Raymond McGuire facts for kids
Quick facts for kids
Ray McGuire
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| Born | January 23, 1957 Dayton, Ohio, U.S.
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| Education | Harvard University (AB, JD, MBA) |
| Spouse(s) | Crystal McCrary |
| Children | 3, including Cole Anthony (step-son) |
Raymond J. McGuire (born January 23, 1957) is a very successful American business leader. He works in the world of finance, which involves managing money and investments for companies. As of 2023, he is the president of a big international financial company called Lazard. He works from their main office in New York City.
Before joining Lazard, Ray McGuire spent 15 years as a top executive at Citigroup, another major financial company. He also held important jobs at other well-known firms like Merrill Lynch and Morgan Stanley. In 2021, he ran for mayor of New York City.
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Early Life and Education
Ray McGuire grew up in Dayton, Ohio. His mother and grandparents raised him. He was able to attend a special school called the Hotchkiss School in Lakeville, Connecticut, thanks to scholarships.
He went to Harvard College and earned a degree in 1979. In 1980, he studied in France at the University of Nice with a special scholarship. Later, in 1984, he earned two more degrees from Harvard University: a business degree (M.B.A.) and a law degree (Juris Doctor).
Career in Finance
Starting on Wall Street
Ray McGuire began his career in finance in 1984. He worked at a company called First Boston. After that, he was one of the first people to work at a new investment bank called Wasserstein Perella & Co.. He then became a managing director at Merrill Lynch, helping with big company mergers and acquisitions. Later, he was a global co-head of mergers and acquisitions at Morgan Stanley.
Leading at Citigroup
In 2005, McGuire joined Citigroup. He started as a global co-head of investment banking. By 2009, he was the only head of global banking. His title changed again in 2012 to global head of corporate and investment banking. He spent 13 years leading Citigroup's corporate and investment banking division.
In 2018, he became a vice chairman at Citigroup. He also became chairman of Citigroup's banking, capital markets, and advisory business. During his time at Citigroup, McGuire helped advise on many large business deals. These included AT&T buying Time Warner and Wyeth being sold to Pfizer.
Before he decided to run for mayor in 2020, Ray McGuire was one of the highest-ranking African American business leaders on Wall Street. He also helped raise money for Barack Obama's presidential campaign in 2008.
New Role at Lazard
In 2023, Ray McGuire became the president of Lazard. This company provides financial services and investment banking. His job is to make relationships with banking clients stronger. He also helps attract new talented people to the company. McGuire is also involved in helping Lazard grow around the world. He works from Lazard's offices in New York.
Important Board Memberships
Ray McGuire serves on the boards of directors for several important organizations. He is on the board of Hess Corporation and Vornado Realty Trust. He used to be on the boards of KKR & Co. and Wyeth.
He is also very involved in the arts and education. He is the chairman of the board for the Studio Museum in Harlem. He is also the vice chairman of the board for the New York Public Library. McGuire is the treasurer for the American Museum of Natural History. He is also a vice president for the board of the Hotchkiss School, where he went to high school. He is a member of the boards for the Whitney Museum, The WNET Group, and the New York City Police Foundation.
Additionally, he is the chairman of the board for the Regional Plan Association. He is also a member of the boards for the French-American Foundation and the Terra Foundation for American Art.
Running for Mayor in 2021
In October 2020, Ray McGuire announced he would run for Mayor of New York City. Valerie Jarrett helped lead his campaign. McGuire said he would focus on helping New York recover from the COVID-19 pandemic. He also wanted to address issues of racial fairness.
Three months into his campaign, McGuire had raised $5 million. Many people from the business world contributed money to his campaign.
In May 2021, The New York Times asked mayoral candidates about home prices in Brooklyn. McGuire guessed the median price was around $80,000 to $90,000. Another candidate, Shaun Donovan, guessed around $100,000. However, the actual median price was $900,000. Some people felt their guesses showed they were not fully aware of the city's housing costs.
McGuire finished in seventh place in the election, receiving 2.3% of the votes.
Personal Life
Ray McGuire is married to Crystal McCrary McGuire. She is a television producer and a writer. They 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).
Awards and Recognition
In 2022, Ray McGuire received the W. E. B. Du Bois Medal. This is a very high honor from Harvard University. It is given to people who have made important contributions to African and African American culture and ideas.
