Michael R. Bloomberg
(Bebeto Matthews/AP Photo) (37651)

(CNN) — Former New York City Mayor Michael Bloomberg, an independent who considered his own presidential run this year, will endorse Hillary Clinton and speak at the Democratic National Convention, a senior Clinton official confirmed to CNN.

Bloomberg’s plans were first reported by The New York Times. A senior Clinton campaign official and Bloomberg adviser Marc La Vorgna confirmed his plans to CNN.

“As the nation’s leading independent and a pragmatic business leader, Mike has supported candidates from both sides of the aisle. This week in Philadelphia he will make a strong case that the clear choice in this election is Hillary Clinton,” senior Bloomberg adviser Howard Wolfson told CNN.

The move by Bloomberg — who left the Democratic Party in 2000, was elected mayor of New York City as a Republican and is now an independent — reflects his desire to see Republican nominee Donald Trump defeated.

He could boost Clinton’s efforts to reach independent voters, particularly those most concerned about the economy.

Bloomberg has allied with Democrats in recent years on several issues — particularly gun control and climate change. He has rebuked Trump over his hard-line stance on immigration.