Peter J. Solomon

Solomon was born in Manhattan, New York, on September 17, 1938, to Sidney L. Solomon, the chairman of department store chain Abraham & Straus, and Jeannette (Rabinowitz) Solomon.{{Cite news|url=https://www.nytimes.com/1978/05/09/archives/deputy-mayor-for-economics-peter-jay-solomon-harping-on-advantages.html|title=Deputy Mayor for Economics|last=Gupte|first=Pranay|date=May 9, 1978|work=The New York Times|access-date=July 15, 2019}}{{Cite news|url=https://www.nytimes.com/1975/09/26/archives/sidney-l-solomon-dead-at-73-abraham-straus-chairman.html|title=Sidney L. Solomon Dead at 73; Abraham & Straus Chairman|last=Barmash|first=Isadore|date=September 26, 1975|work=The New York Times|access-date=July 27, 2019|language=en-US|issn=0362-4331}} He attended the Collegiate School on New York's Upper West Side and graduated from Lawrenceville School, a private boarding school in Lawrenceville, New Jersey.{{Cite book|title=Wasting Time Constructively|last=Solomon|first=Peter|publisher=Pink House, LLC|year=2019|isbn=978-0578206998|pages=99}}

Solomon graduated cum laude from Harvard College in 1960,{{Cite web|url=https://quotes.wsj.com/MNRO/company-people/executive-profile/42568058|title=MNRO Company Profile & Executives - Monro Inc. - Wall Street Journal|website=quotes.wsj.com|access-date=2019-07-26}}{{Cite news|url=https://news.harvard.edu/gazette/story/2019/01/a-new-vision-for-harvards-houghton-library/|title=A new vision for Houghton Library|last=Buckley|first=Kaitlin|date=January 15, 2019|work=The Harvard Gazette|access-date=July 17, 2019}} where he majored in government, and received a Masters of Business Administration from Harvard Business School in 1963.

Solomon began his career in the statistics department of Merrill Lynch in 1958.{{Cite news |date= |title=American Museum of Natural History - Homepage |work= |url=amnh.org |access-date=2023-06-06}} He joined Lehman Brothers as an associate in the corporate finance department after graduating from business school in 1963. He became a managing director in 1971 and a member of the firm's board of directors in 1976.{{Cite news|url=https://www.nytimes.com/1984/07/26/business/business-people-new-merger-chief-named-at-shearson.html|title=New Merger Chief Named at Shearson|date=July 26, 1984|work=The New York Times|access-date=July 26, 2019|language=en-US|issn=0362-4331}}{{Cite news|url=https://www.nytimes.com/1976/09/30/archives/7-partners-relinquish-posts-on-lehman-brothers-board-seven-senior.html|title=7 Partners Relinquish Posts On Lehman Brothers Board|last=Cole|first=Robert J.|date=September 30, 1976|work=The New York Times|access-date=July 27, 2019|language=en-US|issn=0362-4331}}{{Cite web|url=https://www.bookhampton.com/event/peter-solomon-wasting-time-constructively-conversation-james-d-zirin|title=PETER SOLOMON, "WASTING TIME CONSTRUCTIVELY" IN CONVERSATION WITH JAMES D. ZIRIN|website=BookHampton|access-date=July 26, 2019}}

He also served as an adjunct professor at Columbia Business School.

In 1978, Solomon was appointed Deputy Mayor for Economic Policy and Development by New York City mayor Edward I. Koch, a position he held until 1980.{{Cite news|url=https://www.nytimes.com/1979/08/03/archives/principals-affected-by-shakeup-in-koch-administration.html|title=Principals Affected by Shake‐Up in Koch Administration|date=August 3, 1979|work=The New York Times|access-date=July 26, 2019|language=en-US|issn=0362-4331}} He was Koch’s principal advisor on taxes, ports, energy and private sector employment and commerce.{{sfnp|Solomon|2019|p=131}}{{Cite book|url=http://pjsc.magikcms.com/Tax%20guides/StateGuideWeb.pdf|title=A Guide to New York State Taxes|last=Rubin|first=Marilyn|year=2011}}

