Lehman, Herbert

Lehman, Herbert (Henry)

(1878–1963) banker, governor, U.S. senator, philanthropist; born in New York City. He became a partner in his family's banking business in 1908 and served the government in various capacities during World War I. After serving as lieutenant governor of New York (1929–33) he succeeded Franklin Roosevelt as governor (1933–42) and combined fiscal benefits with liberal legislation. During World War II he directed the United Nations Relief and Rehabilitation Administration (1943–46). He served in the U.S. Senate (Dem., N.Y.; 1949–57) and was outspoken in his opposition to McCarthyism and in support of civil rights. Among his various philanthropies were child welfare and Jewish resettlement programs.
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While Ian Lowitt, the bank's co-chief administrative officer, will take over the chief finance role at Lehman, Herbert McDade III, head of the bank's equities division, will assume the role of chief operating officer at the investment bank.

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