Daniel L. Doctoroff

Daniel L. Doctoroff

Daniel L. Doctoroff in May, 2012
Born July 11, 1958
Newark, New Jersey, U.S.
Nationality American
Alma mater Harvard College
University of Chicago Law School
Occupation Businessman, Philanthropist, Politician
Known for Deputy Mayor of New York City (2001-2008)
President and CEO of Bloomberg L.P (2008-2014)
Spouse(s) Alisa Robbins Doctoroff
Website
Daniel L. Doctoroff - Bloomberg.com

Daniel L. Doctoroff (born July 11, 1958) is an American businessman and civil servant. He was promoted to CEO of Bloomberg L.P. in July 2011 after serving three years as president of the company.[1] Prior to his career at Bloomberg L.P., he was deputy mayor for economic development and rebuilding for the City of New York under Mayor Michael R. Bloomberg. He also served as president of NYC2008 and NYC2012, the organizations created to coordinate New York City's bid for the 2008 and 2012 Summer Olympics.[2][3] Lastly, Doctoroff is a member of the Committee on Capital Markets Regulation. Doctoroff announced his resignation from Bloomberg LP on September 3, 2014.

Personal life and education

Doctoroff was born in Newark, New Jersey to Martin and Allene Doctoroff and grew up in Birmingham, Michigan. He received a B.A. degree from Harvard College in 1980 and a J.D. degree from the University of Chicago Law School in 1984.[3]

After meeting at Harvard during their freshman year, Doctoroff married his wife, Alisa Robbins Doctoroff, in 1981. In 2013, she was appointed the president of the UJA-Federation of New York; previously she served as president of Congregation Or Zarua in Manhattan.[4] The couple has three children and resides in New York City.[3]

Professional career

Early career

Doctoroff began his career as an investment banker, working for Lehman Brothers in New York City. He later became managing partner at Oak Hill Capital Partners, a private equity investment firm.[5]

Olympic bid

In 1994, after attending a World Cup soccer match between Italy and Bulgaria, Doctoroff was inspired to bring such competition to New York City as host of the 2008 Olympic Games. Largely unknown in political, sporting and business circles of New York, Doctoroff connected with political consultant Robert Teeter, under whom Doctoroff worked as a Republican political pollster while he was a student at Harvard. Through Teeter, Doctoroff met with the NYC Metropolitan Transit Authority, New York City Partnership and then-mayor Rudy Giuliani and began to move forward with his plans to bring the Olympics to New York.[6]

Although the U.S. Olympic Committee decided not to pursue a U.S. bid for the 2008 Olympic Games, Doctoroff continued his efforts and formed NYC2012, shifting his focus from the 2008 to the 2012 summer games. The NYC2012 plan called for construction of new stadiums, transportation improvements and environmental clean-up efforts.[3] Although London was ultimately selected to host the 2012 summer games, Doctoroff's Olympic efforts helped catalyze longstanding infrastructure and development projects in New York such as the extension of the No. 7 subway line.[7] As a result of his involvement with NYC2012, Doctoroff was asked to join the Bloomberg administration in late 2001 as deputy mayor for economic development and rebuilding.[3]

Bloomberg administration

During his first term as deputy mayor, Doctoroff continued to focus on developing neglected areas of the cities Five-Borough Economic Opportunity Plan. In total, Doctoroff oversaw 289 separate projects and initiatives, including the rezoning of 6,000 city blocks, the creation of 130 million square feet of residential and commercial space, and 2,400 acres of new parks, including the High Line, Brooklyn Bridge Park and Governor's Island.[8] He also represented city interests in the redevelopment of Lower Manhattan after the devastation of 9/11.[7]

Doctoroff conceived of and led the team that developed PlaNYC, the 127-point plan that brought together more than 25 City agencies to make New York City more environmentally sustainable.[9] In December 2012, he argued the changes made as a result of PlaNYC helped prevent further damage to the city from Hurricane Sandy, particularly in areas designated as flood zones.[10] One of the 127 points of the plan was the introduction of Congestion pricing, which is a system of fees to discourage commuting by car.[11] Supporters, including Doctoroff, anticipated that the fees would help finance mass transit system improvements, reduce greenhouse gas emissions by 30% citywide by 2030 and reduce traffic congestion, however a study conducted by the NYC Metropolitan Transit Authority in 2007 revealed that subway lines were at capacity and could not accommodate an increase in new riders using the system.[12] Congestion pricing was eventually dismissed by New York state legislators in April 2008, claiming the fee was unfair to middle-class commuters who did not have access to mass transit.[13]

Bloomberg L.P.

Doctoroff left city politics before the congestion pricing proposal failed and became president of Bloomberg L.P. in February 2008. Under Doctoroff's leadership, Bloomberg L.P. shifted its focus from providing financial information and analysis to its network of Terminal subscribers, to building a news organization targeted to a broader business audience. These efforts included the development of a strategy to increase the readership of Bloomberg.com, the acquisition of BusinessWeek and the creation of new subscription services Bloomberg Government and Bloomberg Law.

