World News – US – Wall Street executive Ray McGuire enters NOuiC Mayor’s Race


Business leaders encouraged Mr. McGuire for the Democratic candidacy, saying his track record would help the city and its economy recover from the pandemic

For several months, as the pandemic has worsened New York’s financial outlook, business leaders have sought one of their own to run for mayor next year

They offered their support and raised the possibility of making tens of millions of dollars in campaign donations for the right candidate, someone more supportive of the business community than current Mayor Bill de Blasio , and having the financial knowledge necessary to keep the city solvent

Raymond J McGuire, one of Wall Street’s highest-ranking and longest-serving black executives, will announce Thursday he is stepping down from his Citigroup job to prepare for a Democratic mayoral bid just eight months before the primary

Mister McGuire, 63, vice president of Citigroup, has been pondering a potential run for months despite being well known in the financial world – he was one of three finalists in 2018 to become president of the Federal Reserve Bank of New York it is much less known to voters, who must be persuaded to support a candidate for the first time over more established rivals

He will also have to raise funds in a short period of time; Mr McGuire said he would not participate in the city’s matching campaign fundraising system, allowing him to accept larger donations

As New York City grapples with simultaneous crises that deeply touch his character and intensity, Mr. McGuire thinks he’s better suited than his rivals to guide a recovery

The city faces the loss of at least $ 9 billion in tax revenue over the next two fiscal years, which could lead to the layoff of tens of thousands of city workers The city also faces a National police judgment discriminatory, as shootings and homicides have increased in recent months

â ???? New York gave me the opportunity to have huge success, â € “ Mr McGuire said in an interview Now New York is in a financial crisis that has exploded into a bunch of crises education, health and criminal justice If there’s a time in history where my skills can help lead, this is itâ ????

During the past 18 months, Mr. McGuire said his business peers tried to persuade him to run for William M Lewis Jr, co-chairman of investment banking at Lazard, said M McGuire had a unique understanding of the importance of black lives but also the financial crisis facing the city

– We need someone who will walk into the room and say, « Let me see the spreadsheets, and let’s deal with the current crisis, »? ???a???? says M Lewis, who knew M McGuire since they were undergraduates at Harvard – We need someone who can get their hands on that budget, talk to DC and help us get more money We need someone who will say that everyone has to pay their fair share ????

Mr. McGuire joins a growing field of declared and probable candidates, including Brooklyn Borough President Eric Adams; Scott M Stringer, the city controller; Dianne Morales, former nonprofit executive; a former Federal Housing Secretary, Shaun Donovan; Maya Wiley, civil rights lawyer and former lawyer for M by Blasio; Kathryn Garcia, former sanitation commissioner; Brooklyn city councilor Carlos Menchaca; and Loree Sutton, former Commissioner of Veterans Affairs

Many successful business leaders, such as Ronald Lauder and John A Catsimatidis, have in the past tried and failed to win mayoralty but the idea that sudden change or calamity could alter the trajectory of elections in New York is hardly unlikely

The budget crisis of the 1970s helped push Edward I Koch to take office in 1977; he was then overthrown in 1989 by David N Dinkins, whose campaign to become the city’s first black mayor took off after the racially motivated murder of Yusuf Hawkins in Bensonhurst, Brooklyn

In 2001, Michael R Bloomberg, a billionaire businessman then running as a Republican, captured the general election, an upheaval widely attributed to the Sept 11 attack on the World Trade Center and its devastating aftermath on the economy and the city’s psyche

Mr. McGuire has resisted comparisons with Mr. Bloomberg Raised by his mother, a single parent social worker, and grandparents in Dayton, Ohio, M McGuire says he never met his father.Bursaries helped him attend Hotchkiss School in Connecticut, and Mr. McGuire went on to graduate from Harvard College, Harvard Law School, and Harvard Business School.

– I doubt we got to the point where we would hear someone following in my footsteps called white Ray McGuire, – he said – Judge me on my meritsâ ????

Mr. McGuire lives in Central Park West with his wife, Crystal McCrary McGuire, lawyer and filmmaker, and their 7-year-old son, Leo The couple also have two children from Ms. McGuire’s previous marriage to the former New York player York Knicks Greg Anthony: an 18 year old girl, Ella; and a son, Cole, 20, who is a potential first-round pick in the upcoming National Basketball Association Draft

The apartment is filled with works by African-American artists like Romare Bearden and Charles Alston (M McGuire sits on the boards of the Whitney and Studio Museum in Harlem) He and his wife also own a home in Bridgehampton, NOi

He’s known to quote Notorious Bjeg lyrics (“If you don’t know, now you know” is one of his favorites) and the character of Omar Little from “The Wire” and likes to say that he is comfortable everywhere, from the streets to the suites? On a recent visit to the Rev Al Sharpton National Action Network in Harlem, M McGuire spoke about the history of the civil rights movement with the cadence of a black minister

Despite his pedigree on Wall Street, M McGuire says when he comes home from the gym in workout gear, he’s seen as a mere 6-foot-4 black man

– I could easily be the next George Floyd, – said M McGuire, who referred to M Floyd’s death at the hands of police officers in Minneapolis as cold-blooded murderâ € ”

The disparate impact of the coronavirus pandemic on blacks and Latinos is just the most recent example of « systemic and institutional racism » says M McGuire, who wrote the introduction to a recent Citi report that concluded that $ 16 trillion could have been added to the United States economy if four major racial gaps facing black Americans had been closed

While M McGuire has spoken out against discriminatory policing, he does not call for the defeat of the police service Last year, along with other black leaders, Mr. McGuire signed a letter to the New York Times denouncing episodes in which police officers were sprayed with water in Harlem

Christina Greer, associate professor of political science at Fordham University, said comparisons with M Bloomberg was inevitable

â ???? There is already a 12-year history of what happens when a rich person becomes mayor, â € “ Professor Greer said With the issues the city has to deal with, voters might want the next mayor to be someone who fundamentally understands city government.

But Kirsten John Foy, a civil rights leader who did not endorse a mayoral candidate, said she had met Mr. McGuire at Marcy Houses basketball court in Brooklyn to hear his take on the city

– He is an intellectually curious and very successful black man who wants to serve, â ???? Mr. Foy said – This story appeals to people of all ages and colorsâ € ”

Raymond J McGuire, Mayor of New York, Citigroup, CNBC, Mike Bloomberg

News from around the world – United States – Ray McGuire, Wall Street executive, enters the NOuiC Race of mayor


Donnez votre avis et abonnez-vous pour plus d’infos


Vidéo du jour: