8.6 C
New York
Sunday, May 9, 2021

Not on Bloomberg’s radar before Citi tapped Ray McGuire

- Advertisement -
- Advertisement -

It’s the man who’s taken over Citigroup’s helm and, unlike Michael Bloomberg, is well-known to an average New Yorker. Ray McGuire would not have been on anyone’s radar in a few months ago — given the amount of scandal hitting Citigroup and the city as a whole, it’s possible his career trajectory isn’t exactly clear.

But on Monday, a 32-year-old Mr. McGuire gave a presentation to at least a half-dozen top Bloomberg administration officials, including Housing Commissioner Vicki Been, about the major investments Citigroup, which operates all over the world, has been making in the city.

“Citi’s folks brought us a really interesting and highly sophisticated idea of the things that the company is doing to continue to grow its business, as well as in terms of investments in the city,” said Eric Phillips, a spokesman for the city. “The thing I think makes this investment unique is that Citigroup … has a significant presence, both here and in other markets, including New York.”

Citi has been doubling down on city-related projects lately, spending more than $600 million on employee training, a new credit card and investments in for-profit colleges. In all, the bank has committed to more than $2 billion in investments in the city over the next five years.

Mr. McGuire stressed that Mr. Bloomberg wanted Citigroup to “continue its footprint in New York,” and provided no evidence that other new projects would be canceled if Mr. Trump is elected. “I don’t believe Citi is uniquely positioned to make these investments,” he said. “But because of our footprint and the fact that we are an important customer to the city, we feel like we are in a unique position to make that happen.”

At the unveiling of the bank’s trade center project last month, Mr. McGuire promised that Citigroup would not be swayed by politics as it pursues plans to restore office towers on the site.

- Advertisement -

Latest news

‘No question, we can do better’: How to overcome the stigma of experiencing traumatic events

A year ago on this same date, a nation was first rocked by the Department of Justice’s charge that far too many African-Americans —...
- Advertisement -

How to run a dream vacation and still save money

Been training with people to teach them how to fly without spending much time worrying about the plane falling out of the sky. What...

The Champions League Final is a long way from the Nou Camp

For the first time in its history, the UEFA Champions League final will take place at Wembley Stadium in London, instead of its traditional...

Will jobs ever return to the artisanship industry?

Paris-based luxury and lifestyle brand Hermes was careful to remind its executives that they were talking about conditions for everyone — not just employees...

Related news

‘No question, we can do better’: How to overcome the stigma of experiencing traumatic events

A year ago on this same date, a nation was first rocked by the Department of Justice’s charge that far too many African-Americans —...

How to run a dream vacation and still save money

Been training with people to teach them how to fly without spending much time worrying about the plane falling out of the sky. What...

The Champions League Final is a long way from the Nou Camp

For the first time in its history, the UEFA Champions League final will take place at Wembley Stadium in London, instead of its traditional...

Will jobs ever return to the artisanship industry?

Paris-based luxury and lifestyle brand Hermes was careful to remind its executives that they were talking about conditions for everyone — not just employees...
- Advertisement -