Raymond McGuire

Raymond J. McGuire
Born	(1957-01-23) January 23, 1957 Dayton, Ohio, U.S.
Occupation(s)	Investment banker, politician
Years active	1984–present
Known for	President of Lazard; 2021 Democratic mayoral candidate in New York City

Raymond J. McGuire (born January 23, 1957) is a prominent figure in American investment banking. As of 2023, he holds the position of president at Lazard, a global financial services and investment banking firm headquartered in New York. Prior to this role, he accumulated 15 years of experience as a senior leader at Citigroup, following leadership stints at Merrill Lynch and Morgan Stanley.

In 2021, McGuire entered the political arena as a contender in the Democratic primary for New York City mayor.

Early life and education

Born in Dayton, Ohio, McGuire was raised by his mother alongside his grandparents. He attended the Hotchkiss School in Lakeville, Connecticut through scholarship support.

He graduated from Harvard College with a B.A. degree in 1979 and pursued further studies at the University of Nice in France on a Rotary Fellowship in 1980. By 1984, he had earned both an M.B.A. from Harvard Business School and a Juris Doctor from Harvard Law School.

McGuire launched his career in finance in 1984 at First Boston. He was among the founding team at investment bank Wasserstein Perella & Co. and later took on the role of managing director within the mergers and acquisitions division at Merrill Lynch. Subsequently, he served as global co-head of mergers and acquisitions at Morgan Stanley for several years.

Citigroup

In 2005, McGuire joined Citigroup as global co-head of investment banking. He became sole leader of global banking by 2009, and his title evolved to global head of corporate and investment banking by 2012. Over a span of thirteen years, he directed Citigroup’s corporate and investment banking operations.

Elevated to vice chairman of Citigroup in 2018, McGuire also chaired its banking, capital markets, and advisory segments. Throughout his tenure, he played advisory roles in significant deals such as AT&T’s acquisition of Time Warner, the division of Time Warner Cable, Wyeth’s merger with Pfizer, the purchase of Burlington Resources by ConocoPhillips, acquisition of Georgia-Pacific by Koch Industries, sale of Electronic Data Systems to Hewlett-Packard, and the acquisition of UST Inc. by Altria.

Before declaring his candidacy for mayor in 2020, McGuire was one of Wall Street’s most senior and longest-tenured African American executives. He contributed as a fundraiser for Barack Obama’s 2008 presidential campaign and was considered for roles within the U.S. Treasury Department in 2013. In 2018, he was shortlisted for president of the Federal Reserve Bank of New York, though the position ultimately went to John C. Williams.

Lazard

In 2023, McGuire assumed the presidency at financial services and investment banking firm Lazard, where his focus includes enhancing client engagement, recruiting top talent, and driving international growth. His base of operations is Lazard’s New York office.

Board memberships

McGuire holds directorships on the boards of Hess Corporation and serves as trustee for Vornado Realty Trust. His previous board roles include service with both KKR & Co. and Wyeth.

He leads as chairperson of the board of trustees at the Studio Museum in Harlem, acts as vice chairman at the New York Public Library, serves as treasurer at the American Museum of Natural History, and is a vice president at his alma mater, the Hotchkiss School. Additionally, he is a trustee for the Whitney Museum, the The WNET Group, and the New York City Police Foundation.

McGuire also chairs the board for the Regional Plan Association and sits on boards for both the French-American Foundation and the Terra Foundation for American Art.

2021 mayoral campaign

In October 2020, McGuire declared his intention to run for Mayor of New York City in the 2021 election, with Valerie Jarrett serving as a co-chair for his campaign. His platform emphasized tackling racial tensions sparked by the George Floyd protests and promoting economic revival following the COVID-19 pandemic. Within just three months, he amassed $5 million in campaign funds, gaining considerable backing from the business sector.

During a May 2021 interview with the The New York Times editorial board, McGuire notably misjudged Brooklyn’s median home sale price, estimating it between "$80,000 to $90,000," while the actual figure stood near $900,000—a discrepancy that housing analysts described as "disconnected from reality."

Ultimately, McGuire finished seventh in the mayoral contest, securing 2.3% of the vote.

Personal life

McGuire is married to Crystal McCrary McGuire, who works as a television producer and novelist. Together they have one child, and he is also stepfather to two children from her previous marriage to Greg Anthony, including Cole Anthony, a professional NBA player for the Orlando Magic.

Awards

In 2022, McGuire was honored with the W. E. B. Du Bois Medal, Harvard University's most prestigious accolade in African and African American studies, acknowledging his impactful contributions to cultural and intellectual spheres.

External links

• Official bio