Howard Milstein
Encyclopedia
Howard Philip Milstein represents the third generation of one of New York's leading real estate, financial and philanthropic families. His entrepreneurial ventures include real estate, banking, hotels, marketing, and finance. Milstein is Chairman, President and Chief Executive Officer of New York Private Bank & Trust and its operating bank, Emigrant Savings Bank
. He is founding Chairman of the merchant bank
FriedbergMilstein. A scion of the prominent Milstein family, he manages the family's real estate interests and is the Chairman of Milstein Properties, Milford Management, and the Milford Agency, along with all Milstein Brothers real estate companies.
, and Chairman of its holding company, New York Private Bank & Trust. Milstein built the largest privately owned bank in the United States, with traditional savings, online banking, and private wealth management services. Today, Emigrant has more than $12.0 billion in assets and approximately $1 billion in equity. Under Milstein's leadership, the bank created two successful and innovative internet banks in the United States: Dollar Savings Direct and EmigrantDirect.
Milstein is Chairman of Milstein Properties, an investment builder active in both residential and commercial development primarily in New York City. He is also founding Chairman of the merchant bank, FriedbergMilstein, and chairs MB Real Estate, a national commercial leasing and management company in the United States.
Under his leadership, the Milstein family has made successful control investments in numerous, diverse business sectors.
' business in golf course design, golf equipment, and licensing for clothing and other items. The golf course design business has built several hundred courses around the world. Currently, Nicklaus has designed 280 of the 350 Nicklaus courses open for play in 34 countries.
and serves the unique needs of individuals and families through a network of professional personal risk managers.
which allows scalability and availability required for widely distributed applications and enables communication between different computing environments. In 1986, Milstein created Liberty Cable as an alternative telecommunications supplier for the Milford Plaza Hotel
. By the time he sold Liberty in 1997, the company had become the leading competitor to franchise cable TV in the country, with hundreds of millions in revenue.
with a B.A. in Economics summa cum laude (1973). At Harvard University
, Milstein earned both his 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.
. His parents were also involved in philanthropy with an organization of their own, The Paul & Irma Milstein Foundation. Milstein also has three siblings, Edward, Roslyn and Barbara. He is married to Abby Sniderman Milstein and they have a son, Michael.
(NYBC). NYBC supplies blood to more than 20 million people in the New York area through the 200 hospitals it serves. Milstein established the Howard P. Milstein National Cord Blood Center, the world's largest public cord blood bank
. Much of the world's cord blood research is made possible through the Program's provision of free cord blood units. The Center has also sponsored symposiums for leading cord blood and stem cell
researchers to advance the field of Cellular Therapy and Transplantation.
Milstein serves as Chairman of the Board of the American Skin Association, and he and his wife sponsor the Abby S. and Howard P. Milstein Innovation Awards for Melanoma/Non-Melanoma Skin Cancer Research. He and the Milstein family founded the Milstein Medical Research Program at Rockefeller University
, which is advancing breakthroughs in melanoma
. In addition, Milstein is an emeritus member of the National Board of the Smithsonian Institution
and provided funding for the Smithsonian History of Skin Project. Howard serves on the Board of the United Hospital Fund
and the Nicklaus Children's Health Care Foundation.
Milstein has served on the Board of the Weill Cornell Medical College since the 1990s. He and his wife, Abby, sponsored the Abby and Howard Milstein Core Facility and Program in Chemical Biology, which is focused on infectious diseases, including tuberculosis
and malaria
. The search for cures for tuberculosis was further advanced by Milstein's sponsorship of the Doctors Without Borders symposium, "No Time to Wait: Overcoming Gaps in TB Research in Drug Development."
supporting various crime prevention programs, officer training, and technology projects. He co-chaired the COPE campaign, which provides post-traumatic counseling for New York City police officers and their families affected by 9/11. Through the National Crime Prevention Council
and New York City Citizens Crime Commission, programs such as the Milstein Child Safety Center and the Milstein Criminal Justice Policy Forum were created. The Milsteins also funded D.A.R.E. (Drug Abuse Resistance Education) training, designed to educate students to resist drug abuse; funded the Hero’s Award, which provides $1,000 to civilians who have made an extraordinary intervention in a crime situation; and via Emigrant Savings Bank, created the Double Duty Award for individuals serving in both the military and law enforcement. On the tenth anniversity of 9/11, Milstein supported the publication of Art for the Heart: Remembering 9/11.. Art for the Heart compiles artwork created by children who lost a parent on September 11. The book was published in association with the National September 11 Memorial and Museum, on whose board Howard sits, and will benefit the Museum. On September 22, 2011, Milstein led a ceremony to dedicate “The Kneeling Fireman”, a memorial to all first responders and victims of terrorist attacks.. The statue was placed in front of the Emigrant Savings Bank building on East 43rd Street in New York City.
