Citigroup's chief financial officer Mark Mason described Ray McGuire, a long-time bank executive and one of the most prominent Black professionals on Wall Street who has quit to join the race for New York mayor, as a "Wintertime Soldier" who has brought global "street credibility" to the bank.

McGuire, vice chair of Citi who spent 13 years leading its investment bank, stepped down on 15 October to joined the mayoral race for New York. A 15-year veteran of the bank, McGuire will be a big loss to Citi, where he is well-liked, respected and has been heavily involved with mentorship and diversity programmes. He is also one of the most senior Black investment bankers at a major Wall Street firm.