transition

Mamdani announces transition leaders, vows to deliver on ambitious agenda

Fresh off winning New York City’s mayoral election, Zohran Mamdani announced Wednesday that a team including former city and federal officials — all women — would steer his transition to City Hall, and that he would “work every day to honor the trust that I now hold.”

“I and my team will build a City Hall capable of delivering on the promises of this campaign,” the mayor-elect said at a news conference, vowing that his administration would be both compassionate and capable.

He named political strategist Elana Leopold as executive director of the transition team. She will work with United Way of New York City President Grace Bonilla; former Deputy Mayor Melanie Hartzog, who was also a city budget official; former Federal Trade Commission chair Lina Khan; and former First Deputy Mayor Maria Torres-Springer.

With his win over former Gov. Andrew Cuomo and Republican Curtis Sliwa, the 34-year-old democratic socialist will soon become the city’s first Muslim mayor, the first of South Asian heritage, the first born in Africa and the youngest mayor in more than a century.

He now faces the task of following through on his ambitious affordability agenda while navigating the bureaucratic challenges of City Hall and a hostile Trump administration.

“I’m confident in delivering these same policies that we ran on for the last year,” he said in an interview earlier Wednesday on cable news channel NY1.

More than 2 million New Yorkers cast ballots in the contest, the largest turnout in a mayoral race in more than 50 years, according to the city’s Board of Elections. With roughly 90% of the votes counted, Mamdani held an approximately 9 percentage point lead over Cuomo.

Mamdani, who was criticized throughout the campaign for his thin resume, will now have to begin staffing his incoming administration and planning how to accomplish the ambitious but polarizing agenda that drove him to victory.

Among the campaign’s promises are free child care, free city bus service, city-run grocery stores and a new Department of Community Safety that would expand on an existing city initiative that sends mental health care workers, rather than police, to handle certain emergency calls. It is unclear how Mamdani will pay for such initiatives, given Democratic Gov. Kathy Hochul’s steadfast opposition to his calls to raise taxes on wealthy people.

On Wednesday, he touted his support from Hochul and other state leaders as “endorsements of an agenda of affordability.”

His decisions around the leadership of the New York Police Department will also be closely watched. Mamdani was a fierce critic of the department in 2020, calling for “this rogue agency” to be defunded and slamming it as “racist, anti-queer & a major threat to public safety.” He has since apologized for those comments and has said he will ask the current NYPD commissioner to stay on the job.

Mamdani has already faced scrutiny from national Republicans, including President Trump, who have eagerly cast him as a threat and the face of a more radical Democratic Party that is out of step with mainstream America. Trump has repeatedly threatened to cut federal funding to the city — and even take it over — if Mamdani won.

”…AND SO IT BEGINS!” the president posted late Tuesday to his Truth Social site.

Mamdani, for his part, said at his news conference that “New Yorkers are facing twin crises in this moment: an authoritarian administration and an affordability crisis,” and that he would tackle both.

While saying he was committed to “Trump-proofing” the city — to protect poor residents against “the man who has the most power in this country,” as he explained — the mayor-elect also reiterated that he was interested in talking to the president about ”ways that we can work together to serve New Yorkers.” That could mean discussing the cost of living or the effect of cuts to the SNAP food aid program amid the federal government shutdown, Mamdani suggested.

“I will not mince my words when it comes to President Trump … and I will also always do so while leaving a door open to have that conversation,” Mamdani added.

Mamdani also said during his news conference and interviews that he had not heard from Cuomo or the city’s outgoing mayor, Eric Adams. He did speak with Republican candidate Curtis Sliwa.

A spokesperson for Cuomo, Rich Azzopardi, said he would “let their respective speeches be the measuring stick for grace and leave it at that.”

In his victory speech to supporters, Mamdani wished Cuomo the best in private life, before adding: “Let tonight be the final time I utter his name, as we turn the page on a politics that abandons the many and answers only to the few.”

Asked about the comments Wednesday on NY1, Mamdani said he was “quite disappointed in the nature of the bigotry and the racism we saw in the final weeks.” He noted the millions of dollars in attack ads that were spent against him, some of which played into Islamophobic tropes.

Izaguirre and Colvin write for the Associated Press. AP writers Jake Offenhartz and Jennifer Peltz contributed to this report.

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Cathay United Bank: Leading Asia’s Green Finance Transition and Building a Sustainable Finance Ecosystem

Focusing on Corporate Sustainability Transition

Seeing the appetite and potential among Taiwan SMEs for green and sustainable finance solutions, CUB has responded with a range of products and strategies that position the bank at the forefront of advancing Asia’s low-carbon future. 