He has served on the Governor’s Real Estate Advisory Council, New York City’s Advisory Commission on the Homeless, New York State Advisory Committee for the Preparation of a Land Development Guide, and as an advisor to the Commissioner of New York’s Department of Housing, Preservation and Development. In November of 2010, Milstein was selected by Andrew Cuomo
to be on the incoming governor's transition team as a member of the Committee on Economic Development & Labor . In June, 2011, the New York State Senate unanimously confirmed Milstein as Chair of the New York State Thruway Authority. . As Chair, Milstein's responsibilities include overseeing the state’s 570-mile Thruway system and 525-mile canal system, including the Erie Canal.
In addition to the Milstein Family’s creation of the Milstein Hall of Ocean Life and the Milstein Hall of Large Mammals at the American Museum of Natural History
, Milstein supports programming and sponsored the Milstein Science Symposium in the Center for Biodiversity and Conservation.
Milstein also supports the Tanenbaum Center for Interreligious Understanding, where he is a founding member of the Leadership Council and was honored with the Corporate Bridge Builder Award.
The Emigrant Savings Bank has a long relationship and history of support with the Catholic Church in New York City. Milstein served as an advisor to HE Edward Cardinal Egan and the Milstein family and Emigrant Bank remain major supporters of the New York Archdiocese. In addition, Milstein has been honored or served as Chair at numerous events for the Catholic Church.
.
In addition, Milstein is a member of the Chief Executives Organization and the World Presidents Organization (WPO), and is a Commandeur of the Confrérie des Chevaliers du Tastevin
.
in London and sponsors the Milstein Medal, which provides support for the advancement of music education for talented young musicians.
and B’nai B’rith Youth Services, the Catholic Youth Organization Gold Medal Award, Emerald Isle Immigration Society Robert Briscoe Award, Federal Law Enforcement Foundation Humanitarian Award, and Greater Harlem Chamber of Commerce Community Service Award. Howard was honored as the 2008 Entrepreneur of the Year by Cornell University.
Emigrant Savings Bank
Emigrant Savings Bank is the oldest savings bank in New York City and the largest privately owned bank in the country. , Emigrant has 35 branches located in the New York metro area and has assets of $14.3 billion...
. He is founding Chairman of the merchant bank
Merchant bank
A merchant bank is a financial institution which provides capital to companies in the form of share ownership instead of loans. A merchant bank also provides advisory on corporate matters to the firms they lend to....
FriedbergMilstein. A scion of the prominent Milstein family, he manages the family's real estate interests and is the Chairman of Milstein Properties, Milford Management, and the Milford Agency, along with all Milstein Brothers real estate companies.
Career
Milstein started his career at the investment bank Warburg Paribas Becker. Today, he is Co-Chairman, President and Chief Executive Officer of Emigrant Savings BankEmigrant Savings Bank
Emigrant Savings Bank is the oldest savings bank in New York City and the largest privately owned bank in the country. , Emigrant has 35 branches located in the New York metro area and has assets of $14.3 billion...
, and Chairman of its holding company, New York Private Bank & Trust. Milstein built the largest privately owned bank in the United States, with traditional savings, online banking, and private wealth management services. Today, Emigrant has more than $12.0 billion in assets and approximately $1 billion in equity. Under Milstein's leadership, the bank created two successful and innovative internet banks in the United States: Dollar Savings Direct and EmigrantDirect.
Milstein is Chairman of Milstein Properties, an investment builder active in both residential and commercial development primarily in New York City. He is also founding Chairman of the merchant bank, FriedbergMilstein, and chairs MB Real Estate, a national commercial leasing and management company in the United States.
Under his leadership, the Milstein family has made successful control investments in numerous, diverse business sectors.
Nicklaus Cos.
In 2007, Milstein acquired a full partnership interest in Nicklaus Cos., LLC, legendary professional golfer Jack NicklausJack Nicklaus
Jack William Nicklaus , nicknamed "The Golden Bear", is an American professional golfer. He won 18 career major championships on the PGA Tour over a span of 25 years and is widely regarded as one of the greatest professional golfers of all time. In addition to his 18 Majors, he was runner-up a...
' business in golf course design, golf equipment, and licensing for clothing and other items. The golf course design business has built several hundred courses around the world. Currently, Nicklaus has designed 280 of the 350 Nicklaus courses open for play in 34 countries.
