(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.

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