Complex sentence: Lehman was born to a Jewish family in New York City, he was the son of Philip Lehman (1861--1947), cofounder of Lehman Brothers investment bank and Carrie Lauer (1865--1937).
Split into simpler sentences: Lehman was born to a Jewish family in New York City. He was the son of Philip Lehman (1861--1947), cofounder of Lehman Brothers investment bank and Carrie Lauer (1865--1937).