Financial
Fine Art Capital, an affiliate of New York Private Bank & Trust, brings together experts in art and banking and offers financing programs designed for individuals, art dealers and advisors, private wealth managers, and trust & estate professionals. Galatioto Sports Partners is an affiliate of New York Private Bank & Trust, a specialized investment bank and advisory firm that focuses on providing advisory services and capital to the sports industry. Personal Risk Management Solutions is an affiliate of New York Private Bank & Trust, which specializes in personal lines of insuranceInsurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
and serves the unique needs of individuals and families through a network of professional personal risk managers.
Technology
Peer Logic is a technology provider that offered message-oriented middlewareMiddleware
Middleware is computer software that connects software components or people and their applications. The software consists of a set of services that allows multiple processes running on one or more machines to interact...
which allows scalability and availability required for widely distributed applications and enables communication between different computing environments. In 1986, Milstein created Liberty Cable as an alternative telecommunications supplier for the Milford Plaza Hotel
Milford Plaza Hotel
The 1,300-Room Milford Plaza Hotel was the largest hotel in New York City when it opened in 1928. This historic Manhattan hotel remains among the largest New York City hotels in the heart of the Theater District, one block from NYC's Times Square. As of 2011, it is owned by the Ramada hotel chain....
. By the time he sold Liberty in 1997, the company had become the leading competitor to franchise cable TV in the country, with hundreds of millions in revenue.
Real Estate
Milstein and his brother, Edward, worked with their father on numerous iconic building projects in Manhattan. In the late 80s, the Milstein family acquired Douglas Elliman-Gibbons & Ives real estate brokerage, and Howard served as its chairman for ten years until the business was sold. Today, the Milsteins’ real estate portfolio and development activities are managed through Milstein Properties, directly undertaking construction and improvements and providing property management, advertising, sales, and leasing.Education
Milstein is a graduate of Cornell UniversityCornell University
Cornell University is an Ivy League university located in Ithaca, New York, United States. It is a private land-grant university, receiving annual funding from the State of New York for certain educational missions...
with a B.A. in Economics summa cum laude (1973). At Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
, Milstein earned both his 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.
Personal background
Milstein is the elder son of Irma Milstein and the late real estate titan Paul MilsteinPaul Milstein
Paul Milstein was a real estate developer and philanthropist.Born in New York City he attended DeWitt Clinton High School and the New York University School of Architecture. The family enterprises began with Morris Milstein, who emigrated to the United States from Russia and founded Circle Floor...
. His parents were also involved in philanthropy with an organization of their own, The Paul & Irma Milstein Foundation. Milstein also has three siblings, Edward, Roslyn and Barbara. He is married to Abby Sniderman Milstein and they have a son, Michael.
Civic and Philanthropic Leadership
Milstein provides leadership and generous support for a broad range of communal, educational and civic activities through his own philanthropic organization, The Howard and Abby Milstein Foundation, which he and his wife run. Milstein is a proponent of "venture philanthropy", which he defines as applying business principles, experience, and an entrepreneurial approach to philanthropic work and the organizations he serves. Milstein provides leadership to a number of organizations promoting medical research, law enforcement/counter-terrorism, disaster relief, education, the arts and communal giving.Medical Research and Healthcare
Milstein is Chairman of the Board of the New York Blood CenterNew York Blood Center
New York Blood Center bills itself as the "nation's largest, community-based, non-profit, independent blood center." Founded in 1964, it relies upon a staff of 2,000 workers and a much smaller permanent staff in order to supply over 200 hospitals in New York and New Jersey with a source of whole...
(NYBC). NYBC supplies blood to more than 20 million people in the New York area through the 200 hospitals it serves. Milstein established the Howard P. Milstein National Cord Blood Center, the world's largest public cord blood bank
Cord blood bank
A cord blood bank is a facility which stores umbilical cord blood for future use. Both private and public cord blood banks have developed since the mid- to late-1990s in response to the potential for cord blood transplants in treating diseases of the blood and immune systems.Public banks accept...
. Much of the world's cord blood research is made possible through the Program's provision of free cord blood units. The Center has also sponsored symposiums for leading cord blood and stem cell
Stem cell
This article is about the cell type. For the medical therapy, see Stem Cell TreatmentsStem cells are biological cells found in all multicellular organisms, that can divide and differentiate into diverse specialized cell types and can self-renew to produce more stem cells...
researchers to advance the field of Cellular Therapy and Transplantation.