In its home market, CUB focuses on the sustainability needs of SMEs, introducing various initiatives to support decarbonization and business transition. To enhance carbon reduction efficiency, CUB partnered with Taiwan’s first legal entity to obtain carbon inventory verification accreditation—the Metal Industries Research & Development Centre—to provide technical support and accelerate the industry’s transition to net-zero. 

CUB tailors engagement models based on industry type, company size, carbon emissions and ESG maturity, conducting thematic engagement scenarios to address practical decarbonization needs and strengthen clients’ net-zero capabilities. In December 2024, CUB launched Taiwan’s first “SME Sustainable Finance Partner Project,” offering incentives such as cash flow services, foreign exchange deposit benefits, and preferential lending rates to encourage SMEs to adopt greener practices. 

Additionally, CUB pioneered sustainability-linked payroll solutions, motivating corporate employees to participate in green business practices such as energy conservation and carbon reduction, thereby enhancing internal sustainability awareness. 

Exporting Taiwan’s Green Finance Know-how to Support Regional Transformation

In overseas markets, CUB focuses on the sustainability needs of project-based and large enterprises, promoting regional low-carbon transition through green loans, sustainability-linked financing, and social responsibility lending. 

In Singapore, CUB partnered with leading renewable energy company Apeiron Bioenergy at the end of 2023 to launch its first green trade finance facility. The full loan amount was dedicated to supporting the production of sustainable aviation fuel (SAF), demonstrating CUB’s concrete actions in the clean energy sector. 

In Vietnam, CUB structured several green loan initiatives, including green building financing for ICT sector companies, participation in a syndicated loan for VP Bank (with at least 50% of proceeds allocated to green or social projects), and sustainable financing for public water utilities and wind power development—highlighting its impact across diverse industries. 

Further reinforcing its commitment to green corporate finance in the region, CUB hosted the “ESG: Challenges and Practices in Sustainable Development” forum on Earth Day 2025 in Vietnam. The event gathered over 80 industry leaders to explore global and local ESG trends and challenges. The forum showcased CUB’s 20-year presence in Vietnam and its role as a key partner in corporate sustainability transformation. During the event, CUB introduced its “Cathay One” one-stop transition finance platform, designed to help enterprises conduct carbon inventories, formulate decarbonization strategies, and access green financing—enhancing their resilience and competitiveness in the face of climate risks. 

These achievements build on CUB’s milestone in 2022, when it became the first Taiwanese bank to sign a sustainability-linked loan in the Philippines, underscoring its determination and action in promoting green finance across Southeast Asia. 

Leading ESG Disclosure in Asia’s Financial Sector

CUB is the first commercial bank in Asia to participate in CDP’s Corporate Banking Programme, helping corporates systematically assess carbon emissions, climate risk management, decarbonization targets, and governance frameworks to meet growing transparency demands from global investors and supply chains. In 2024, CUB further distinguished itself as the only Asian bank invited to join CDP’s SME Technical Working Group.Through this opportunity, CUB provided insights and advice that helped shaped CDP’s approach to SMEs, including the development of the SME questionnaire. 

After the launch of the SME questionnaire in 2024, CUB invited over 150 companies to participate in the programme. Through the joint efforts of participating enterprises, CDP experts, and CUB colleagues, a total of 121 companies completed the questionnaire and received CDP scores—resulting in a response rate of over 80%, significantly higher than the global supply chain average of around 66%. Notably, 110 of these companies were first-time participants.

Growing regional reach 

“We are committed to building a sustainable financial ecosystem and working with corporate partners to achieve clean energy and climate action goals,” said Michael Wen, Executive Vice President from CUB. CUB will continue to leverage its financial capabilities and regional influence to drive sustainable development across Asia. 

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How to make a huge life change when everything feels too daunting

In 2012, Cassidy Krug competed in her first and last Olympics. Raised by two diving coaches, Krug was in diapers when she started dreaming of competing.

At 27 years old, she had a shot at the Olympic bronze medal but landed in seventh place instead. Krug decided to retire, something she’d already been considering for three years. But how do you move forward in life when diving is the only thing you’ve ever known?

Shelf Help is a wellness column where we interview researchers, thinkers and writers about their latest books — all with the aim of learning how to live a more complete life.

Krug tried to replace her passion for diving with a corporate career. But after seven years in advertising and brand strategy, she felt lost and without the purpose and motivation she’d once felt for her sport. Fascinated by the endless options of what to do next, Krug wrote “Resurface: A Guide to Navigating Life’s Biggest Transitions.”