As Deputy Mayor, Solomon led negotiations to host the 1980 Democratic National Convention.{{Cite news|url=https://www.nytimes.com/1979/06/30/archives/80-convention-contract-delayed-by-some-snags-democratic-convention.html|title='80 Convention Contract Delayed by Some Snags|last=Carroll|first=Maurice|date=June 30, 1979|work=The New York Times|access-date=July 21, 2019|language=en-US|issn=0362-4331}} He also encouraged the development of movie and television studios in New York City.{{Cite book|title=Ed Koch and the Rebuilding of New York City|last=Soffer|first=Jonathan|publisher=Columbia University Press|year=2010|isbn=978-0231150323|location=New York|pages=240}}

As chairman of the Industrial & Commercial Incentive Board (ICIB), Solomon instituted reform to the real estate tax abatement system, restructuring the system to curb abuses and loopholes, while stimulating private real estate investment.{{Cite news|url=https://www.nytimes.com/1978/07/26/archives/city-citing-economic-upswing-to-take-closer-look-at-midtown.html|title=City, Citing Economic Upswing, to Take Closer Look At Midtown Commercial Buildings' Tax Abatements|last=Sterba|first=James F.|date=July 16, 1978|work=The New York Times|access-date=July 26, 2019}} He also served as chairman of New York’s Health and Hospital Corporation, managing 17 municipal hospitals.{{Cite news|url=https://www.nysun.com/new-york/solomon-saw-indias-potential-early/28487/|title=Solomon Saw India's Potential Early On|last=Gupte|first=Pranay|date=March 3, 2006|work=The Sun|access-date=July 27, 2019}}

In 1980, Solomon was appointed Counselor to the United States Treasury Secretary under President Jimmy Carter, where he oversaw the President's auto task force and industrial policy.{{Cite news|url=https://www.nytimes.com/1980/06/18/archives/solomon-leaving-city-hall-for-us-job-official-announcement-today-no.html|title=Solomon Leaving City Hall for U.S. Job|last=Haberman|first=Clyde|date=June 18, 1980|work=The New York Times|access-date=July 27, 2019}}{{Cite news|url=https://www.nytimes.com/1980/09/05/archives/koch-announces-choice-for-deputy-mayors-post.html|title=Koch Announces Choice For Deputy Mayor's Post|date=September 5, 1980|work=The New York Times|access-date=July 27, 2019|language=en-US|issn=0362-4331}}{{Cite news|url=https://www.nytimes.com/1980/08/08/archives/carter-to-stress-existing-policies-in-industry-plan-tax-incentives.html|title=Carter to Stress Existing Policies In Industry Plan|last=Cowan|first=Edward|date=August 8, 1980|work=The New York Times|access-date=July 27, 2019|language=en-US|issn=0362-4331}}

In 1981, Solomon returned to Lehman Brothers. He remained at Lehman and its successor, Shearson Lehman, until the end of the decade, becoming vice chairman of the firm, co-chair of the investment banking division and chairman of the merchant banking division.{{Cite web|url=https://dealbook.nytimes.com/2009/03/19/veteran-heathcare-bankers-join-peter-j-solomon/|title=Veteran Bankers in Health Care Join Peter J. Solomon|date=March 19, 2009|website=New York Times|language=en|access-date=July 27, 2019}}{{Cite news|url=https://www.latimes.com/archives/la-xpm-1987-02-26-fi-5991-story.html|title=Lane Named President of Shearson|date=February 26, 1987|newspaper=LA Times|access-date=July 25, 2019}}{{Cite news|url=https://www.nytimes.com/1988/05/05/business/new-position-for-solomon.html|title=New Position for Solomon|date=May 5, 1988|work=The New York Times|access-date=July 26, 2019}}