Milstein serves as Chairman of the Board of the American Skin Association, and he and his wife sponsor the Abby S. and Howard P. Milstein Innovation Awards for Melanoma/Non-Melanoma Skin Cancer Research. He and the Milstein family founded the Milstein Medical Research Program at Rockefeller University
Rockefeller University
The Rockefeller University is a private university offering postgraduate and postdoctoral education. It has a strong concentration in the biological sciences. It is also known for producing numerous Nobel laureates...
, which is advancing breakthroughs in melanoma
Melanoma
Melanoma is a malignant tumor of melanocytes. Melanocytes are cells that produce the dark pigment, melanin, which is responsible for the color of skin. They predominantly occur in skin, but are also found in other parts of the body, including the bowel and the eye...
. In addition, Milstein is an emeritus member of the National Board of the Smithsonian Institution
Smithsonian Institution
The Smithsonian Institution is an educational and research institute and associated museum complex, administered and funded by the government of the United States and by funds from its endowment, contributions, and profits from its retail operations, concessions, licensing activities, and magazines...
and provided funding for the Smithsonian History of Skin Project. Howard serves on the Board of the United Hospital Fund
United Hospital Fund
In the late 19th century several prominent American industrialists of the , sometimes called "Robber barons", among them J. P. Morgan, George Maccullogh Miller, , Cornelius Vanderbiltformed a charity organization that was originally referred to the Hospital Saturday and Sunday Association...
and the Nicklaus Children's Health Care Foundation.
Milstein has served on the Board of the Weill Cornell Medical College since the 1990s. He and his wife, Abby, sponsored the Abby and Howard Milstein Core Facility and Program in Chemical Biology, which is focused on infectious diseases, including tuberculosis
Tuberculosis
Tuberculosis, MTB, or TB is a common, and in many cases lethal, infectious disease caused by various strains of mycobacteria, usually Mycobacterium tuberculosis. Tuberculosis usually attacks the lungs but can also affect other parts of the body...
and malaria
Malaria
Malaria is a mosquito-borne infectious disease of humans and other animals caused by eukaryotic protists of the genus Plasmodium. The disease results from the multiplication of Plasmodium parasites within red blood cells, causing symptoms that typically include fever and headache, in severe cases...
. The search for cures for tuberculosis was further advanced by Milstein's sponsorship of the Doctors Without Borders symposium, "No Time to Wait: Overcoming Gaps in TB Research in Drug Development."
Homeland Security and Crime Prevention
Milstein serves on the Board of the National September 11 Memorial Foundation. He has worked closely with the New York City Police DepartmentNew York City Police Department
The New York City Police Department , established in 1845, is currently the largest municipal police force in the United States, with primary responsibilities in law enforcement and investigation within the five boroughs of New York City...
supporting various crime prevention programs, officer training, and technology projects. He co-chaired the COPE campaign, which provides post-traumatic counseling for New York City police officers and their families affected by 9/11. Through the National Crime Prevention Council
National Crime Prevention Council
The National Crime Prevention Council is an American educational nonprofit organization in Washington, DC whose mission is to enable people to create safer and more caring communities by addressing the causes of crime and violence and reducing the opportunities for crime to occur.The NCPC is...
and New York City Citizens Crime Commission, programs such as the Milstein Child Safety Center and the Milstein Criminal Justice Policy Forum were created. The Milsteins also funded D.A.R.E. (Drug Abuse Resistance Education) training, designed to educate students to resist drug abuse; funded the Hero’s Award, which provides $1,000 to civilians who have made an extraordinary intervention in a crime situation; and via Emigrant Savings Bank, created the Double Duty Award for individuals serving in both the military and law enforcement. On the tenth anniversity of 9/11, Milstein supported the publication of Art for the Heart: Remembering 9/11.. Art for the Heart compiles artwork created by children who lost a parent on September 11. The book was published in association with the National September 11 Memorial and Museum, on whose board Howard sits, and will benefit the Museum. On September 22, 2011, Milstein led a ceremony to dedicate “The Kneeling Fireman”, a memorial to all first responders and victims of terrorist attacks.. The statue was placed in front of the Emigrant Savings Bank building on East 43rd Street in New York City.
