April 17, 2024
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Ray McGuire Believes His Business Skills Will Put NYC Back on Top

Raymond J. McGuire believes a strong family work ethic and years of business expertise make him the leading choice to govern New York City as it struggles to regain its footing economically as the COVID-19 pandemic subsides.

The Democrat, who goes by the nickname Ray, recently left his position as vice chairman of Citigroup where he had been one of the longest-serving and highest-ranking Black executives on Wall Street.

He is in a crowded field seeking the nomination in the June 22 primary to succeed Bill de Blasio.

McGuire has said he believes his financial background makes him uniquely poised to get New York on its economic feet and attract new jobs and believes the city, because of its racial, ethnic and religious diversity, can be a national leader in finding solutions to racial disharmony.

Although his campaign did not respond to attempts by The Jewish Link for an interview, a synopsis of his background has been compiled.

Raised by a single mother who worked as a social worker—he never knew his father—and his grandparents in Dayton, Ohio, he and his two brothers were poor, but McGuire’s website states he had “family, faith, church, a loving home and a deep-seated belief that education was their ticket to anywhere.”

The 64-year-old’s grandfather worked in a factory during the week and as a janitor on the weekend, and his grandmother was head of the church missionary board. Through those adult influences McGuire “absorbed the values of working hard, believing in yourself and looking out for other people who need a hand along the way.”

Through excelling at academics, as a teen he received scholarships, earned a 4.0 grade point average and, with tough financial sacrifice of his family, loans and more scholarships, was accepted at Hotchkiss, a renowned prep school. McGuire became the first in his family to attend college, enrolling at Harvard University, where he later also concurrently earned MBA and law degrees. He later began a career on Wall Street and for the last 13 years he was the head of global corporate and investment banking at Citigroup and the longest-tenured head of investment banking in Wall Street history.

McGuire has been a Citi Foundation board member, helping the firm improve the lives of people in low-income communities. He recently helped write a groundbreaking report on the economic impact of systemic racism and has mentored disadvantaged young people.

He has also served on the boards of the New York Presbyterian Hospital, the New York Public Library, the Whitney Museum and the Studio Museum in Harlem and on the advisory boards for the Council of Urban Professionals, Sponsors for Educational Opportunities, Management Leadership for Tomorrow and others throughout the city.

“We are nearing the point of no return, and politics as usual won’t cut it at City Hall,” he wrote on his website. “I want this to be a city that works again, a place where anyone with a dream can make it and everyone who calls it home can live safely and thrive.”

By Debra Rubin

 

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