Citigroup Executive Raymond McGuire Is Planning To Run In NYC Mayoral Race

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Written by Ann Brown
The race for NYC mayor may be a year away, but Citigroup Vice Chairman Raymond McGuire seems to be planning a run for the office in 2021. Citigroup vice chairman Raymond McGuire participates in the Yahoo Finance All Markets Summit at Union West on Thursday, Oct. 10, 2019, in New York. (Photo by Evan Agostini/Invision/AP)

The race for NYC mayor may be a year away, but Citigroup Vice Chairman Raymond McGuire seems to be planning a run for the office in 2021, a source close to McGuire told Page Six.

And he already has support. Back in January, according to a Post report, business groups such as the Black Economic Alliance were already pushing to get him to run. 

The Black Economic Alliance is comprised of senior Black business people like Viacom’s Marva Smalls and Lazard’s William M. Lewis Jr. Among their goals is to see more people of color elected to public office.

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“That group is saying, ‘Why don’t we sort of replicate Bloomberg in terms of having someone who’s got an understanding of business and the economy rather than a professional politician,” the source said.

McGuire’s “working on building a team,” said one source close to the Wall Street vet. “There has been a strong push from everyone from Wall Street to the arts [community], churches — everything in between,” said a second insider.

“McGuire is a Dem donor, who recently served on Sen. Kamala Harris’ finance committee for her failed presidential run. He has served on several boards throughout the city, including the New York City Police Foundation, the Whitney Museum of American Art and as a trustee of New York-Presbyterian Hospital,” Page Six reported.

If McGuire succeeds, he will become New York City’s second Black mayor, following David Dinkins, who was mayor from 1990 to 1993.

“McGuire, who is vice chairman of Citigroup and chairman of Banking, Capital Markets, and Advisory, is being encouraged to run for the mayor’s office by other Wall Street and corporate executives. In 2015, McGuire was appointed by Mayor Bill De Blasio to the Cultural Affairs Advisory Commission,” Black Enterprise reported. 

McGuire also serves on several boards including the Alex Hillman Family Foundation, the American Museum of Natural History, the Carnegie Endowment for International Peace, the Citi Foundation, the De La Salle Academy (Chairman Emeritus), the Harvard Club of New York, the Hotchkiss School, the New York City Police Foundation, the New York-Presbyterian Hospital, the New York Public Library (Executive Committee and Co-Chairman Nominating Committee), the Studio Museum in Harlem (Chairman), and Think450.