LYCOS RETRIEVER 
Randolph Lerner
built 641 days ago
Randolph Lerner, the chairman of credit-card giant MBNA, plans to move into a two-bedroom penthouse in what many consider to be New York’s most prestigious Park Avenue address. The New York Observer on Wednesday pegged Mr. Lerner as the buyer of the $27.5 million apartment, which is at 740 Park Avenue and was was once owned by the philanthropist Enid A. Haupt.
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As Al Lerner's health worsened over the past nine months, he and Policy and Randy met several times to plan the future of the franchise. Policy said it was during this time that he developed a closer relationship with Randy.
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One of the day's biggest winners was MBNA Chairman Lerner, 43. His family's 86 million shares rose $438.4 million on the day's trading to about $2.25 billion. Lerner is the son of the legendary late Marine aviator Alfred Lerner who recently traveled to Afghanistan and Iraq to hand out Cleveland Browns football helmets to U.S. troops. Yet he nearly lost most of his management team in the crash of a company helicopter amid negotiations for Thursday's deal, an accident that left the executives unfazed.
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Lerner graduated from Columbia University in 1984, spending 1983 at Clare College in Cambridge, England. During his time at Cambridge Lerner followed English football (soccer), taking an interest in three teams: Arsenal, Fulham and Aston Villa. He graduated from Columbia Law School and is a member of the New York and District of Columbia Bar Associations. Prior to entering the business world, he worked as a lawyer in New York City.
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Lerner's appointment was confirmed on the stock exchange this afternoon after earlier confirmation he had increased his holding in the club to 89.69% of shares, just shy of the 90% required to complete a compulsory purchase for all remaining shares. Stephen Kind, Anthony Hales, David Owen and Peter Ellis ... resigned from the board of directors with effect from today.
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As The New York Times reported in January, the apartment Mr. Lerner is buying is a duplex. It has two terraces on the lower level, on the 17th floor, and a large terrace on the 18th floor, where the two bedrooms are located.
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Randolph Lerner