirmed him without opposition as the chairman of the New York State Thruway Authority.
Philanthropy
In 2005, under Milstein's leadership, Emigrant Bank contributed $1,000 to clients whose residences suffered damage from Hurricane Katrina. After Superstorm Sandy struck in 2012, Milstein and the bank together donated $2.3 million to support more than 2,000 first responders from the New York Police Department and firefighting units.
That same year, Milstein and his wife Abby—who serves as vice chair of the New York Public Library—committed $8 million to the institution. In 2017, he revealed a $20 million gift made to Cornell University. Milstein oversees the Howard & Abby Milstein Foundation and holds the position of chairman at the American Skin Association. Additionally, he is a board member for both the Nicklaus Children's Health Care Foundation and the National September 11 Memorial Foundation. He previously chaired the New York Blood Center.
Personal life
Milstein is married to Abby Sniderman Milstein, who chairs the Board of Trustees at the New York Public Library. Together they have a son, Michael, born in 1989, who serves as co-CEO and co-President of Emigrant Bank and Milstein Properties, as well as co-chair of 8AM Golf. In 2017, Howard and Michael Milstein jointly contributed $20 million to create the Milstein Program in Technology and Humanity, a collaborative initiative between Cornell University's College of Arts & Sciences and Cornell Tech.
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- ↑ Business Observer, Mark Gordon, 2/15/19
- ↑ Crain's, Fung, Amanda, 8/10/10
- ↑ New York Times
- ↑ New York Times
- ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
- ↑ Wall Street Journal
- ↑ Forbes
- ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).