Ross's

One of Mr. Ross's biggest money makers came from acquiring the bankrupt assets of several U.S. steelmakers to form International Steel Group.

Investors Balking at New Ross Fund Sabrina Willmer 2011

The 2005 sale of the steel company to Mittal Steel Group resulted in a 13-fold return on WL Ross's original investment.

Investors Balking at New Ross Fund Sabrina Willmer 2011

But Mr. Ross's advisory role to the president drew criticism from Arab governments that believed the career diplomat was too close to Israel and hadn't pressured Israeli Prime Minister Benjamin Netanyahu hard enough into making concessions, a charge the White House denied.

Obama's Top Middle East Adviser to Quit Jay Solomon 2011

Wilbur Ross Jr., chairman and chief executive officer of WL Ross & Co. Some would-be investors worried that no one else at the firm, owned by Invesco Ltd., could step in and quickly duplicate Mr. Ross's reputation, connections and investment skill if he decides to become less involved or leaves altogether.

Investors Balking at New Ross Fund Sabrina Willmer 2011

White House officials said the National Security Council has been preparing for Mr. Ross's departure for months, as he initially only committed to serve for two years.

Obama's Top Middle East Adviser to Quit Jay Solomon 2011

In 2003, Wilbur Ross's International Steel Group bought the land and other assets from Bethlehem Steel and began to sell various parcels.

A Steel Site Is Recycled Maura Webber Sadovi 2012

Gibbs and Ross met on a Brooklyn street in 1983, recognizing each other as "kindred spirits," said Mr. Ross; several years later, Mr. Gibbs joined Mr. Ross's ensemble, the Overflow.

Emancipation Proclamations (the Musical Kind) Larry Blumenfeld 2011

Finally, at Mr. Ross's behest, Sunnyside, whose recent output has been bold and impressive, took on the project.

Emancipation Proclamations (the Musical Kind) Larry Blumenfeld 2011

As part of a deal struck last month to build a new West Side office tower anchored by handbag maker Coach Inc., Mr. Ross's Related Cos. has agreed to buy Coach's existing headquarters, a 12-story brick building west of 10th Avenue that runs between 33rd and 34th streets, both companies said.

Meatpacking Site for Sale 2011

Mr. Ross's departure marks the latest in a string of exits over the past year of senior officials who have worked on the Middle East for Mr. Obama.

Obama's Top Middle East Adviser to Quit Jay Solomon 2011