Ex-Citi sec lending director running for Congress
02 November 2016 New York
Image: Shutterstock
An ex-Citi director of securities lending sales is challenging for a seat in Congress in the Democratic stronghold of New York’s 13th District.
Republican nominee Tony Evans joined Citibank in 1990 and moved up the ranks to become director of sales for the bank’s securities lending division between 2005 to 2008.
Since 2008, Evans served as a founding partner for the Law Offices of Robert Anthony Evans, Jr and then Evans & Al-Shabazz, before launching his political campaign for the House of Representatives.
Evans will take on the Democratic nominee, state senator Adriano Espaillat, to become the Republican representative for the district, which has been held by Democrat senator Charles Rangel since 1971.
"I hope, maybe, through me and perhaps others, people will understand that the [securities] lending industry serves an important function," said Evans.
"Helping governmental agencies and large holders make their portfolios more efficient is vitally important. There was a time when politicians were blaming securities lending for short selling pressures in the market—it was unfair and untrue."
"When I think about the many request for proposals and meetings we would have with people in state governments and how so many of those meetings seemed 'pre-determined' by political agendas I get very concerned."
"We need to allow the financial professionals in government to make market choices with a long view for the best interest of us all—for pensioners, seniors and the needy—and not just the politically expedient choices for an election cycle."
Republican nominee Tony Evans joined Citibank in 1990 and moved up the ranks to become director of sales for the bank’s securities lending division between 2005 to 2008.
Since 2008, Evans served as a founding partner for the Law Offices of Robert Anthony Evans, Jr and then Evans & Al-Shabazz, before launching his political campaign for the House of Representatives.
Evans will take on the Democratic nominee, state senator Adriano Espaillat, to become the Republican representative for the district, which has been held by Democrat senator Charles Rangel since 1971.
"I hope, maybe, through me and perhaps others, people will understand that the [securities] lending industry serves an important function," said Evans.
"Helping governmental agencies and large holders make their portfolios more efficient is vitally important. There was a time when politicians were blaming securities lending for short selling pressures in the market—it was unfair and untrue."
"When I think about the many request for proposals and meetings we would have with people in state governments and how so many of those meetings seemed 'pre-determined' by political agendas I get very concerned."
"We need to allow the financial professionals in government to make market choices with a long view for the best interest of us all—for pensioners, seniors and the needy—and not just the politically expedient choices for an election cycle."
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