Peter Grauer

Peter T. Grauer
Peter Grauer in 2012
Born Peter Thacher Grauer
October 1945[1]
Philadelphia, Pennsylvania, U.S.
Nationality American
Alma mater University of North Carolina at Chapel Hill
Harvard Business School
Occupation Chairman Bloomberg L.P.
Net worth Increase US$ 25 Million (2018)
Spouse(s) Laura McCord

Peter Thacher Grauer[2] (born October 1945) is an American businessman and entrepreneur. He has been a member of the Bloomberg L.P. board since October 1996 and was named chairman of the board in March 2001 succeeding Michael Bloomberg. Grauer joined Bloomberg full-time in his executive capacities in March 2002.[3] Prior to becoming a member of Bloomberg L.P. in 1996, Grauer was the founder of DLJ Merchant Banking Partners and Investment. He also currently serves as the lead independent director of the health-care services firm, DaVita, Inc.[4]

Personal life and education

Grauer was born in Philadelphia, PA in 1945[5] to Frederick M. Grauer and Frances Grauer (née Thacher; d. 2006).[6][7] His father, Frederick, was a retiree who previously served as the vice president of the Provident National Bank in Philadelphia.[8][2] Peter's maternal grandfather, Frank W. Thacher, was the president of the Florence Thread Co. in Riverside, New Jersey.[8] He graduated from the University of North Carolina at Chapel Hill in 1968 with a BA in English, and Harvard Business School, Program for Management Development in 1975. Prior to Chapel Hill, Peter graduated from Hotchkiss School.[9]

Professional career

Currently, Peter Grauer is chairman of the Board of Bloomberg L.P. Prior to his time at Bloomberg L.P., Grauer was the managing director and senior Partner of the investment bank Donaldson Lufkin & Jenrette from September 1992 to November 2000,[8] when DLJ was acquired by Credit Suisse First Boston. He was also the founder of DLJ Merchant Banking Partners and DLJ Investment Partners. Grauer serves as a director or trustee on a range of professional and charitable boards. He has served on the boards of more than 25 public and private companies.[10] He has been a director of DaVita, Inc, a Colorado-based healthcare company since 1994 and the lead independent director since 2003.[11]

Grauer is a member of the board of the Prostate Cancer Foundation.[12] He also serves as president of the board of trustees of the Inner City Scholarship Fund in New York City.[13] In June 2013, Grauer was appointed an Independent Non-Executive Director of Glencore plc, later rising to Senior Independent Non-Executive Director in May 2014.[14] He retired from the board in 2018.[15]

In 2014, Grauer became the founding chairman of the American chapter of the 30% Club, an international organization aimed at increasing women’s representation on corporate boards.[16]

Previously, Grauer served on the Global Advisory Board of Out Leadership, which partners with senior executives to advance LGBT equality.[17] OutStanding and the Financial Times named Grauer #4 in their 2015 list of Leading LGBT & Ally Executives, citing his active commitment to LGBT workplace inclusion in Bloomberg LP’s global offices.[18]

Grauer sits on the boards of several prominent educational institutions. He serves as the Founding Board Chair of College Advising Corps, a national nonprofit organization that supports low-income, first generation students on the path to college.[19] He is also a member of both the Board of Trustees of Rockefeller University, a global center for scientific research and education,[20] and the Emeritus Board of literacy and education nonprofit Room to Read.[21] Grauer currently serves as the Chairman Emeritus of Big Apple Circus, an award-winning New York circus performing company and community outreach organization.[22][23]

Grauer is a former member of the board of trustees of the University of North Carolina at Chapel Hill[24] and Chairman of the External Advisory Board of the Undergraduate Honors Program,[25] as well as a member of the University of North Carolina at Chapel Hill Foundation Board and the UNC Global Research Institute Board. Additionally, Grauer is the former President of the Pomfret School Board of Trustees.[26] In 2015 Grauer voted against changing the name of Saunders Hall at the University of North Carolina at Chapel Hill when an objection was raised concerning William Saunders's prominent Ku Klux Klan activity.[27]

Grauer also serves as an advisor to multiple global business institutions. Grauer sits on the advisory board of McKinsey & Company, a global management consulting firm.[28] He is a member of the International Advisory Board of BritishAmerican Business,[29] a transatlantic business network connecting leaders in New York and London. In June 2016, multinational investment firm Blackstone Group appointed Grauer to its board of directors.[30][31][32] Grauer left Blackstone board in February 2018 because of the appearance and potential of a conflict posed by Blackstone's $17.3bn deal for the financial terminals and data unit of Bloomberg rival Thomson Reuters.[33]

Bloomberg

Grauer met the founder of Bloomberg L.P., Michael Bloomberg, during equestrian shows both their daughters participated in.[34] It was not until 1996 that Grauer was asked to become a member of the Bloomberg L.P. board of directors where he was later named chairman of the board in March 2001, succeeding Michael Bloomberg.[11]

Despite the economic downturn in 2007, Grauer has been credited with bolstering the workforce at Bloomberg L.P., adding nearly 1,000 employees in 2009. Additionally, while Chairman of Bloomberg L.P, Grauer led the company to purchase BusinessWeek from McGraw-Hill being quoted as saying he would like Bloomberg to become, ‘the most influential source of news for the financial and business community.”[35][36]

