Capital Allocators – Inside the Institutional Investment Industry [REPLAY] Steve Rattner – Overseeing Michael Bloomberg’s Family Office (Capital Allocators, EP.113)
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Oct 21, 2024 Steve Rattner, Chairman and CEO of Willett Advisors and former journalist, shares his unique journey from the New York Times to investment banking and government service. He discusses the complexities of managing Michael Bloomberg’s family office, emphasizing team building and a nuanced approach to investments in private equity and hedge funds. Rattner offers insights into navigating emerging markets like China, the challenges of corporate stewardship, and the impact of political polarization on investment strategies. Personal anecdotes add a reflective touch to his investment philosophy.
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From Journalist to Banker
- Steve Rattner transitioned from journalism to investment banking, despite lacking financial knowledge.
- He learned on the job, starting as an associate at Lehman Brothers and working his way up.
Banking and Journalism
- Investment banking and journalism share surprising similarities, like relationship building and information gathering.
- Rattner's journalism experience translated well to client interaction and due diligence.
The Carsar
- Rattner's interest in public service led him to join the Obama administration during the financial crisis.
- Despite lacking auto industry expertise, he was chosen to lead the auto industry restructuring.