Robert Lehman

Robert Lehman was an influential American banker, philanthropist, and preeminent art collector. As the senior partner of the venerable investment bank Lehman Brothers, he guided the firm through the tumultuous periods of the Great Depression and World War II. His profound legacy is most visibly enshrined in the Robert Lehman Collection, a cornerstone of The Metropolitan Museum of Art in New York City, which houses his unparalleled private collection of European masterworks.

Early life and education

Robert Lehman was born in 1891 into the prominent German-Jewish Lehman family, founders of the Lehman Brothers investment bank. He was the son of Philip Lehman, who succeeded Emanuel Lehman in leading the family firm. He received his early education at Hotchkiss School, a prestigious preparatory academy in Connecticut. Lehman subsequently attended Yale University, where he graduated in 1913, immersing himself in the social and academic circles that would later support his dual careers in finance and the arts.

Career at Lehman Brothers

Following his graduation, Lehman immediately joined the family enterprise, Lehman Brothers, which was then a dominant force in investment banking and venture capital, particularly in burgeoning industries like railroads and retail. He became a partner in 1921 and assumed leadership upon his father's retirement in 1925. As senior partner, he navigated the firm through the Wall Street Crash of 1929 and the ensuing Great Depression, restructuring its operations and helping to finance major corporations such as Pan American World Airways and the RCA. Under his stewardship, the firm expanded its underwriting activities and solidified its position on Wall Street, laying groundwork for its later evolution into a public company.

Art collection and philanthropy

Lehman's most enduring passion was the formation of one of the twentieth century's greatest private art collections, which he housed in a specially designed wing of his New York City residence. The collection was exceptionally broad, with masterpieces from the Italian Renaissance, including works by Sandro Botticelli and Giovanni di Paolo, through to French Impressionism, with paintings by Pierre-Auguste Renoir and Édouard Manet. He also amassed significant holdings of Old Master drawings, medieval illuminated manuscripts, and decorative arts from the Renaissance and Baroque periods. A major benefactor of The Metropolitan Museum of Art, he served as its president from 1962 and as chairman of its board of trustees. Upon his death, he bequeathed nearly 3,000 works to the museum, leading to the creation of the Robert Lehman Wing, which opened in 1975 to critical acclaim from institutions like the Frick Collection.

Personal life

Lehman was married twice, first to Ruth (Leigh) Lamar in 1917, with whom he had three children; the marriage ended in divorce in 1931. In 1934, he married theatrical costume designer Lee (Lynch) Lunde. An avid sportsman, he owned a successful thoroughbred racing and breeding stable, with his horses competing in prestigious events like the Kentucky Derby and the Belmont Stakes. He was also a member of several exclusive social clubs, including the Knickerbocker Club and the Racquet and Tennis Club in New York City, and maintained residences in Paris and on the French Riviera.

Legacy

Robert Lehman's legacy is bifurcated between the financial and cultural worlds. In finance, his leadership preserved Lehman Brothers as a pillar of Wall Street for decades, until its eventual collapse during the 2008 financial crisis. Culturally, his legacy is immortalized at The Metropolitan Museum of Art, where the Robert Lehman Collection stands as a testament to his discerning eye and scholarly approach to collecting. The collection provides an unparalleled survey of European art, celebrated in exhibitions worldwide and documented in a renowned multi-volume catalogue. His philanthropic vision ensured that his private "museum within a museum" became a permanent public treasure, profoundly influencing the study and appreciation of art history.

Category:American art collectors Category:American bankers Category:Yale University alumni Category:1891 births Category:1969 deaths