Steven Fulop, a vice president in equity sales and trading at Sanford C. Bernstein & Co., is leaving the firm to run for mayor of Jersey City, New Jersey.
Fulop, a Jersey City councilman who began his finance career as an analyst in the asset-management division at Goldman Sachs Group Inc. (GS:US), said today that he plans to campaign full-time until the May 2013 election in a bid to lead New Jersey’s second-largest municipality.
“History is littered with campaigns that are well- intentioned but start late, and I’m committed not to let that happen,” Fulop, a 35-year-old Democrat, said in a phone interview. “This is part of getting out there with enough time to run the best campaign possible.”
Fulop, who left New York-based Goldman Sachs and enlisted in the U.S. Marine Corps Reserves in 2002, said he served in the Iraq war in 2003. He joined Bernstein in 2008 to work in portfolio and algorithmic trading and held a similar job at Citigroup Inc. (C:US) from 2006 through 2008.
He was elected to city council in 2005 to represent Jersey City’s Ward E and will seek to oust Mayor Jerramiah Healy, a Democrat who has held the post since 2004.
“We’re happy that Steve has made enough money to leave the 1-percenters on Wall Street,” said Jennifer Morrill, the mayor’s spokeswoman. “But clearly he lives in a reality far different than the majority of Jersey City residents who cannot afford to take a year off from work.”
Fulop offered to release his tax records, if the mayor does the same, to show voters who makes more money.
“I promise his entire household income is greater than mine,” Fulop said.
Healy’s current salary is $119,963 a year, Morrill said.
Fulop’s candidacy was reported earlier today by PolitickerNJ.com after he posted a statement on his campaign website.
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