Henry Lehman | |
|---|---|
| Born | Hayum Lehmann September 29, 1822 |
| Died | November 17, 1855 (aged 33) New Orleans, Louisiana United States |
| Other names | Hayum Lehmann |
| Occupation | Merchant |
| Known for | co-founder ofLehman Brothers |
| Spouse | Rosa Wolf |
| Children | Bertha Lehman Rosenheim Harriet Lehman Weil David Lehman Meyer H. Lehman |
| Relatives | Lehman family |
| Family | Mayer Lehman (brother) Emanuel Lehman (brother) |
Henry Lehman (bornHayum Lehmann; September 29, 1822 – November 17, 1855)[1] was a German-born American businessman and the founder ofLehman Brothers, which grew from a cotton and fabrics shop during his life to become a large finance firm under his brothers' descendants.
Lehman was born under the name of Hayum Lehmann to aJewish family,[2] the son of Eva (Rosenheim) and Abraham Lehmann, a cattle merchant in the smallFranconian town ofRimpar nearWürzburg.[3] Lehman emigrated to the United States in 1844, where he changed his name to Henry Lehman.[4] He settled inMontgomery, Alabama, and opened a dry goods store named, "H. Lehman".[5] In 1847, following the arrival of his younger brotherEmanuel Lehman, the firm became, "H. Lehman and Bro." With the 1850 arrival ofMayer Lehman, the youngest brother, the firm became "Lehman Brothers".
In those years, cotton was the most important crop of the Southern United States. Capitalizing on cotton's extremely high market value around the world, the Lehman brothers becamecotton factors, accepting cotton bales from customers as payment for their merchandise. They eventually began a second business as traders in cotton.[5] The company directly dealt with cotton farmers. Lehman, particularly, presented himself as a friend to the farmers, who believed that the banks only lend money to merchants and middlemen.[6] He bartered with skills that he learned from dealing with farmers in the Bavarian countryside and accepted cotton as payment for borrowed money.[6] Within a few years, this became the major part of their firm. It was described as a very prosperous venture, running a very successful warehouse.[7]
In 1855, Henry Lehman died fromyellow fever while travelling inNew Orleans.[8] Later, his brothers moved the company's headquarters to New York City, eventually building it into an important American investment bank, which was in operation for over 150 years until itsSeptember 15, 2008, collapse.
