Peter Grauer has retired from Bloomberg LP after spending almost a quarter century in leadership roles including chairman. The change was announced this morning by Mike Bloomberg in an email to employees. 

Peter and Mike met and bonded in the mid-1990s when their daughters were both participating in competitive horse shows. Peter joined the board in 1996 and then was named Chairman in 2001 as Mike pursued a successful run for the mayorship of New York. 

During the dozen years Mike was effectively absent from the company running New York City, Peter worked first with Lex Fenwick and then Dan Doctoroff to keep Bloomberg LP on track. 

Inside the company, Grauer was known as a global ambassador, logging more trips, especially to Asia, than anyone else in senior leadership. He was the most congenial board member and most likely to pull you aside to ask how things were going. He was known for his commitment to diversity in general and women’s advancement in particular. 

Peter is arguably the most important Bloomberg executive most people outside the company have never heard of. He was — ironically for someone who traveled and represented the company so widely — a consummate insider. 

Bloomberg was effectively a second career. He had worked as a Managing Director at DLJ from 1992 to 2000 and then at Credit Suisse First Boston when it acquired the firm. He founded DLJ Merchant Banking Partners and DLJ Investment Partners.

I remember the first time I met Peter shortly after he joined Bloomberg in 2001. I was the New York Bureau Chief for Bloomberg News at the time and he spotted me in the food pantry. He ushered me into a conference room to talk. 

He introduced himself, which was charming because obviously I knew who he was and felt flattered he could identify me. He asked me what was working on and what was working and what wasn’t. And he did it in a way that suggested he really wanted to know. 

I cannot tell you how rare it is in corporate for leadership to ask questions in a direct, but open-ended way. It’s something other executives would do well to emulate. 

Peter once told me the secret to Bloomberg’s success: “People like working for winners.“

It was the kind of direct, confident and assertive statement that strikes you as both true on a deep level and something most people would feel reticent to say. 

I thought he nailed it. Bloomberg the company has succeeded not because of the terminal or data or any particular strategy, but because of its people and ambition to win, something Peter both embodied and contributed to. 

As Mike wrote in a memo to employees, he will be missed. 

Here is Mike’s memo: 

Subject: Peter Grauer

Peter Grauer has decided to retire from Bloomberg after nearly 24 years of extraordinary leadership. When he shared this news with me, I felt both sadness and deep appreciation, sadness that we’ll lose his wise presence, and appreciation for everything he’s accomplished for our company.

When I left for City Hall in 2002, I knew I could count on Peter’s sound judgment, strong values, and unwavering commitment to our people. During those years, our company grew significantly while never losing sight of our core mission. He guided us with remarkable steadiness, clear vision, and genuine heart, leaving us stronger and exceptionally well-positioned for the future.

Perhaps most importantly, Peter dedicated himself to developing the next generation of leaders throughout our organization. In recent years, he’s served as a tireless global ambassador for Bloomberg and has become a cherished mentor and friend to so many of us.

Peter’s impact on this company, and on everyone who’s had the privilege of working alongside him, will endure for years to come. We’ll miss him deeply, but we’re profoundly grateful for all he’s done to shape Bloomberg and our culture.

Please join me in thanking Peter for his extraordinary friendship and service. His note to the company is below.

Mike

From Peter Grauer:

After careful deliberation, I’ve decided to retire from Bloomberg.

When Mike asked me to join the company in 2002, I had no idea what an extraordinary journey lay ahead. Nearly 24 years later, I can say without hesitation that I’ve cherished every single day. I’m deeply grateful to Mike for this opportunity, and for the incredible company he entrusted me to lead. It’s been an absolute privilege to help guide Bloomberg through remarkable growth, continuing our streak of year-over-year revenue gains, tripling our workforce, and expanding into new markets around the world.

The people of Bloomberg have always been its heart – and the relationships we’ve built mean more to me than I can express. Since walking through these doors, I’ve been inspired by your commitment, ingenuity, and resilience. I witnessed it during the 2008 financial crisis, the 2011 Tokyo earthquake, and the pandemic, and I’ve seen it in your generosity – from building homes with Habitat for Humanity in my early days here to serving our clients across every corner of the globe. That spirit reflects the higher purpose that Mike instilled in Bloomberg from the start: bringing transparency to global markets and giving our profits to make the world a better place. It’s been the honor of a lifetime to help carry that mission forward.

I leave knowing Bloomberg is in exceptional hands, with Vlad and JP at the helm, and a leadership team fully equipped to take us into our next chapter. I’ll be here a little while longer and I hope to see many of you before I go. And while I may no longer be badging in each morning, I’ll always be cheering you on, as a friend, a supporter, and a lifelong believer in what Bloomberg can accomplish.

With deep gratitude,

Peter