Jay Walder

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Jay Walder
JayWalderWithMedia.jpg
Walder speaks with News 12 regarding the Port Jervis Line after Hurricane Irene
CEO of Bikeshare Holdings, Alta Bicycle Share
Incumbent
Assumed office
October 28, 2014
Chairman & CEO of the MTA
In office
2009 – October 21 2011
Governor Andrew Cuomo
Preceded by Elliot G. Sander
H. Dale Hemmerdinger (interim)
Succeeded by Joseph J. Lhota
Personal details
Born 1958/1959 (age 55–56)
Indianapolis, Indiana
Residence Hong Kong
Alma mater Harpur College
Harvard University

Jay Walder is the chief executive officer of Bikeshare Holdings, the owners of Alta Bicycle Share that run bike sharing programs -- including Citi Bike in New York City. [1] Walder had been CEO at Hong Kong transit company MTR Corporation, before resigning from that position in July, 2014 over a delayed high-speed rail link. [2][3]

Before joining MTRC, Walder was the Chairman and Chief Executive Officer of the Metropolitan Transportation Authority in the New York metropolitan area, the largest transit agency in the United States.[4]

Prior to his service at the MTA, Walder was the Managing Director for Finance and Planning at Transport for London until 2007, and is credited with the introduction of the Oyster card[4] and with drafting London's successful bid for the 2012 Summer Olympics.[5]


Biography[edit]

Walder greets Hurricane Irene evacuees at the Far Rockaway – Mott Avenue subway station.

Walder was born in Indianapolis and grew up in the Rockaways in the New York City borough of Queens, where he attended Beach Channel High School.[4][6] He attended Harpur College at Binghamton University, and received a Masters in Public Policy from the John F. Kennedy School of Government at Harvard University.[7]

Career[edit]

Walder worked for the MTA from 1983 to 1995, and later was the finance director for Transport for London.[5] He was a lecturer at John F. Kennedy School of Government at Harvard from 1995 to 2000, during which time he spent a year as a visiting lecturer at the National University of Singapore.[8] From 2001 to 2007 he was Managing Director for Finance and Planning at Transport for London. He was a partner at McKinsey & Company from 2007 to 2009.[9] In 2009, New York State Gov. David A. Paterson appointed Walder Chairman & CEO of the MTA (the positions of chairman and CEO of the authority had recently merged when the appointment was made). [10]

On 11 July 2011, Walder announced his resignation from MTA, effective in October 2011, when he moved to MTR Corporation in Hong Kong. He left on October 21st, 2011.[11] He officially took over as CEO of MTR on January 1, 2012.

With the aims to directly respond to what passengers ask to do more of, MTR has added more than 1,300 train trips per week to different lines by 2013. It has also opened five new lifts at five stations, providing more convenient connections for passengers, and installed more than 300 additional seats on platforms and along adits. [12]

In addition, MTR also introduced new mobile apps such as Next Train and MTR Tourist and added enhanced functions to existing app MTR Mobile so that timely train information can be provided to passengers via their mobile devices. The residents of Hong Kong have also seen increases in technical issues that caused major delays, along with the revelation of the cover-up of the high-speed rail delays with transport minister Anthony Cheung.[13]

While MTRC’s West Island Rail Line which is scheduled to commence passenger service by the end of 2014, it will be the first rail line opened by Walder since he was on board. [14]

In October, 2014, Walder was named CEO of Alta Bike Share, the company that runs the largest bike share systems in North Amirica. Dana Rubinstein of CapitalNewYork wrote:

"It’s official: Alta Bicycle Share, the company that runs Citi Bike, has a new owner, an infusion of cash, and a fresh face at the top — longtime transit executive Jay Walder. At a press conference this afternoon, the new team promised to correct Citi Bike’s blunders and double the system’s size by the end of 2017.

"The same ownership group will also be running Alta bike-share systems in Chicago, San Francisco, Washington, and Boston, among other cities. While today’s news signals potential changes in those cities as well, the most immediate changes — along with Alta Bicycle Share’s headquarters — are coming to New York.

