People knew Deputy Mayor Dan Doctoroff would leave before the end of his boss’s term. The only questions were when, and where he would go.
The rumor mill said it would be this March, after things got squared away with the West Side rail yards and congestion pricing, and that his destination would be real estate development, or a return to the investment world, or some new venture of his own invention.
But like any good businessman–or politician—he struck early.
At a press conference that just ended announcing his departure, the mayor and Mr. Doctoroff told the story about how the deputy mayor of economic development would end up at a media company–Bloomberg L.P., as president and chairman of the management committee, to be exact.
In late October, Mr. Doctoroff took a trip to Korea with Bloomberg L.P. Chairman Peter Grauer, a friend for 20 years, to deliver a speech to a business association there. Afterwards, Mr. Grauer told Mayor Bloomberg that his right-hand man in the administration would also make a good president of his private company. The Mayor said, after clearing it first with the city Conflict of Interest Board, that he then had a chat with Mr. Doctoroff about the job.
In literally the same, breath, Mayor Bloomberg recounted how he helped recruit Mr. Doctoroff to his private company and regretted the city’s loss.
“Peter said, ‘This is the kind of guy we really need,'” the Mayor said. “And I checked with the conflict of interest board as to whether I could have a general conversation with him. They said yes. I did. I said, ‘Would you be interested?’ ‘Yes.’ ‘Talk to Grauer,’ and Grauer was the one who put together this deal and hired him. I’m sorry, I really am very sorry we lost him in the city.”
The Deputy Mayor took the job because he had wanted a position with a global, and growing, enterprise.
“There is no company in my view that meets those criteria better than Bloomberg L.P. The opportunities that it faces, I believe, are limitless, and I am looking forward to working with the extraordinary management team,” Mr. Doctoroff said. “My job will be to help them to reach that next level of growth and success.”
While he did not talk about his salary, it will almost certainly be greater than what he makes as deputy mayor, which has been $1 a year for the past six years. (Mr. Bloomberg said it was “one of the greatest bargains for the city since the purchase of Manhattan for $24.”)
Mr. Doctoroff will start his new job early next year, but he plans to hang on to some of his old roles as well. With the permission of the Conflict of Interest Board, he said he wanted to continue on as chairman of the Hudson Yards Development Corporation—the agency that is involved in rezoning the West Side and finding a developer for the rail yards—and remain involved in the Moynihan Station proposal, Hunters Point South and congestion pricing. He said that all economic development initiatives (he outlined some in an interview with The Observer early this year) would continue.
It also seems that, while Mayor Bloomberg says that he no longer plays a role in day-to-day operations in his company, he will continue to sort of be Mr. Doctoroff’s boss.
Mayor Bloomberg said that Nat Leventhal, chairman of the committee on appointments, would begin a search for Mr. Doctoroff’s replacement in City Hall.