Solomon left Lehman in 1989 to found the Peter J. Solomon Company, a boutique financial advisory firm that was one of the first independent investment banks in the country.{{Cite news|url=https://www.ft.com/content/c003d782-447d-11e2-8fd7-00144feabdc0|title=The Psychiatrist of Finance|last=Gelles|first=David|date=December 16, 2012|work=The Financial Times|access-date=July 2, 2019}} The company advises public and private companies on mergers and acquisitions, capital structure and restructuring.{{Cite web|url=https://www.newsday.com/business/technology/retail-s-merger-mania-1.677044|title=Retail's merger mania|last=Weber|first=Lauren|date=March 6, 2005|website=Newsday|language=en|access-date=July 25, 2019}}

The Peter J. Solomon company's clients include Lands' End in its sale to Sears; Zagat, in its sale to Google and Office Depot and Phillips-Van Heusen Corp. (PVH) via multiple acquisitions.{{Cite news|url=https://www.marketwatch.com/story/radioshack-reportedly-has-hired-investment-bank-peter-j-solomon-2013-07-22|title=RadioShack reportedly has hired investment bank Peter J. Solomon|last=Cheng|first=Andria|date=July 22, 2013|work=MarketWatch|access-date=August 1, 2019}} While the firm was known for its focus on consumer and media clients, it has expanded into a number of other sectors including energy, infrastructure, power, renewables, media, grocery and restaurants, among others.

In 2016, Natixis, the international investment banking arm of French financial institution Groupe BPCE, acquired a 51% majority stake in the Company, which subsequently rebranded as PJ SOLOMON in 2019 and Solomon Partners in 2021.{{Cite news|url=https://www.nytimes.com/2016/02/11/business/dealbook/natixis-acquires-51-stake-in-peter-j-solomon-co.html|title=Natixis Acquires 51% Stake in Peter J. Solomon Co.|last=de la Merced|first=Michael|date=February 10, 2016|work=The New York Times|access-date=July 31, 2019}}{{Cite web|url=https://www.pjsolomon.com/2019/01/22/pj-solomon-celebrates-30th-anniversary-with-corporate-rebrand/|title=PJ Solomon Celebrates 30th Anniversary With Corporate Rebrand|date=January 22, 2019|website=PJ Solomon|access-date=July 30, 2019}}

In 2013, Solomon was appointed as the co-chairman of Governor Cuomo’s Tax Reform and Fairness Commission, charged with proposing reforms to the state’s tax code.{{Cite news|url=https://cityroom.blogs.nytimes.com/2012/12/11/cuomo-names-commissioners-to-tax-reform-panel/|title=Cuomo Names Commissioners to Tax-Reform Panel|last=Kaplan|first=Thomas|date=December 11, 2012|work=The New York Times|access-date=July 22, 2019}} He also served on the Governor’s Spending and Government Efficiency Commission, responsible for streamlining New York’s agencies and bureaucracy.{{Cite news|url=https://www.governor.ny.gov/news/governor-cuomo-announces-members-sage-commission-modernize-and-right-size-state-government|title=Governor Cuomo Announces Members of SAGE Commission to Modernize and Right-Size State Government|date=April 19, 2011|work=New York State|access-date=July 29, 2019}}

Solomon is currently a director of Monro, Inc., an automotive service company, of which he was previously the chairman from 1984 to 2007. He is a member of the Natixis International Advisory Network and the US Trust Bank of America Private Bank Advisory Committee. Previously, he served on a number of company boards, including:

• Associated Dry Goods Corporation
• BKF Capital Group, Inc.
• Centennial Cellular Corporation
• Century Communications Corp.
• Culbro Corporation
• Edison Brothers Stores, Inc.
• Esquire, Inc.
• Handyman Corporation
• Lawfin International Limited
• LIN Broadcasting Corporation
• The Miller-Wohl Company
• Office Depot, Inc.
• Phillips-Van Heusen Corporation
• The Stop & Shop Companies, Inc.
• Zagat Survey LLC

Solomon is married to the former Susan Rebell.{{Cite news|url=https://www.nytimes.com/1996/04/28/style/weddings-susan-b-rebell-peter-j-solomon.html|title=WEDDINGS: Susan B. Rebell, Peter J. Solomon|date=April 28, 1996|work=The New York Times|access-date=August 2, 2019|language=en-US|issn=0362-4331}} They have five children and twelve grandchildren.

