Seasoned Wall Street Banker Ray McGuire Aims To Help Lazard Grow Globally As Firm’s New President

Accomplished Wall Street investment banker Ray McGuire has been named president of financial advisory and asset management firm Lazard Ltd.

Based in New York, McGuire officially starts his new role on April 3. He will be a member of the firm’s senior leadership team, and his duties include further strengthening senior client relationships, attracting talent, and expanding Lazard’s reach worldwide.

McGuire’s appointment is significant as Lazard operates from 43 cities across 26 countries in North and South America, Europe, Asia, and Australia. The firm reported assets under management of over $230 million as of late January 2023.

Further, he joins a growing list of Black executives who have secured decision-making C-suite roles at some of the nation’s largest public companies in various industries. That is vital as large U.S. companies face more pressure to boost the representation of Blacks in such roles.

McGuire previously was vice chairman of Citigroup and chairman of its Banking, CapitalMarkets, and Advisory business after 13 years as its global head of corporate and investment baking. Before joining Citigroup, he was the global co-Head of mergers and acquisitions at Morgan Stanley and a managing director in the mergers and acquisitions group of Merrill Lynch, per a news release.

He began his career in 1984 in the mergers and acquisitions group of The First Boston Corp. After that, he was among the original members of Wasserstein Perella & Co., being named a partner/managing director in 1991. McGuire, over the years, has advised over $750 billion worth of transactions across several industries and geographies

Lazard’s Chairman and CEO Kenneth Jacobs stated, “We are privileged to have Ray join us and serve in a senior leadership role. Ray is one of the financial services industry’s most respected leaders and trusted advisors. He is a renowned dealmaker and dedicated team-builder, who for decades has inspired colleagues, employees, CEOs, and communities around the world with his vision and judgment.”

Commenting on his new role, McGuire shared with BLACK ENTERPRISE by email, “I’ve known, admired, and respected Lazard since my days as a student living in France in the early 1980s and throughout my investment banking career. Lazard has a 175-year history of leadership in the financial industry with some of the most respected, trusted advisors to corporate, sovereign, and civic leaders and sophisticated Institutional Investors, globally. I am honored to join such a storied franchise to help to maintain that tradition.”

A former New York mayoral candidate, McGuire also is a civic leader with a highly-regarded reputation in the philanthropic arena. He has a broad record of serving on corporate and not-for-profit boards. They include being a director of Hess Corp., KKR & Co., and Vornado Realty Trust. He is also the chair of the Regional Plan Association of New York, New Jersey, and Connecticut and the Studio Museum in Harlem.