Bloomberg LP, the global business and financial information, analytics and media company, announced today an evolution of its senior management team. Effective August 1, Daniel L. Doctoroff will become Chief Executive Officer and President of Bloomberg and will manage all aspects of the day-to-day operations of the company.
Doctoroff will continue to report to Bloomberg Chairman, Peter T. Grauer, who said, "One of the critical elements of Bloomberg's remarkable growth over the past 30 years has been our capacity to evolve to meet changing internal and external needs and opportunities. In addition to our very successful core businesses, the Bloomberg Terminal and Bloomberg News, we have started 8 new businesses just in the past few years. Dan is perfectly suited to manage our increasingly diversified business model."
Grauer will continue to serve as Chairman, a role he has held for 10 years. In this capacity, he will manage high-level customer, government and other external relationships and will oversee Bloomberg's Legal, Compliance, Security, Talent Development, Sustainability and Philanthropy functions.
Doctoroff, who currently serves as President of the company, commented, "Over the past three years, the pace of change in the markets and in our organization has been extraordinary. Bloomberg has invested aggressively to capitalize on the disruptions and opportunities that we have seen emerge. As a result, we now have a more complex, and still uniquely interdependent, web of businesses within the company. I look forward to working with Peter and the rest of my Bloomberg colleagues to lead the company during this exciting new chapter in the Bloomberg success story."
Bloomberg has grown every year since its founding 30 years ago and achieved record financial performance in 2010.
Grauer and Doctoroff also announced that Thomas F. Secunda has been appointed as a Vice Chairman of the firm. Secunda currently manages Bloomberg's largest business unit, Financial Products, and is also the leader of the company's Research and Development Team. Secunda was one of the four original founders of Bloomberg LP.
Grauer and Doctoroff said, "Tom Secunda has been at the forefront of Bloomberg's remarkable rise in the past 30 years. Other than our name founder, no one has been more responsible for our success. He continues to be our top product strategist and the embodiment of the Bloomberg culture of hard work and innovation on behalf of our customers."
Grauer, before coming to Bloomberg full-time in 2002, was a Senior Partner at CSFB Private Equity and a Managing Director of Donaldson, Lufkin & Jenrette. Doctoroff, who joined Bloomberg in January 2008, was previously Deputy Mayor of New York City for Economic Development, Manager Partner of Oak Hill Capital Partners and an investment banker at Lehman Brothers. Before helping to found Bloomberg in 1982, Secunda was a fixed income trader at Morgan Stanley and worked in system research at Salomon Brothers.