File:Beehive model at the Richard Gilder Center for Science, Education, and Innovation.jpg]]

He is an experienced beekeeper and donated a large gift to build an insectarium bearing his name at the American Museum of Natural History.{{Cite news|url=https://nyrej.com/amnh-breaks-ground-on-383-million-230-000-s-f-richard-gilder-center|title=American Museum of Natural History breaks ground on $383 million, 230,000 s/f Richard Gilder Center|date=July 16, 2019|work=New York Real Estate Journal|access-date=July 20, 2019}} The Susan and Peter J. Solomon Family Insectarium at the American Museum of Natural History opened in May 2023 in the Museum's Richard Gilder Center for Science, Education, and Innovation. The Insectarium is a new gallery devoted to Earth's most diverse animal group with 18 live species of insects and features a large-scale, interactive model of a beehive.

Solomon’s personal foundation was established in 1987.{{Cite web|url=https://www.guidestar.org/profile/13-3384028|title=Peter and Susan Solomon Family Foundation|website=GuideStar|access-date=July 29, 2019}} He is a board member of the Memorial Sloan-Kettering Cancer Center, Memorial Hospital for Cancer and Allied Diseases and Sloan-Kettering Institute for Cancer Research. He is also a member of the Board of Overseers of Memorial Sloan-Kettering Cancer Center.{{Cite web|url=https://www.insidephilanthropy.com/wall-street-donors/peter-and-susan-solomon|title=Peter and Susan Solomon|website=Inside Philanthropy|access-date=July 16, 2019}}

Solomon is a trustee of the American Museum of Natural History, Co-Chair Emeritus with his wife of the American Friends of the Musée d'Orsay, Chairman Emeritus and director of The Manhattan Theatre Club and a trustee of the Lucius N. Littauer Foundation.

At Harvard University, Solomon donated his collection of important children’s literature and illustrations to Houghton Library. He and his wife were the primary financial contributors to the renovation of Houghton. In his honor, Harvard built a new Gate to Harvard Yard, naming it the Peter J. Solomon, Class of 1960, Gate.{{cite web |title=New gate outside Houghton Library adds another story to storied Harvard Yard |url=https://news.harvard.edu/gazette/story/2020/12/new-peter-j-solomon-gate-reveals-hidden-treasures/ |website=The Harvard Gazette |access-date=December 14, 2020}} Solomon is Chairman of the Friends of the Center for Jewish Studies at Harvard.{{Cite web|url=https://cjs.fas.harvard.edu/friends-and-donations/|title=Friends and Donors: Peter J Solomon|website=Harvard Center for Jewish Studies}} He is also a member of the Council on Foreign Relations. Previously, he was an overseer of Harvard University.{{Cite news|url=http://cjs.fas.harvard.edu/wp-content/uploads/2019/05/2018-CJS-Fall-Review_WebFinal_27Mar19.pdf|title=Happy Birthday, Peter J. Solomon!|date=April 2019|work=CJS News|page=13}}

Solomon previously served on a number of not-for-profit boards, including:

• Chairman, Hudson Guild Neighborhood House
• Vice Chair, Mt. Sinai Hospital
• Director-at-Large, Montana Land Reliance
• Director, American Rivers
• Director, National Audubon Society

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Category:1938 births

Category:Living people

Category:American investment bankers

Category:Lawrenceville School alumni

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Category:American company founders

Category:Harvard Business School alumni

Category:Merrill (company) people

Category:Lehman Brothers people