Howard Milstein
Howard Milstein | |
---|---|
![]() At Halcyon House, Washington DC, 2015 | |
Born | May 15, 1951 |
Alma mater | Cornell University (BA) Harvard University (JD, MBA) |
Occupation(s) | Banker, real estate developer |
Spouse | Abby Sniderman |
Children | Michael Milstein |
Parent(s) | Irma Cameron Milstein Paul Milstein. |
Family | Seymour Milstein (uncle) Philip L. Milstein (cousin) |
Howard Philip Milstein (born May 15, 1951) is an American billionaire entrepreneur, innovator, real estate developer, financier, and philanthropist. Milstein is chairman, president and chief executive officer of New York Private Bank & Trust and its operating bank, Emigrant Bank, the country's largest privately-owned, family-run bank. Milstein is founding chairman of the merchant bank FriedbergMilstein. Milstein has led successful businesses across a range of sectors including real estate, banking, hospitality, marketing, finance, sports properties, and technology. He also was the chairman of the New York State Thruway Authority until November 2014 and led the procurement process for the replacement of the Tappan Zee Bridge.
Early life and education
Milstein is the elder son of Irma Milstein and the late real estate developer Paul Milstein. Milstein is a graduate of Cornell University with a B.A. in economics (1973). At Harvard University, he got law and business degrees in the JD/MBA Program (1977). He was admitted to the New York State Bar, and is a member of the Federal Bar Council and the American, New York State and New York City Bar Associations.
Career
Milstein started his career at the investment bank Warburg Paribas Becker. Milstein is chairman, president and chief executive officer of New York Private Bank & Trust and its operating bank, Emigrant Bank, the largest privately owned, family-run bank in the United States. Emigrant Bank has just under $7 billion in assets and approximately $1 billion in equity. Under Milstein's leadership, the bank created three internet banks in the United States: Dollar Savings Direct, EmigrantDirect and MySavingsDirect[1]
Milstein is chairman of Milstein Properties, a builder and investor active in both residential and commercial development primarily in New York City,[2] and chairs Milstein Brothers Real Estate, a national commercial leasing and management company in the United States, and Milford Management.
Nicklaus Companies
In 2007, Milstein acquired, through Emigrant Bank, a full partnership interest in Nicklaus Companies., LLC,[3] professional golfer Jack Nicklaus' business in golf course design, golf equipment, and licensing for clothing and other items.
Technology
In 1986, Milstein started Liberty Cable as an alternative telecommunications supplier for the Milford Plaza Hotel.[4]
Real estate
Milstein and his brother, Edward, worked with their father on numerous building projects in Manhattan. In the late 80s, the Milstein family acquired Douglas Elliman-Gibbons & Ives real estate brokerage,[5] and Milstein served as its chairman for ten years until the business was sold.[6]
Homeland security and crime prevention
Milstein is on the board of the National September 11 Memorial Foundation.[7]
Higher education
At Cornell University, Milstein is trustee and presidential counselor and overseer. He is a member of the Cornell Investment Committee and chairs its Real Estate Committee. In 2007, the Milstein family dedicated the Paul Milstein Building for the College of Architecture, Art and Planning. In October, 2017, Milstein, on behalf of the Milstein family, announced a $20 million donation for a new initiative to promote integration of technology and the humanities, a collaboration between the Cornell University College of Arts and Sciences and Cornell Tech.[8][9]
Civic/arts
In November 2010, Milstein was selected by Andrew Cuomo to be on the incoming New York governor's transition team as a member of the Committee on Economic Development & Labor.[10] In June, 2011, the New York State Senate unanimously confirmed Milstein as chair of the New York State Thruway Authority.[11]
In 2005, Milstein and EmigrantDirect deposited $1000 in the accounts of each of its customers impacted by Hurricane Katrina. An immediate gift of $1000 per household was deposited to its customers in the principally affected counties and parishes of Louisiana, Mississippi and Alabama.[12] In November 2012, Milstein and Emigrant Bank gave a gift of $2.3 million to more than 2,000 New York City First Responders who were impacted by Hurricane Sandy.[13]
In 2012, Milstein and his wife, Abby, committed to donate $8 million to the New York Public Library.[14]
Honors
In October 2016, The China Association for International Exchange of Personnel (CAIEP) gave Milstein the Marco Polo Award, the highest honor given to a non-Chinese citizen. In April, 2014, Milstein received the Insignia of Chevalier in the Legion of Honor—the French Legion of Honor.[15] In 2008, he was named the Entrepreneur of the Year by Cornell University.[16]
Publications
- The Story of Interferon, by Karl Cantell, World Scientific, 1998
- A Prophet for Our Time: An Anthology of the Writings of Rabbi Marc H. Tanenbaum, Fordham University Press, 2002
- A Guide for Immigrants in New York City, St. Martin's Press, 2004
- No Time to Wait: Overcoming Gaps in TB Research & Development, Medecins Sans Frontiere, 2008
- Lox, Stocks & Backstage Broadway: Iconic Trades of New York City, Smithsonian Scholarly Press
Personal life
He is married to Abby Sniderman Milstein;[17] they have one son, Michael.
References
- ^ New York Times, Kingson, Jennifer A., 5/5/06, "Going Online for Savings"
- ^ Crain's, Fung, Amanda, 8/10/10, "Milstein Family Plans Future after Patriarch's Death"
- ^ Wall Street Journal, 6/11/07, Frank, Robert, "The Golden Bear Roars: Nicklaus Inks New Deal"
- ^ New York Times, Fabrikant, Geraldine, 5/24/93, "Tiny Liberty Takes On Cable Giant in Manhattan"
- ^ New York Times, 12/10/89: "Douglas Elliman Sold; Milsteins Buy Firm"
- ^ New York Times, Holusha, John, 11/4/97, "2 Real Estate Firms Agree to a Merger"
- ^ "WTC Memorial Foundation, 4/17/07, "WTC Memorial Foundation Announces Major Progress in Effort to Build Memorial and Museum"
- ^ Cornell Chronicle, 10/21/17
- ^ http://news.cornell.edu/stories/2017/10/milstein-program-will-embrace-long-held-cornell-ethos
- ^ "New York Times, "Cuomo Names Transition Team", Nicholas Confessore, 11/11/10
- ^ "Governor Nominates Developer to Lead Thruway Authority", New York Times, Thomas Kaplan, 6/1/11
- ^ Katie Hafner and Claudia H. Deutsch (September 14, 2005). "When Good Will Is Also Good Business". The New York Times.
- ^ [1]
- ^ "Beneath New York Public Library, Shelving Its Past for High Tech Research Stacks", New York Times, Tom Mashberg, November 15, 2015
- ^ Embassy of France
- ^ Cornell Chronicle, 2/4/08, "Howard Milstein '73 Named Cornell's 2008 Entrepreneur of the Year"
- ^ New York Times: "Paid Notice: Deaths SNIDERMAN, ELEANORE" May 24, 2002