[Courtesy Brittney Werner / Le Petit Theater]

Le Petit Theatre Stages Tony Award-Winning "The Lehman Trilogy"

06:00 October 10, 2025
By: Robert Witkowski

The Rise and Fall of a Family Dynasty in Three Acts

The opening of The Lehman Trilogy starts at the end.

It's September 15, 2008, and as a gleaming New York City skyline shines through skyscraper windows, media newscasts, ticker tape display boards, and headlines announce the shocking collapse of Lehman Brothers. The family financial institution "too big to fail" was undermined during the era of the "big short," when the global economy crashed due to the failure of subprime mortgage-backed securities.

A bustling team dismantles the Lehman offices on stage, carting off computers and files. while another pries off the venerable sign off the Midtown office wall.

Lehman Brothers bankruptsy [Brittney Werner / Le Petit Theatre]

The Beginning of the End of Lehman Brothers

As the bedlam fades into darkness and the set transforms into a starker version of a Southern warehouse when the lights come back up seconds later. Leaving the anti-semitism of his native Germany, Hayum Lehmann arrives in 1844, Americanizing his name into Henry Lehman (Leslie Nipkow), establishing his business with the original version of the company's sign. When his two brothers Emanuel (Ryan Hayes) and Mayer (David Lind) join him in pre-Civil War Montgomery, Alabama—and the story of the family's end now begins.

Ben Power's adaptation of Stefano Massini's play into English has rapid fire dialogue, which engages and leads the audience through the 164 years of Lehman generations, with a step-by-step playbook of how three brothers of modest means and following generations combined forces to leverage the post-war South's reconstruction into a global financial institution.

Henry Lehman (Leslie Nipkow) begins building an empire [Brittney Werner / Le Petit Theater]

By creating the concept of wholesale by being the "middle men" between cotton growers in the South and the New York City clothing manufacturers, along with other risky innovative thinking, the trio moved the business into issuing credit over cash—a harbinger of the meteoric ascent (and downfall) in the financial world to come. The unexpected death of Henry, and even more unexpected romances fostering the next generations for the surviving siblings, forced the family to unite into a stronger force to be reckoned with, while keeping their faith in front of them.

Words, Words, Words

But the massive script that stretched the play to three hours (down from the original five-hour version in Italian) is successful due to the talents of the three actors portraying multiple roles. Beyond the three Lehman brothers, they also play their children and grandchildren, including Philip Lehman (son of Emanuel), Herbert Lehman (son of Mayer), and Robert Lehman (son of Philip). Beyond these generational roles, they often embody various minor characters as the family's history unfolds. All three play a cross-section of wives, toddlers, and business partners—regardless of gender or age, and without a costume change—wearing a tailored three-piece suit constantly evoking their 19th-century beginnings. That is a talent.

Celebrating life and giving thanks for their successes [Brittney Werner / Le Petit Theater]

While each have strong moments throughout the story, the actors are skilled enough to be on equal footing and without overpowering the others. Equally as impressive, they all are able to effortlessly draw back to let a scene or monologue stand out when appropriate.

In a show of this length with heavy dialogue, the actors' ability to convey drama, humor, pathos, and ethos over several hours, verbally and non-verbally, is impressive. To make it all seem believable as Nipkow, Hayes, and Lind do is worth experiencing.

Winning five Tony Awards, including Best Play, The Lehman Trilogy is a history lesson, cautionary tale, and relatable tale of family successes, struggles, joys, accomplishments, and heartbreak at all stages of the American experience.

The Lehman Trilogy is currently running at Le Petit Theatre, located at 616 St. Peter St., now until October 19. Tickets are available through lepetittheatre.com/events/the-lehman-trilogy.

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