[4][5][6] In February 2010, Bloomberg decided to form his own investment firm, Willett Advisors, which would be devoted solely to his interest and that of his charitable foundation.

The relocation of his fortune was speculated to fund his future presidential run by being able to take bigger risks with investments.

In April that year, it was reported that Rattner who had left the government in July 2009 was chosen to run and build Willett.

The firm was based at the Stuyvesant Fish House alongside Bloomberg Philanthropies, but as of 2023[update], is located at 650 Madison Avenue.

[7][8][6][9][10][11][12] In March 2017, Ruth stepped down from the position of CIO and was replaced by Brad Briner and Andrew Mulderry who would take over the public and private market investments respectively.