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:
“Christianity as an organized religion has not always had a harmonious relationship with the family. Unlike Judaism, it kept almost no rituals that took place in private homes. The esteem that monasticism and priestly celibacy enjoyed implied a denigration of marriage and parenthood.”
—Beatrice Gottlieb, U.S. historian. The Family in the Western World from the Black Death to the Industrial Age, ch. 12, Oxford University Press (1993)