Ray McGuire, vice chairman of Citigroup Inc., speaks throughout a Bloomberg Television interview on the Milken Institute Global Conference in Beverly Hills, California, April 29, 2019.
Patrick T. Fallon | Bloomberg | Getty Images
Ray McGuire, a high government at Citigroup, is ready to leave the financial institution and run for mayor of New York.
McGuire is a vice chairman of Citigroup and chairman of banking, capital markets and advisory. He has been privately discussing running for mayor since January.
“We’re in a war for the survival of this great city. Without a doubt we can do this. From the streets to the suites,” McGuire instructed CNBC, confirming his plans to announce his departure from the financial institution on Thursday and leap into the race.
Citi’s CEO, Michael Corbat, and Paco Ybarra, CEO of the financial institution’s institutional shoppers group, knowledgeable staff on Thursday that McGuire can be departing to “explore opportunities that will allow him to pursue his lifelong passion for public service,” in accordance to a memo obtained by CNBC.
McGuire, 63, is getting right into a crowded Democratic major discipline for the mayor’s workplace. Maya Wiley, a former high legal professional for Mayor Bill de Blasio, lately introduced her entrance into the race. She was beforehand a authorized analyst for MSNBC. De Blasio’s time period ends on the primary day of 2022.
McGuire can be surrounded by what a supply aware of the marketing campaign referred to as an “A+ team.” Charles Phillips, one of McGuire’s closest mates and the previous CEO of Infor, has been advising him on working for mayor.
Valerie Jarrett, a longtime shut advisor to former President Barack Obama, will act as co-chair of McGuire’s marketing campaign, in accordance to an individual with direct information of the matter.
Phillips individually instructed CNBC on Thursday that he can even co-chair McGuire’s marketing campaign.
“NYC faces its largest economic challenge in decades and we need to execute with purpose and efficiency,” Phillips instructed CNBC. “Ray is the right person to lead and unify the city to create something better when we get through this. He took the time to prepare and he’s more than ready to outwork everyone.”
There are others anticipated to be named as co-chairs within the coming weeks, together with movie director Spike Lee, a supply added.
McGuire has been vocal on key points when it comes to policing and the Black neighborhood.
After the demise of George Floyd by the hands of Minneapolis law enforcement officials, McGuire instructed CNBC that the killing was “cold-blooded murder” and referred to as on corporate leaders to take the necessary steps to combat racism.
He lately authored a preface to a Citi report titled “Closing the Racial Inequality Gaps.” In the introduction, the banking government displays on how he is seen as a Black man.
“Yet even today, with all those credentials and as one of the leading executives on Wall Street, I am still seen first as a six-foot-four, two-hundred-pound Black man wherever I go — even in my own neighborhood. I could have been George Floyd,” he writes.