Raymond McGuire
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Raymond J. McGuire (born January 23, 1957) is an American businessman. As of 2023 he is the president of the international financial services and investment banking firm Lazard, and is based in its New York headquarters. Previously, he worked for 15 years as a senior executive at Citigroup, following executive positions at Merrill Lynch and
Morgan Stanley Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more than 80,000 employees, the firm's clients in ...
. He was a candidate in the 2021 New York City Democratic mayoral primary.


Early life and education

McGuire was born in
Dayton, Ohio Dayton () is a city in Montgomery County, Ohio, United States, and its county seat. It is the List of cities in Ohio, sixth-most populous city in Ohio, with a population of 137,644 at the 2020 United States census, 2020 census. The Dayton metro ...
and raised by his mother and grandparents. Through scholarships, he attended the Hotchkiss School in Lakeville, Connecticut. He stands at 6 foot 4 inches tall. He graduated with a B.A. from
Harvard College Harvard College is the undergraduate education, undergraduate college of Harvard University, a Private university, private Ivy League research university in Cambridge, Massachusetts, United States. Part of the Harvard Faculty of Arts and Scienc ...
in 1979. McGuire attended the University of Nice in
France France, officially the French Republic, is a country located primarily in Western Europe. Overseas France, Its overseas regions and territories include French Guiana in South America, Saint Pierre and Miquelon in the Atlantic Ocean#North Atlan ...
on a Rotary Fellowship in 1980. In 1984, he received an M.B.A. from
Harvard Business School Harvard Business School (HBS) is the graduate school, graduate business school of Harvard University, a Private university, private Ivy League research university. Located in Allston, Massachusetts, HBS owns Harvard Business Publishing, which p ...
and a
Juris Doctor A Juris Doctor, Doctor of Jurisprudence, or Doctor of Law (JD) is a graduate-entry professional degree that primarily prepares individuals to practice law. In the United States and the Philippines, it is the only qualifying law degree. Other j ...
from
Harvard Law School Harvard Law School (HLS) is the law school of Harvard University, a Private university, private research university in Cambridge, Massachusetts. Founded in 1817, Harvard Law School is the oldest law school in continuous operation in the United ...
.


Career

McGuire began working in finance in 1982 at First Boston. He was next one of the original members of the investment bank Wasserstein Perella & Co., and then was managing director in the mergers and acquisitions group at Merrill Lynch. He subsequently spent several years as global co-head of mergers and acquisitions at
Morgan Stanley Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more than 80,000 employees, the firm's clients in ...
. He moved to Citigroup in 2005, where he initially worked as the global co-head of investment banking. In 2009, he became sole head of global banking; by 2012, this title had changed to global head of corporate and investment banking. In 2018 he became vice chairman of Citigroup, and chairman of Citigroup's banking, capital markets and advisory business. During his tenure at Citigroup, McGuire served as business advisor for a number of major deals, including the Time Warner Cable split, ConocoPhillips' acquisition of Burlington Resources, Koch Industries' acquisition of Georgia-Pacific, and the sale of
Electronic Data Systems Electronic Data Systems (EDS) Corporation was an American multinational corporation, multinational information technology equipment and services company headquartered in Plano, Texas, which was founded in 1962 by Ross Perot. The company was a s ...
to
Hewlett-Packard The Hewlett-Packard Company, commonly shortened to Hewlett-Packard ( ) or HP, was an American multinational information technology company. It was founded by Bill Hewlett and David Packard in 1939 in a one-car garage in Palo Alto, California ...
. Prior to announcing his candidacy for mayor in late 2020, McGuire was one of the highest-ranking and longest-serving African American business executives on
Wall Street Wall Street is a street in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It runs eight city blocks between Broadway (Manhattan), Broadway in the west and South Street (Manhattan), South Str ...
. He was a bundler to
Barack Obama Barack Hussein Obama II (born August 4, 1961) is an American politician who was the 44th president of the United States from 2009 to 2017. A member of the Democratic Party, he was the first African American president in American history. O ...
's 2008 presidential campaign, and was mentioned as a possible candidate for a position in the U.S. Department of the Treasury in 2013. In 2018 he was named as a candidate to serve as the president of the Federal Reserve Bank of New York, but the job went to John C. Williams. In 2023 he was appointed president of the financial services and investment banking firm Lazard, with responsibility for strengthening relationships with banking clients and institutional investors, attracting new talent, and assisting the firm's global expansion. He is based in Lazard's New York offices. An art collector, McGuire is the chairman of the Studio Museum in Harlem and a trustee of the Whitney Museum. In addition to being on the boards of numerous not-for-profit institutions, he is a director at several corporations including
Hess Corporation Hess Corporation (formerly Amerada Hess Corporation) is an American global independent energy company involved in the oil exploration, exploration and production of Petroleum, crude oil and natural gas. It was formed by the merger of Hess Oil and ...
, Vornado Realty Trust, and KKR & Co.


2021 mayoral election

In October 2020, McGuire announced he would run for
Mayor of New York City The mayor of New York City, officially mayor of the City of New York, is head of the executive branch of the government of New York City and the chief executive of New York City. The Mayoralty in the United States, mayor's office administers all ...
in 2021. Valerie Jarrett was co-chair of his campaign. McGuire pledged to focus his campaign on racial unrest amid the
George Floyd protests The George Floyd protests were a series of protests, riots, and demonstrations against police brutality that began in Minneapolis in the United States on May 26, 2020. The protests and civil unrest began in Minneapolis as Reactions to the mu ...
and economic recovery from the
COVID-19 pandemic The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December ...
. Three months after beginning his campaign, McGuire had raised $5 million with notable contributions from the business community. In May 2021, when ''
The New York Times ''The New York Times'' (''NYT'') is an American daily newspaper based in New York City. ''The New York Times'' covers domestic, national, and international news, and publishes opinion pieces, investigative reports, and reviews. As one of ...
'' editorial board asked eight mayoral candidates the median sales price for a home in Brooklyn, McGuire (”somewhere in the $80,000 to $90,000 range, if not higher”) and fellow candidate Shaun Donovan greatly underestimated the amount, which was $900,000. Nicole Gelinas, a senior fellow at the Manhattan Institute, characterized their estimates as being "out of touch with what’s going on in the city". McGuire ultimately finished in seventh place, with 2.3% of the vote.


Personal life

McGuire is married to Crystal McCrary McGuire, a television producer and novelist. He has one child with his wife, plus two step-children from her previous marriage to Greg Anthony, including Cole Anthony, a
National Basketball Association The National Basketball Association (NBA) is a professional basketball league in North America composed of 30 teams (29 in the United States and 1 in Canada). The NBA is one of the major professional sports leagues in the United States and Ca ...
(NBA) player for the Orlando Magic.


Awards

McGuire was a 2022 recipient of the W. E. B. Du Bois Medal, "Harvard's highest honor in the field of African and African American studies. It is awarded to individuals in the United States and across the globe in recognition of their contributions to African and African American culture and the life of the mind".


References

{{DEFAULTSORT:McGuire, Raymond Living people 1957 births Businesspeople from Dayton, Ohio Hotchkiss School alumni Harvard Law School alumni Harvard Business School alumni New York (state) Democrats Candidates in the 2021 United States elections Businesspeople from New York (state) African-American business executives Citigroup people 21st-century African-American politicians 20th-century African-American businesspeople Harvard College alumni