“Ray is acknowledged to be among the most respected and admired industry leaders, and has long been a powerful and path-breaking voice for the industry on diversity and inclusion, which we value so highly at Citi,” Chief Executive Officer Michael Corbat and Paco Ybarra, head of the bank’s institutional clients group, said in a memo to employees. “Ray has been a torchbearer, trusted and valued colleague and friend, admired by colleagues throughout Citi, from our facilities staff to the C-suite and board.”
Mayor Bill de Blasio, the incumbent who was first elected in 2013, is barred from seeking re-election due to term limits. He has said he doesn’t intend to endorse a candidate in the Democratic primary.
Crowded Race
The mayoral race already includes city Comptroller Scott Stringer, Brooklyn Borough President Eric Adams, former U.S. Housing and Urban Development Secretary Shaun Donovan and three former members of de Blasio’s administration. Among Republicans, billionaire John Catsimatidis, whose Red Apple Group owns the Gristedes supermarket chain, has entered the race, alongside Sara Tirschwell, chief financial officer of mental-health nonprofit Foundation House, and Kelly Mack, president of Corcoran Sunshine Marketing Group.
During an Oct. 13 forum, many candidates said they would oust Police Commissioner Dermot Shea over his handling of the police response to Black Lives Matter protests in the aftermath of the killing of George Floyd. McGuire, for his part, has sat on the board of trustees for the New York City Police Foundation, according to a report last year from the group.
In recent years, McGuire has gotten more involved with the many philanthropic efforts across the city, including serving on the boards of New York Presbyterian Hospital, the Whitney Museum of American Art and the Studio Museum in Harlem, where he’s chairman.
“His challenges will be many,” said Dick Parsons, Citigroup’s chairman until 2012. “He’s not a well-known name -- he’s not been an activist in that sense. He’s a guy who made his name and his living succeeding in the financial-services arena.”
This article was provided by Bloomberg News.