Bloomberg Relationship
In January, 2008, it was reported that New York Mayor Michael Bloomberg's extensive business interests were placed in "a sort of blind trust" with Quadrangle because of Bloomberg's possible run for the presidency. Bloomberg was reported to be a friend of Rattner. Bloomberg would "continue to have control of and access to certain investment decisions." In February, 2009, when Rattner left, a report said Quadrangle would continue with its responsibilities for Bloomberg.
In February, 2010, Mayor Bloomberg "shift about $5 billion from Quadrangle into a new investment firm devoted solely to interest and that of his charitable foundation about a dozen employees of Quadrangle," it was reported. Moving to the new unit would be Alice Ruth, who had been recruited to Quadrangle for the Bloomberg job and "who had managed the personal fortune of Gordon Moore, Intel’s co-founder."
Read more about this topic: Quadrangle Group
Famous quotes containing the word relationship:
“It is possible to make friends with our children—but probably not while they are children.... Friendship is a relationship of mutual dependence-interdependence. A family is a relationship in which some of the participants are dependent on others. It is the job of parents to provide for their children. It is not appropriate for adults to enter into parenthood recognizing they have made a decision to accept dependents and then try to pretend that their children are not dependent on them.”
—Donald C. Medeiros (20th century)