Richard Bressler, the former chief financial officer of both Time Warner and Viacom, has joined Boston-based private equity powerhouse Thomas H. Lee Partners.
Bressler, 48, will be a managing director and head of the firm’s strategic resource group. He’ll be one of 13 senior partners at the firm.
Bressler joined Viacom in 2001 and left last year after the company unveiled its plans to split in two. Previously, he spent 13 years at Time Warner.
Before joining Time Inc. in 1988, Bressler had been a partner at Ernst & Young.
Thomas H. Lee co-prexy Scott Sperling cited Bressler’s media background as the firm seeks new investments in the sector. Media and entertainment companies have become a hot commodity for private equity with cash to burn. Thomas H. Lee is a part owner of Warner Music, where Bressler sits on the board of directors.
“After many years on the corporate side, this is a compelling opportunity for me to invest as a principal,” Bressler said.
“I think the attraction to me for the firm, and I for them, is that at the center of the complex companies (like TW, Viacom) I worked with divisional CEOs for growth and to increase the profitability of their businesses,” Bressler told Daily Variety. The idea is to do the same with Thomas H. Lee’s portfolio of assets.
Bressler said he’d be based in Boston but would travel frequently to New York and overseas.