Lewis Glucksman
Lewis L. Glucksman | |
|---|---|
| Born | 22 December 1925 Manhattan, New York City, U.S. |
| Died | 5 July 2006 (aged 80) |
| Occupation(s) | Businessman, trader, CEO |
| Known for | CEO of Lehman Brothers, Kuhn, Loeb Inc. |
Lewis L. Glucksman (December 22, 1925 – July 5, 2006) was a notable trader and chief executive officer at Lehman Brothers, Kuhn, Loeb Inc., having previously worked within Lehman Brothers.
Early life and education
Born to a Hungarian Jewish family on Manhattan’s Upper West Side, Glucksman volunteered as a teenager in the US Navy during World War II. He completed his undergraduate studies at the College of William and Mary and obtained an MBA from New York University. In recognition of his achievements, the National University of Ireland conferred upon him an honorary Ph.D. in 2002.
Career
Glucksman began his tenure at Lehman Brothers in 1963, advancing from leading sales and trading operations to becoming co-CEO. In 1983, he secured control of the company by outmaneuvering former United States Secretary of Commerce Pete Peterson in a leadership contest, a conflict chronicled in Ken Auletta’s book Greed and Glory on Wall Street.
After profits declined significantly under his management, Lehman Brothers was acquired by American Express in 1984 for $360 million. Subsequently, Glucksman joined Primerica Financial Services following its acquisition by Sanford Weill, founder of Citigroup, in 1988. Additionally, he held the position of Commissioner at the Port Authority of New York and New Jersey.
Ireland and philanthropy
As a trustee of New York University, Glucksman frequently visited Ireland to strengthen academic collaborations between Irish institutions and NYU. In 1984, he and his wife Loretta Brennan Glucksman purchased a residence in Cobh, County Cork, where they began residing permanently from 1999.
His philanthropic efforts predominantly supported Irish cultural initiatives. These included relocating the Coastal and Marine Research Centre at UCC to facilities on Cork Harbour’s waterfront; sponsoring the Lewis Glucksman Gallery at UCC; funding the Glucksman Chair of Literature as well as the Glucksman Library and Reading Room at the University of Limerick; contributing to the Millennium Wing at the National Gallery of Ireland; founding Glucksman Ireland House at NYU in 1993 as a hub for Irish culture; and actively engaging with The Ireland Funds.
At NYU Stern, the Glucksman Institute for Research in Securities Markets—endowed by Lewis Glucksman (Stern MBA '1951)—offers grants to faculty and students supporting research across equities, bonds, futures, options, and financial markets.
Personal life and death
In 1987, Glucksman married Loretta Brennan, an Irish American who had three children from a previous marriage. He passed away in 2006 at his home in Cobh at age 80. He was survived by his wife; two daughters, Mary Salinger Glucksman and Jane Salinger Glucksman; along with three stepchildren: John Cooney, Christopher Cooney, and Kate Cooney Picco.