Philip Lehman (November 9, 1861 – March 21, 1947) was a Jewish-Americaninvestment banker. Born in New York City to Emanuel and Pauline (née Sondheim), his father, was a co-founder of investment bank, Lehman Brothers. Philip became a partner in the family-owned firm in 1887 and was the firm's managing partner from 1901 to 1925. He was also the first chairman of the board of the Lehman Corporation. Lehman was notable as one of the first financiers to recognize the potential of issuing stock as a way for new companies to raise capital.
Lehman began collecting major artworks in 1911, the bulk of which he willed to his son Robert. His collection today forms part of the exhibition in the Robert Lehman Wing at the Metropolitan Museum of Art.