

Steve Rattner – Overseeing Michael Bloomberg’s Family Office (Capital Allocators, EP.113)
Nov 18, 2019
Steve Rattner, CEO of Willett Advisors and former journalist, investment banker, and government official, shares insights from his diverse career. He discusses the intricacies of managing Michael Bloomberg's family office, emphasizing the importance of team-building and strategic investment in private equity and hedge funds. Rattner also explores China's investment landscape and the influence of political beliefs on fiduciary responsibilities. His reflections on navigating personal and political challenges add depth to his professional journey.
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From Journalist to Banker
- Steve Rattner transitioned from journalism to investment banking, seeking to "be in the arena" rather than just writing about it.
- Initially, he felt lost in banking, lacking basic finance knowledge, but learned through experience.
Similarities Between Journalism and Banking
- Investment banking and journalism share similarities, such as relationship building, information gathering (due diligence), and writing skills.
- Rattner's broader experience as a journalist proved beneficial in banking.
Entering Public Service
- Rattner's interest in public service stemmed from his journalism background in Washington.
- The 2008 financial crisis prompted him to serve in the Obama administration, despite building his firm.