Mayor Zohran Mamdani’s administration is asking a former top executive for UBS Group AG in the US, an ex-global head of investment banking at Lazard Inc. and Bank of America Corp.’s New York City president to be among the business leaders joining his administration’s advisory council.
The group would provide advice and feedback from key industries including real estate, finance and technology, according to people familiar with the matter, who asked not to be named discussing early-stage conversations.
“The administration is in the process of reaching out to business executives to form a Business Advisory Council,” a spokesperson for the Mayor’s Office said in an emailed statement. “The purpose of the council is to engage with business leaders for their insights and input as we build an economic development strategy that improves life for all New Yorkers.”
The spokesperson didn’t respond to questions about the council’s membership or the timing of its formation.
The outreach comes as Mamdani disbands a separate advisory board of corporate leaders that helped raise millions of dollars for the Mayor’s Fund to Advance New York City, a government-affiliated nonprofit that channels private donations to City Hall priorities. Mamdani has been at odds with many of New York’s business elite as he pursues higher taxes on wealthy residents and large corporations, and has clashed with prominent billionaires including Citadel’s Ken Griffin and Amazon.com Inc. founder Jeff Bezos.
