Kenneth Lipper
Encyclopedia
Kenneth Lipper is a prominent figure in the arts, in the world of finance, and in government. He served as New York City’s Deputy Mayor for Finance and Economic Development under Ed Koch (1983-1985), and has worked variously as a lawyer, investment banker, professor, novelist, screenwriter, Academy Award winning movie producer, hedge fund manager, book publisher, entrepreneur, and commercial real estate executive. In 2003, Lipper returned capital to investors in one of his hedge funds after a rogue employee pleaded guilty to defrauding Lipper and other investors. In November 2010, after undergoing 21 investigations and litigations over an eight year period, Lipper was awarded more than $15 million in indemnification, and a New York State Supreme Court judge noted that “none of the investigation and claims asserted against [Lipper] had resulted in a finding that he had engaged in ‘negligence, malfeasance or [a] violation of applicable law.’” The rogue employee who betrayed Lipper served 6 years in prison, and the fund's auditor was barred from the industry. On June 7, 2011, a New York State judge approved a settlement which awarded Lipper $13 million and dismissed all claims against him.
(Phi Beta Kappa) at Columbia
, his J.D.
at Harvard Law School
, his LL.M. at NYU
and did postgraduate work in law and economics at the University of Paris
.
Thereafter he was an associate with a Wall Street law firm for a year before serving as director of industry policy for the Office of Foreign Direct Investment in Washington, D.C.
. He has been associate and partner of Lehman Brothers
(1969–75) and managing director and partner at Salomon Brothers
(1976–82) before being recruited by Mayor Ed Koch
for his position as deputy mayor in charge of the budget, taxation, and economic development.
In the late 1980s, Lipper founded the investment firm Lipper & Company, which managed more than $5 billion on behalf of institutions and high-net-worth individuals. The firm’s investment banking division advised on billions of dollars of mergers and acquisitions, and was ranked the 13th largest M&A firm in 1992. Financial World Magazine ranked Lipper as the 40th highest earner on Wall Street for 1993 and 1994.
He has taught at Columbia's School of International and Public Affairs for many years and serves on the school's advisory board. His proposals for investing in America's cities by developing and supporting the entrepreneurial class have gained wide public attention.
From 2003 to 2006, Lipper served as Senior Executive Vice President at Cushman & Wakefield, Inc.
On June 21, 2011, Lipper appeared at Bloomberg's High Yield Conference in West Hollywood, California, where he discussed his opinions about the stock and bond markets, and government debt.
's award-winning film of the same name, in which Lipper himself served as technical advisor and had a brief cameo. His experience in government was the inspiration for another film, 1996's City Hall
, starring Al Pacino
, for which he served as producer and wrote the screenplay and novel. Lipper appeared on Charlie Rose, discussing his novel and movie "City Hall," in 1996. Lipper was also producer of The Winter Guest, starring Emma Thompson, and the Holocaust documentary The Last Days, for which he won an Academy Award.
In 1994, Lipper gifted $3.2 million to Harvard to establish a chair in Holocaust Studies. When Harvard refused to fill the position, Lipper transferred the money to Harvard Medical School.
Ken Lipper, City Hall (1996)
Ken Lipper, “Born in the Real World: The Two Wall Street Movies,” Wall Street: The Collector’s Edition (2010)
Education, Wall Street, and Government
Lipper earned his B.A.Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
(Phi Beta Kappa) at Columbia
Columbia College of Columbia University
Columbia College is the oldest undergraduate college at Columbia University, situated on the university's main campus in Morningside Heights in the borough of Manhattan in New York City. It was founded in 1754 by the Church of England as King's College, receiving a Royal Charter from King George II...
, his J.D.
Juris Doctor
Juris Doctor is a professional doctorate and first professional graduate degree in law.The degree was first awarded by Harvard University in the United States in the late 19th century and was created as a modern version of the old European doctor of law degree Juris Doctor (see etymology and...
at Harvard Law School
Harvard Law School
Harvard Law School is one of the professional graduate schools of Harvard University. Located in Cambridge, Massachusetts, it is the oldest continually-operating law school in the United States and is home to the largest academic law library in the world. The school is routinely ranked by the U.S...
