Steven Rattner American financier and shareholder Date of Birth: 05.07.1952 Country: USA

1. Biography of Steven Lawrence Rattner
2. Early Career
3. Partnership with Lazard Ltd.
4. Quadrangle Group
5. Government Advisor and Controversy
6. Legal Controversy
7. Departure from Government

Biography of Steven Lawrence Rattner

Steven Lawrence Rattner, born on July 5, 1952, is an American financier and shareholder. He was one of the four founders of the private investment group Quadrangle Group, which focused on media and communications investments worldwide. Rattner received his higher education at Brown University.

Early Career

Initially, Rattner worked as a reporter for The New York Times, first in Washington and then in London. During his time in Washington, he became friends with Arthur Sulzberger, a relative of one of the newspaper's leaders. Eventually, Rattner left journalism and joined Morgan Stanley, where he co-founded the Communications Group.

Partnership with Lazard Ltd.

In 1989, Rattner became a general partner at Lazard Ltd., where he primarily focused on media and communications. He was entrusted with important deals, including working with companies such as Viacom and Comcast. In 1997, Rattner was appointed Deputy Chairman and Chief Executive Officer of Lazard Ltd. However, in 1999, he left his high-ranking position and, in 2000, departed Lazard Ltd. along with four other partners.

Quadrangle Group

Rattner's new project, Quadrangle Group, specialized exclusively in the media market. In January 2008, it was revealed that New York City Mayor Michael Bloomberg had transferred control of his investments to Rattner. Although Bloomberg retained the right to make investment decisions, his political career left him with little time for this task. Quadrangle Group continued to manage the mayor's funds even after Rattner's departure. Bloomberg considered Rattner's move to the Department of the Treasury as an extremely successful idea.

Government Advisor and Controversy

On February 23, 2009, the Wall Street Journal reported that Rattner would become the new advisor to the Department of the Treasury for automotive industry affairs. In May 2009, after the release of Rattner's financial report, it was revealed that he had invested in Cerberus Capital Management, a provider of automotive parts and the owner of the Chrysler brand, prior to his appointment as automotive industry advisor. This raised concerns within the government, as Rattner's activities primarily revolved around Chrysler. However, it was later proven that he no longer held any shares in the company.

Legal Controversy

More recently, Rattner's private enterprise became the center of a legal dispute. The firm attracted the attention of the New York State Attorney General and the Securities and Exchange Commission. Rattner was accused of pension fund manipulation, but ultimately resolved the conflict with a ban on securities transactions for several years and a $5 million fine.

Departure from Government

On July 13, Rattner announced his departure from his government position. Administration representatives expressed satisfaction with their collaboration with the businessman but saw no reason to continue the partnership at that time.