"Citi Bike’s reboot has been months in the making. Top executives from Equinox Fitness, itself a division of real estate giant The Related Companies, burst onto the bike-share scene in April with an unsuccessful last-minute bid for Bixi, the bankrupt Canadian supplier of Alta’s bike-share components. Related execs resurfaced in July, when word came that they were on the verge of buying out Alta. After months of negotiations, the deal is now official, with a company backed by Related executives and other investors, called Bikeshare Holdings LLC, acquiring all of Alta Bicycle Share.

"Alta is getting a major cash infusion — $30 million from Bikeshare Holdings LLC, which is led by Equinox CEO Harvey Spevak, Related CEO Jeff Blau, and investor Jonathan Schulhof. Citi has extended its initial $41 million, five-year sponsorship of NYC bike-share by promising an additional $70.5 million through 2024, contingent on system expansion. Goldman Sachs Urban Investment Group, which has already helped finance Citi Bike, is increasing its credit line to Alta by $15 million. The deal includes $5 million from the Partnership Fund for New York City, an investment fund backed by the city’s big business coalition, to expand Citi Bike to more neighborhoods."

Cover-up of high-speed rail delays[edit]

In April 2014, at the Hong Kong transit company MTR Corporation, scandals were exposed after a two-year delay to high-speed cross-border rail link was revealed by local newspapers. [15] MTR Corp officials led by Walder were accused of concealing the progress of the project.[16] [17] Walder had been facing calls to quit after a report submitted to the Legislative Council said he had stopped the Secretary for Transport and Housing from telling lawmakers about the delay. At the time it was also confirmed that Walder would not be given a new contract when it was due to expire in August 2015.[18]

References[edit]

  1. ^ Chabán, Matt V. (28 October 2014). "New Leader Will Drive Expansion of Citi Bike". The New York Times. 
  2. ^ Rubinstein , D: Citi Bike’s new leadership: ‘We will overhaul every bike’ Oct. 28, 2014. Retrieved Oct 29, 2014.
  3. ^ Newman, Andy (2011-07-21). "Jay Walder, MTA Chief, Resigns Suddenly". The New York Times. Retrieved 2011-07-21. 
  4. ^ a b c Grynbaum, Michael M. (2009-07-15). "Man Who Lifted London Transit Picked for M.T.A.". The New York Times. Retrieved 2009-07-15. 
  5. ^ a b Castillo, Alfonso A. (2009-07-15). "Biography of MTA's new chief". Newsday. Retrieved 2009-07-15. 
  6. ^ Donohue, Pete (2009-07-15). "Incoming MTA chairman Jay Walder: Commuters will be top priority". Daily News. Retrieved 2009-07-15. 
  7. ^ "Governor Paterson Appoints Jay Walder to Serve as CEO and Chair of the Metropolitan Transportation Authority". New York State. 2009-07-15. Retrieved 2009-07-15. 
  8. ^ Yemma, John (1997-10-08). "Despite Critics of US Spending on Big Dig, Mass. Gives More Than it Gets". Boston Globe. p. A32. 
  9. ^ Castillo, Alfonso A. (2009-07-15). "This time, he's heading MTA". Newsday. p. A18. 
  10. ^ "Jay Walder Nominated To Be New MTA Chief By Gov. Paterson". Huffington Post. 2009-07-15. Retrieved 2009-07-15. 
  11. ^ "Head of MTA announces resignation". WABC. 2011-07-21. Retrieved 2011-07-21. 
  12. ^ "Listening ‧ Responding Programme 2012-2013". 2013-01-01. Retrieved 2013-01-01. 
  13. ^ "Get all MTR apps through one portal". 2012-10-01. Retrieved 2012-10-01. 
  14. ^ "MTR West Island Line Website". 2013-01-01. Retrieved 2013-01-01. 
  15. ^ "MTR could face bill for two-year delay to high-speed cross-border rail link". 2014-05-05. 
  16. ^ "Lawmakers blast MTR Corp officials over express rail line's delay". 2014-04-16. 
  17. ^ "Rail link farce as head of inquiry into MTR high-speed train delay quits". 2014-05-02. 
  18. ^ "MTR chief executive will not be given new contract in 2015, says chairman". Retrieved 2014-08-14. 

Further reading[edit]

Political offices
Preceded by
Dale Hemmerdinger
Chairman & CEO of the MTA
2007-2009
Succeeded by
Joseph J. Lhota