Zohran Mamdani forms business council as JPMorgan, BlackRock, Google & others push back

New York City Mayor Zohran Mamdani has established a Business Advisory Council comprising 15 prominent business leaders, aiming to improve relations with the city's powerful executives. The council, which spans various sectors like finance, real estate, healthcare, technology, and retail, includes figures such as Chobani CEO Hamdi Ulukaya, Etsy CEO Kruti Patel Goyal, and New York Liberty CEO Keia Clarke.

However, some major players like JPMorgan Chase, Citigroup, American Express, Meta, and Google are notably absent from the list.

Mayor Mamdani sees the council as a means to collaborate with New York's most influential business leaders on economic matters, acknowledging past conflicts between his administration and the business community. Despite approaching other high-profile executives, Mamdani's office revealed that Bank of America's NYC president Jose Tavarez, former American Express CEO Ken Chenault, and private equity executive Charles Phillips declined to join the council.

The Business Advisory Council will convene quarterly, with members advising City Hall on industries including finance, technology, real estate, entertainment, and healthcare, as well as infrastructure, talent pipeline, and regulatory environment. Recent controversies, such as JPMorgan CEO Jamie Dimon's public criticism of Mamdani's policies, have not deterred the mayor from pursuing the council as a platform for constructive dialogue.

Mayor Mamdani's election campaign focused on affordable housing, free city buses, and higher taxes on corporations and wealthy New Yorkers. Some members of the council, like Scott Rechler, have expressed disagreement with Mamdani on certain issues, including his rhetoric on Israel. Nonetheless, they emphasize the importance of collaboration and shared purpose to address the city's challenges.