President and CEO
Lubar & Co. | Milwaukee
David Lubar leads Lubar & Co., a Milwaukee-based family-owned private investment firm that invests in middle-market operating companies with a focus on long-term growth. He joined the business in 1983, six years after it was founded by his father, Sheldon Lubar, and has served as lead investor to more than 20 companies in various industries and stages of development. Lubar is chairman of the Ixonia Bank board and serves on the board of the Milwaukee Brewers. He is a former director of BMO Financial Corp. and Northwestern Mutual.
Education: Bachelor’s, Bowdoin College; MBA, University of Minnesota
Definition of success: “Raising happy, confident children.”
Advice for first-time leaders: “Be curious, be bold, develop relationships with mentors, have confidence in your own judgement, and be willing to change your decisions with changes in knowledge and circumstances.”
Highlights from the past 12 months: “Management decisions and actions taken in connection with formal strategic planning processes implemented over the past several years have enabled our businesses to weather the 2024 economic slowdown with minimal impact.”
Favorite movie: “‘Casablanca.’ I am a fan of the wartime storyline as well as the memorable lines and acting of Humphrey Bogart and Ingrid Bergman.”
2022 Wisconsin 275 Profile
Banking and Finance
President and CEO
Lubar & Co. | Milwaukee
David Lubar leads Lubar & Co., the Milwaukee-based private investment firm his father, Sheldon Lubar, founded in 1977. David has been with the business, which invests in middle-market operating companies, since 1983. In 2021, he was named chairman of Ixonia Bancshares, the holding company for Ixonia Bank. Lubar has sat on the boards of Northwestern Mutual Life Insurance, BMO Financial Corp., Baird Funds Inc., the Milwaukee Brewers, Froedtert Health, and other nonprofit organizations.
Education: Bachelor’s, Bowdoin College; MBA, University of Minnesota
What piece of advice has had the most significant impact on your career?
“The advice was ‘Think for yourself and trust your own judgement.’ You need to gather input and advice from others, but don’t hesitate to make your own decisions.”
What are some of your favorite destinations/places to visit?
“Hanging out on the shore of Lake Michigan in Oostburg, just 40 minutes north of Milwaukee. We read, relax, play games and have outdoor fires.”
What’s your hobby/passion?
“I love to hike in the mountains with my wife and family. We enjoy the beautiful views, being out in nature and the sense of accomplishment after a long day.”
What’s the toughest business challenge you’ve had to overcome?
“I have been involved in the start-up of several businesses, beginning with writing the business plan. It is far more challenging to start a company that has no history, no employees, customers, suppliers, infrastructure, than it is to take a going concern and double or triple its revenues. I have had successes like Lake Express ferry and failures which are no longer in business. The experience of the CEO and management team is a major determinant of success.”
What advice would you give to a young professional?
“Be curious. Ask questions. Every day is a good day to learn”
What is one thing you would change about Wisconsin to make it better?
“Wisconsin does not have a statewide initiative or referendum process which, with the signed support of a sufficient number of Wisconsin citizens, would allow for a statewide vote to determine passage of a new law or repeal of an existing law.”
Is there a nonprofit cause that has special meaning to you?
“I’ve had a very longstanding relationship as a director of Froedtert Heath and more recently also with the Medical College of Wisconsin. It’s gratifying to be part of the success of both organizations which has resulted in tremendous growth in the number of skilled physicians available to provide quality care to more and more patients in our community. Additionally, MCW is educating and graduating more Wisconsin physicians than any other medical school and continually increasing the amount of groundbreaking medical research.”
What has you most excited about the future?
“Yes, the speed of change is increasing and the number and complexity of the social, economic, environmental, political issues impacting our city, state, country and world is also increasing. Rather than be overwhelmed and depressed, it is an opportunity to make the world a better place. It begins with being kind and respectful to others, and then volunteering to help a friend, a relative or a stranger.”