as an associate. After Lehman was sold to American Express in 1984, he followed his boss Eric Gleacher and several colleagues to Morgan Stanley, where he founded the firm's communications group. In 1989, after Morgan Stanley filed for an initial public offering, he joined Lazard as a general partner and with Lazard colleagues advised on numerous deals for large media conglomerates such as Viacom and Comcast. Alongside Felix Rohatyn, Rattner became Lazard's top rainmaker in the 1990s. Michel David-Weill named him the firm's deputy chairman and deputy chief executive in 1997. Private equity career In March 2000, Rattner and three Lazard partners, including Joshua Steiner, left the firm and founded the Quadrangle Group. They initially focused on investing a $1 billion media-focused private equity fund. Early investors in Quadrangle included Sulzberger, and Mort Zuckerman. Headquartered in the Seagram Building, Quadrangle grew to manage more than $6 billion across several business lines, including private equity, distressed securities, and hedge funds. The firm also hosted an annual gathering for media executives called Foursquare, where speakers included Rupert Murdoch and Mark Zuckerberg. In 2008, the firm's asset management division was selected to invest the personal and philanthropic assets of New York Mayor Michael Bloomberg, Rattner's close friend. Throughout his business career, Rattner has served on several corporate boards, including Cablevision, IAC/InterActiveCorp, and Protection One. Public service During his tenure with The New York Times in Washington D.C., Rattner developed an interest in economic policy, drawing him to politics and public service. In the mid-1990s, he began to work actively on behalf of Democratic candidates, beginning with President Bill Clinton. In February 2009, with General Motors and Chrysler insolvent, Rattner was appointed counselor to the United States Secretary of the Treasury and lead auto adviser, a role informally referred to in the media as the "car czar". He soon assembled a team that grew to 14 professionals to address the financial problems of the two auto companies. Reporting to both Treasury Secretary Timothy Geithner and Lawrence Summers, the head of the National Economic Council, Rattner's team developed a plan to save both the two manufacturers and related suppliers and finance companies. The plan involved a government investment of $82 billion in the sector, coupled with controlled bankruptcies for the two auto companies, as well as new management for both, and the closure of 2,000 automobile dealerships and loss of tens of thousands of related