According to the New York Times, 85 percent of Bloomberg L.P.’s revenue comes from sales of its terminals, which then helps support the subscription-based news services.[14] The news operation employs 2,300 journalists in 146 bureaus and 72 countries.[15] In an interview with the American Journalism Review, Doctoroff describes a relationship where increasing the news audience helps increase the influence of the terminals and move the company closer to its goal of being “the most influential news organization in the world.”[16]

Under Doctoroff, Bloomberg L.P. recently surpassed rival Thomson Reuters in market share[17] and is now expanding operations in countries with emerging markets, like hedge funds in Korea.[18] In the wake of the Libor scandal, Doctoroff told the European Parliament that Bloomberg LP could develop an alternative index called the Bloomberg Interbank Offered Rate that would address regulators’ concerns.[19][20][21]

Doctoroff announced his resignation from Bloomberg LP on September 3, 2014.

Philanthropy

In February 2013, Doctoroff announced that he was working with Mike Bloomberg and Carlyle Group co-founder David Rubenstein to put together a $25 million donation to support research for finding a cure to Amyotrophic lateral sclerosis (ALS). Doctoroff’s father died of ALS in 2002, and his uncle Michael died of ALS in 2010.[22]

References

  1. ↑ Stelter, Brain (12 July 2011). "Doctoroff Named Chief Executive of Bloomberg L.P.". The New York Times. Retrieved 14 August 2012.
  2. ↑ Cauvin, Henri (2 May 1997). "City's Olympic Bid In Tough Battle". New York Daily News. Retrieved 14 August 2012.
  3. ↑ 3.0 3.1 3.2 3.3 3.4 Lieber, Jill (10 May 2004). "No longer just a dreamer". USA Today. Retrieved 14 August 2012.
  4. ↑ United Jewish Appeal Federation of New York Leadership: "Alisa Robbins Doctoroff" retrieved June 26, 2014
  5. ↑ Warner, Melody (12 July 2011). "Bloomberg President Assumes Added CEO Role". The Wall Street Journal. Retrieved 14 August 2012.
  6. ↑ Lieber, Jill (10 May 2004). "No longer just a dreamer". USA Today. Retrieved 14 August 2012.
  7. ↑ 7.0 7.1 Cardwell, Diane; Charles V. Bagu (7 December 2007). "Deputy Mayor Leaving to Run Bloomberg L.P.". The New York Times. Retrieved 14 August 2012.
  8. ↑ Mahler, Jonathan (10 September 2006). "The Bloomberg Vista". The New York Times. Retrieved 14 August 2012.
  9. ↑ Koppes, Steve (3 June 2011). "Daniel Doctoroff, Myrtle Stephens Potter elected to Board of Trustees". UChicago. Retrieved 14 August 2012.
  10. ↑ Dan Doctoroff, “Without PlaNYC, Hurricane Sandy’s Devastation Would Have Been Much Worse”, “The New York Observer,” December 12, 2012
  11. ↑ Jose, Katharine (8 April 2008). "Bloomberg: Congestion Pricing Only Part of PlaNYC". New York Obeserver. Retrieved 14 August 2012.
  12. ↑ Neuman, William (26 June 2007). "Some Subways Found Packed Past Capacity". The New York Times. Retrieved 14 August 2012.
  13. ↑ "Idea of N.Y. City traffic fee runs into dead end". MSNBC. Retrieved 14 August 2012.
  14. ↑ Jeremy R. Peters, "Bloomberg Plans a Data Service on the Business of Government", "The New York Times", October 10, 2010
  15. ↑ Jodi Enda, "The Bloomberg Juggernaut ", "American Journalism Review", March 1, 2011
  16. ↑ Jodi Enda, "The Bloomberg Juggernaut ", "American Journalism Review", March 1, 2011
  17. ↑ Michael Baily, "Business the Bloomberg Way", "Financial Review", July 2, 2012
  18. ↑ Kim Mi-ju, "Hedge Funds Catch Bloomberg's Eye", "Korea JoongAng Daily", June 27, 2012
  19. ↑ Jill Treanor “Libor riggers should be jailed, says FSA regulator”, “The Guardian”, September 28, 2012
  20. ↑ Michelle Price “Libor tender puts focus on data providers”, “Financial News”, September 28, 2012
  21. ↑ Spencer Anderson “Libor role to go to private group”, “International Financing Review”, October 5, 2012
  22. ↑ Hartocollis, Anemona (6 February 2013). "With A.L.S. in Family, Chief at Bloomberg Joins Fight". The New York Times. Retrieved 8 March 2013.

External links

http://www.bloomberg.com/about/management/doctoroff/