In July 2011, Daniel L. Doctoroff was promoted to Bloomberg L.P.’s chief executive officer and assumed majority responsibility of the company from Grauer, who remained chairman and to whom Doctoroff continued to report.[3] Following Doctoroff’s departure from the company in September 2014, Mike Bloomberg resumed overall leadership of Bloomberg L.P., with support from Grauer and Tom Secunda.[37]

References

  1. ↑ "Director Peter T. Grauer, Chairman, Bloomberg L.P. Peter T. Grauer". CheckDirector. 15 November 2017.
  2. 1 2 "Peter T. Grauer". NNDB.
  3. 1 2 Stelter, Brian (12 July 2011). "Doctoroff Named Chief Executive Of Bloomberg L.P". The New York Times. Retrieved 20 July 2011.
  4. ↑ "Executive Profile". Bloomberg Businessweek. 20 July 2011. Retrieved 20 July 2011.
  5. ↑ "2010 Peterson Award Dinner Transcript" (PDF). The Greenwich Library. Retrieved 29 November 2011.
  6. ↑ "Francis Grauer". geni.com.
  7. ↑ "Obituary Frances Thacher Grauer". Legacy.
  8. 1 2 3 "Michael Bloomberg Funds Terrorism". Smoker History. Retrieved 10 November 2017.
  9. ↑ McFarland, Mike. "Bloomberg's Grauer becomes newest UNC trustee". UNC News. Retrieved 4 January 2012.
  10. ↑ "Grauer sworn in as newest member of Board of Trustees – University Gazette". gazette.unc.edu. Retrieved 2018-08-01.
  11. 1 2 Hofheinz, Darrell (8 July 2011). "Bloomberg exec Peter Grauer, wife buy Cummings home on El Bravo". Palm Beach Daily News. Retrieved 20 July 2011.
  12. ↑ "Peter T. Grauer". Retrieved 20 July 2011.
  13. ↑ Lajoie, Ron. "Students' Gift Made the Night at Inner-City Scholarship Dinner". Retrieved 9 January 2012.
  14. ↑ "Our Board of directors | Glencore". www.glencore.com. Retrieved 2016-05-20.
  15. ↑ "Glencore Reports Retirement Of Non-Executive Director Peter Grauer". MorningstarUK. Retrieved 2018-08-01.
  16. ↑ Anderson, Jenny. "Helena Morrissey, Aiming at Britain's Glass Ceilings, Gets Results". DealBook. Retrieved 2016-02-10.
  17. ↑ "About - Out Leadership". Out Leadership. Retrieved 2016-02-10.
  18. ↑ "2015 Leading 30 Ally Executives | Outstanding". www.out-standing.org. Retrieved 2016-02-10.
  19. ↑ "College Advising Corps | Our Work". College Advising Corps. Retrieved 2016-05-20.
  20. ↑ "The Rockefeller University » Board of Trustees and Corporate Officers". www.rockefeller.edu. Retrieved 2016-05-20.
  21. ↑ "Room to Read". www.roomtoread.org. Retrieved 2016-05-20.
  22. ↑ "Big Apple Circus | Official Website | Meet The Team". bigapplecircus.org. Retrieved 2016-05-20.
  23. ↑ "Company Overview of the Big Apple Circus". Bloomberg Business.
  24. ↑ "Membership - Board of Trustees". Board of Trustees. Retrieved 2016-05-20.
  25. ↑ "UNC Board of Trustees". UNC Chapel Hill. Retrieved 13 December 2011.
  26. ↑ "Pomfret School is pleased to announce Charlie Wilmerding P '11, '14 as its new President of the Board of Trustees". Benchmarks. 20 August 2010. Retrieved 25 October 2013.
  27. ↑ "The Board of Trustees passed three resolutions to contextualize and rename campus monuments". dailytarheel.com. 28 May 2015. Retrieved 29 May 2015.
  28. ↑ "Our Advisory Board | McKinsey Leadership Development". mld.mckinsey.com. Retrieved 2016-05-24.
  29. ↑ "International Advisory Board - BritishAmerican Business". BritishAmerican Business. Retrieved 2016-05-24.
  30. ↑ https://www.blackstone.com/media/press-releases/peter-grauer-to-join-blackstone-s-board-of-directors
  31. ↑ "Peter Grauer to Join Blackstone's Board of Directors | Business Wire". www.businesswire.com. Retrieved 2016-05-24.
  32. ↑ "Blackstone Investor Relations -". ir.blackstone.com. Retrieved 2016-05-24.
  33. ↑ https://www.ft.com/content/decfe9d6-0867-11e8-9650-9c0ad2d7c5b5
  34. ↑ Loomis, Carol (5 April 2007). "Bloomberg's Money Machine". CNN Money. Retrieved 20 July 2011.
  35. ↑ Karabell, Shellie (26 July 2010). "Taking the Lead". International Business Times. Retrieved 20 July 2011.
  36. ↑ Freeland, Chrystia (8 December 2009). "Transcript: View from the Top with Peter Grauer of Bloomberg". Financial Times. Retrieved 20 July 2011.
  37. ↑ Edgecliffe-Johnson, Andrew (2014-09-04). "Bloomberg to retake helm at data group". Financial Times. ISSN 0307-1766. Retrieved 2016-02-10.
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