, his LL.M. at NYU
New York University School of Law
The New York University School of Law is the law school of New York University. Established in 1835, the school offers the J.D., LL.M., and J.S.D. degrees in law, and is located in Greenwich Village, in the New York City borough of Manhattan....
and did postgraduate work in law and economics at the University of Paris
University of Paris
The University of Paris was a university located in Paris, France and one of the earliest to be established in Europe. It was founded in the mid 12th century, and officially recognized as a university probably between 1160 and 1250...
.
Thereafter he was an associate with a Wall Street law firm for a year before serving as director of industry policy for the Office of Foreign Direct Investment in Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
. He has been associate and partner of Lehman Brothers
Lehman Brothers
Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...
(1969–75) and managing director and partner at Salomon Brothers
Salomon Brothers
Salomon Brothers was a bulge bracket, Wall Street investment bank. Founded in 1910 by three brothers along with a clerk named Ben Levy, it remained a partnership until the early 1980s, when it was acquired by the commodity trading firm Phibro Corporation and then became Salomon Inc. Eventually...
(1976–82) before being recruited by Mayor Ed Koch
Ed Koch
Edward Irving "Ed" Koch is an American lawyer, politician, and political commentator. He served in the United States House of Representatives from 1969 to 1977 and three terms as mayor of New York City from 1978 to 1989...
for his position as deputy mayor in charge of the budget, taxation, and economic development.
In the late 1980s, Lipper founded the investment firm Lipper & Company, which managed more than $5 billion on behalf of institutions and high-net-worth individuals. The firm’s investment banking division advised on billions of dollars of mergers and acquisitions, and was ranked the 13th largest M&A firm in 1992. Financial World Magazine ranked Lipper as the 40th highest earner on Wall Street for 1993 and 1994.
He has taught at Columbia's School of International and Public Affairs for many years and serves on the school's advisory board. His proposals for investing in America's cities by developing and supporting the entrepreneurial class have gained wide public attention.
From 2003 to 2006, Lipper served as Senior Executive Vice President at Cushman & Wakefield, Inc.
On June 21, 2011, Lipper appeared at Bloomberg's High Yield Conference in West Hollywood, California, where he discussed his opinions about the stock and bond markets, and government debt.
The arts
Lipper triumphed in the publishing world with the success of his novel Wall Street, adapted from Oliver StoneOliver Stone
William Oliver Stone is an American film director, producer and screenwriter. Stone became well known in the late 1980s and the early 1990s for directing a series of films about the Vietnam War, for which he had previously participated as an infantry soldier. His work frequently focuses on...
's award-winning film of the same name, in which Lipper himself served as technical advisor and had a brief cameo. His experience in government was the inspiration for another film, 1996's City Hall
City Hall (film)
City Hall is a 1996 film directed by Harold Becker. Al Pacino and John Cusack star as the Mayor of New York and his idealistic deputy mayor....
, starring Al Pacino
Al Pacino
Alfredo James "Al" Pacino is an American film and stage actor and director. He is famous for playing mobsters, including Michael Corleone in The Godfather trilogy, Tony Montana in Scarface, Alphonse "Big Boy" Caprice in Dick Tracy and Carlito Brigante in Carlito's Way, though he has also appeared...
, for which he served as producer and wrote the screenplay and novel. Lipper appeared on Charlie Rose, discussing his novel and movie "City Hall," in 1996. Lipper was also producer of The Winter Guest, starring Emma Thompson, and the Holocaust documentary The Last Days, for which he won an Academy Award.
Philanthropy
Lipper has endowed scholarships in the name of his mother, Sally Lipper, at Harvard, Columbia, Princeton, and Israel’s Weizmann Institute.In 1994, Lipper gifted $3.2 million to Harvard to establish a chair in Holocaust Studies. When Harvard refused to fill the position, Lipper transferred the money to Harvard Medical School.
Books
Ken Lipper, Wall Street (1987)Ken Lipper, City Hall (1996)
Ken Lipper, “Born in the Real World: The Two Wall Street Movies,” Wall Street: The Collector’s Edition (2010)