Raymond McGuire facts for kids
Quick facts for kids
Ray McGuire
|
|
|---|---|
.jpg) |
|
| Born | January 23, 1957 Dayton, Ohio, U.S.
|
| Education | Harvard University (AB, JD, MBA) |
| Political party | Democratic |
| Spouse(s) | Crystal McCrary |
| Children | 3, including Cole Anthony (step-son) |
Raymond J. McGuire (born January 23, 1957) is an American businessman. He is currently the president of Lazard, a big company that helps other businesses with money matters. He works in their New York office. Before this, he was a top leader at Citigroup for 15 years. He also held important jobs at Merrill Lynch and Morgan Stanley. In 2021, he ran to become the Mayor of New York City.
Contents
Early Life and Education
Ray McGuire was born in Dayton, Ohio. His mother and grandparents raised him. He went to a special school called the Hotchkiss School in Lakeville, Connecticut. He was able to go because he earned scholarships, which are like financial gifts that help pay for school. He is 6 feet 4 inches tall.
He went to Harvard College and earned a bachelor's degree in 1979. A bachelor's degree is a four-year college degree. In 1980, he studied in France at the University of Nice Sophia Antipolis. He went there with a Rotary Fellowship, which is another type of scholarship for studying abroad. Later, in 1984, he earned two more advanced degrees from Harvard University: a law degree (called a Juris Doctor) and a business degree (called a Master of Business Administration).
Ray McGuire's Career in Business
Ray McGuire started his career in finance in 1982 at a company called First Boston. Finance is about managing money for businesses and people. He then became one of the first people to work at an investment bank called Wasserstein Perella & Co.. An investment bank helps companies raise money and buy or sell other companies.
After that, he was a managing director at Merrill Lynch. He worked in their mergers and acquisitions group. Mergers and acquisitions happen when one company buys another, or two companies join together. He then spent several years as a global co-head of mergers and acquisitions at Morgan Stanley.
Working at Citigroup
In 2005, Ray McGuire joined Citigroup, a very large bank. He first worked as a global co-head of investment banking. By 2009, he became the only head of global banking. This means he was in charge of all the bank's services for big companies around the world. In 2018, he became a vice chairman of Citigroup. He also became chairman of Citigroup's banking, capital markets, and advisory business.
While at Citigroup, McGuire helped with many big business deals. For example, he advised on the split of Time Warner Cable. He also helped ConocoPhillips buy Burlington Resources. He worked on Koch Industries buying Georgia-Pacific and the sale of Electronic Data Systems to Hewlett-Packard.
Before he decided to run for mayor in 2020, Ray McGuire was one of the highest-ranking and longest-serving African American business leaders on Wall Street. Wall Street is a famous street in New York City where many big financial companies are located.
Current Role at Lazard
In 2023, Ray McGuire became the president of Lazard. Lazard is a company that provides financial services and investment banking advice. In this role, he helps build stronger connections with banking clients and big investors. He also works to bring new talented people to the company. His job also includes helping Lazard grow around the world. He works from Lazard's offices in New York.
Ray McGuire also collects art. He is the chairman of the Studio Museum in Harlem, which is an art museum. He is also a trustee at the Whitney Museum. Besides these, he is on the boards of many non-profit groups. He also serves as a director for several companies, including Hess Corporation, Vornado Realty Trust, and KKR & Co..
Running for Mayor of New York City
The 2021 Mayoral Election
In October 2020, Ray McGuire announced he would run for Mayor of New York City in 2021. The mayor is the top leader of a city. Valerie Jarrett helped lead his campaign. McGuire said his campaign would focus on two main things: dealing with racial problems and helping the city's economy recover from the COVID-19 pandemic.
Three months after he started his campaign, McGuire had raised $5 million. Many people from the business world gave money to support him.
In May 2021, The New York Times newspaper asked eight candidates for mayor about the average price of a home in Brooklyn. McGuire said it was "somewhere in the $80,000 to $90,000 range." Another candidate, Shaun Donovan, also guessed a much lower amount. The actual average price was $900,000. Some people thought their guesses showed they were "out of touch" with what was happening in the city.
In the end, Ray McGuire finished in seventh place in the election. He received 2.3% of the votes.
Personal Life
Ray McGuire is married to Crystal McCrary McGuire. She is a television producer and a writer. Ray and Crystal have one child together. Ray also has two step-children from Crystal's previous marriage. One of his step-children is Cole Anthony, who is a professional basketball player for the Orlando Magic in the National Basketball Association (NBA).
