Career in Finance
At the end of 1982, Rattner left The New York Times and was recruited by Roger Altman to join the investment bank Lehman Brothers as an associate. After Lehman was sold to American Express in 1984, he followed Eric Gleacher and several colleagues to Morgan Stanley, where he founded the firm's communications group. In 1989, after Morgan Stanley filed for an IPO, he joined Lazard as a general partner and completed various deals for companies such as Viacom and Comcast. Working alongside Felix Rohatyn, Rattner became a preeminent Lazard rainmaker in the 1990s. Michel David-Weill named him the firm's Deputy Chairman and Deputy Chief Executive in 1997.
In March 2000, Rattner and three Lazard partners left the firm and founded the Quadrangle Group, which initially focused on investing a $1 billion media-focused private equity fund. Headquartered in the Seagram Building, Quadrangle grew to manage more than $6 billion across several business lines, including private equity, distressed securities, and hedge funds. The firm also hosted an annual gathering for media executives called Foursquare, where speakers included Rupert Murdoch and Mark Zuckerberg. In 2008, the firm's asset management division announced it had been selected to invest the personal assets of Rattner's close friend, the billionaire New York Mayor Michael Bloomberg.
Throughout his business career, Rattner served on several corporate boards including Cablevision, IAC/InterActiveCorp and Protection One.
Read more about this topic: Steven Rattner
Famous quotes containing the words career and/or finance:
“Like the old soldier of the ballad, I now close my military career and just fade away, an old soldier who tried to do his duty as God gave him the light to see that duty. Goodbye.”
—Douglas MacArthur (1880–1964)
“There is an enormous chasm between the relatively rich and powerful people who make decisions in government, business, and finance and our poorer neighbors who must depend on these decisions to alleviate the problems caused by their lack of power and influence.”
—Jimmy Carter (James Earl Carter, Jr.)