Higher Education
At Cornell University, Howard 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, adding an impressive and transformational structure for the Cornell campus. Howard has taught real estate development as a Visiting Professor at Cornell’s College of Architecture, serves on the Dean’s Advisory Board of the College of Arts and Sciences, and is a Founding member of The Cornell Club of New York. Howard also supports Milstein Fellows and Milstein Scholars at Cornell. Howard serves on the Executive Committee of the Dean’s Advisory Board of Harvard Law School.Civic/Arts
Milstein serves on the Boards of the Thomas Jefferson Foundation and the Shakespeare Theatre in Washington, D.C. He is a former Trustee of the Corcoran Museum of Art, and is an International Trustee of the Musical Arts Association of Cleveland.He has served on the Governor’s Real Estate Advisory Council, New York City’s Advisory Commission on the Homeless, New York State Advisory Committee for the Preparation of a Land Development Guide, and as an advisor to the Commissioner of New York’s Department of Housing, Preservation and Development. In November of 2010, Milstein was selected by Andrew Cuomo
Andrew Cuomo
Andrew Mark Cuomo is the 56th and current Governor of New York, having assumed office on January 1, 2011. A member of the Democratic Party, he was the 64th New York State Attorney General, and was the 11th United States Secretary of Housing and Urban Development...
to be on the incoming governor's transition team as a member of the Committee on Economic Development & Labor . In June, 2011, the New York State Senate unanimously confirmed Milstein as Chair of the New York State Thruway Authority. . As Chair, Milstein's responsibilities include overseeing the state’s 570-mile Thruway system and 525-mile canal system, including the Erie Canal.
In addition to the Milstein Family’s creation of the Milstein Hall of Ocean Life and the Milstein Hall of Large Mammals at the American Museum of Natural History
American Museum of Natural History
The American Museum of Natural History , located on the Upper West Side of Manhattan in New York City, United States, is one of the largest and most celebrated museums in the world...
, Milstein supports programming and sponsored the Milstein Science Symposium in the Center for Biodiversity and Conservation.
Heritage/Religion
Milstein has co-chaired the annual campaign for the UJA/Federation of New York and serves on the Board. He is Chairman Emeritus of UJA’s New York Metro Jewish Leadership Forum and a dedicated and long time Trustee of JASA (Jewish Association for Services for the Aged).Milstein also supports the Tanenbaum Center for Interreligious Understanding, where he is a founding member of the Leadership Council and was honored with the Corporate Bridge Builder Award.
The Emigrant Savings Bank has a long relationship and history of support with the Catholic Church in New York City. Milstein served as an advisor to HE Edward Cardinal Egan and the Milstein family and Emigrant Bank remain major supporters of the New York Archdiocese. In addition, Milstein has been honored or served as Chair at numerous events for the Catholic Church.
Business/Real Estate
Milstein has served as a member of the Board of the Economic Club of New York and is a member of the Executive Committee of the Real Estate Board of New York. Howard is a member of the Real Estate Forum of the Columbia University Business School and the Real Estate Roundtable. He has served on the Board of the Grand Central PartnershipGrand Central Partnership
The Grand Central Partnership manages the Grand Central Business Improvement District, one of the largest business improvement districts in the world, comprising of commercial space in a 70-block area of Midtown Manhattan with irregular borders reaching from East 35th Street to East 54th Street...
.
In addition, Milstein is a member of the Chief Executives Organization and the World Presidents Organization (WPO), and is a Commandeur of the Confrérie des Chevaliers du Tastevin
Confrérie des Chevaliers du Tastevin
Originally founded in 1703 as the Ordre de la Boisson , and resurrected under its current name in 1934, the Confrérie des Chevaliers du Tastevin is an exclusive club of Burgundy wine enthusiasts...
.
International Philanthropy
In the U.K., Howard is a Fellow of the Duke of Edinburgh’s Award World Fellowship. He is President of the William Smith International Performance Scholarship at the Royal College of MusicRoyal College of Music
The Royal College of Music is a conservatoire founded by Royal Charter in 1882, located in South Kensington, London, England.-Background:The first director was Sir George Grove and he was followed by Sir Hubert Parry...
in London and sponsors the Milstein Medal, which provides support for the advancement of music education for talented young musicians.
Honors
Among many honors, Milstein has received the JASA Man of the Year Award, Make a Wish Foundation Award, ORT Community Builder Award, Tanenbaum Center Corporate Bridge Builder Award, awards from the Jewish National FundJewish National Fund
The Jewish National Fund was founded in 1901 to buy and develop land in Ottoman Palestine for Jewish settlement. The JNF is a quasi-governmental, non-profit organisation...
and B’nai B’rith Youth Services, the Catholic Youth Organization Gold Medal Award, Emerald Isle Immigration Society Robert Briscoe Award, Federal Law Enforcement Foundation Humanitarian Award, and Greater Harlem Chamber of Commerce Community Service Award. Howard was honored as the 2008 Entrepreneur of the Year by Cornell University.
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. TanenbaumMarc H. TanenbaumThe late Rabbi Marc H. Tanenbaum was an internationally renowned human rights and social justice activist who is best known for building bridges with other faith communities to advance mutual understanding and cooperation and to eliminate entrenched stereotypes, particularly those rooted in...
, 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