The Times spoke with Krug about why we’re so resistant to uncertainty and what tools we can use to get comfortable with change.

This interview has been condensed and edited for clarity.

Why do you think transitions are an important part of life?

Transitions are an important part of life because they’re an inevitable part of life. An author named Bruce Feiler estimates that we have three to five “lifequakes” in our lives — major shifts that change our habits, our identities, our communities and our sense of purpose. These shifts are even more frequent now that it feels like the pace of change in the world is speeding up. The more we can embrace change, rather than try to hold on to our old ways, the more set up we will be to adapt and move forward.

Cassidy Krug

“During a transition, we often need to change our definition of success,” says Cassidy Krug, author of “Resurface: A Guide to Navigating Life’s Biggest Transitions.”

(Natalie Fong)

For this book, you interviewed people going through all kinds of life transitions, from changing careers to leaving prison. What did you find to be universal truths about these transitions?

There were two: that transitions take away our sense of community, and that during a transition, we often need to change our definition of success. Stanley — the man I interviewed who left prison after 20 years — told me that when he did, he lost the sense of camaraderie he felt while there. He also realized that he’d previously defined success by having a family and a stable job. When he left prison, he needed to redefine success to include the impact he’d had on other people’s lives while in prison. Though my experience was not the same, I also felt a huge loss of community and the need to redefine success while leaving diving.

In the book, you write that as humans, we are resistant to change and feel a need for certainty. Why are we so resistant to such an inevitable part of our lives, and how can we overcome this?

We often waver between the need for stability and a desire for change and growth. Right now, as a society, our expectations for certainty are ever-increasing. Twenty years ago, there were no dating apps that could assess my compatibility with a partner and no Yelp reviews that could predict if I’d like where I chose to eat dinner. Now with generative AI, there are many more avenues that market a false sense of security, and I think those avenues give us even more anxiety when it comes to the inevitable moments when we are uncertain. One way to fight that need for certainty is to put ourselves in difficult and uncertain situations. The ability to live in uncertainty is a muscle: The more we rely on external things to give us a sense of certainty, the less capable and the more anxious we feel when we don’t have those crutches around.

In the book, you write that a transition never ends. What do you mean by that?

I used to think of transitions as beginning, middle, end. Instead, psychologists use the phrases moving into, moving through, and moving out of to describe transitions, acknowledging that they rarely yield a clear-cut endpoint. My friend Nora, whom I write about in the book, expected that once she was in remission from cancer, she would move forward and thrive. In reality, she’s in remission, but she has brain fog, fatigue and lingering health issues that will change her life moving forward. The damaging and false expectation is that transitions end. Often, in reality, we don’t return to our previous state, and our transition instead ripples into our future — but that rippling change means ongoing growth and forward movement.

"Resurface: A Guide to Navigating Life's Biggest Transitions" by Cassidy Krug

In Cassidy Krug’s “Resurface: A Guide to Navigating Life’s Biggest Transitions,” interviewees range from a cancer survivor to injured athletes to a man starting over after 20 years in prison.

(Cassidy Krug)

How can we move forward after leaving something important to us behind?

Rituals are a great way to honor what we’re leaving behind, commemorate how it shaped us and help incorporate the lessons from it into our evolving identities. Just like holding a funeral for a lost loved one, people find creative ways to honor different parts of their lives coming to a close. One woman I interviewed who struggled with infertility threw herself a menopause party complete with tampons wrapped in ribbons and women telling their first period and menopause stories. [Author] William Bridges said that change is something that happens to us, and transition is how we choose to react to that change. I think there’s a third step to that — how we interpret that transition — and rituals can help us do so in a way that moves us forward.

What would you recommend someone do when they’re paralyzed by the thought of an upcoming change?

Firstly, I’d recommend someone reframe their anxiety by spinning those fears into opportunities. “I’m afraid to leave this job because I don’t know what will happen” can become “If I leave, there will be so many opportunities open for me, and I’m going to have my own back.” Secondly, it’s important to start with something small and concrete. The idea of finding a new passion is paralyzing, but asking yourself what you’re interested in and finding a small step you can take in the direction of exploring that interest feels much more manageable.

What would you say to someone who’s not sure if they’re ready to make a big jump?

An author named Annie Duke wrote a book called “Quit” — in it, she writes that by the time a decision appears to be 50/50, it is probably better for your upcoming happiness if you move on. We have a societal bias towards grit, and every success story seems to be of someone who had an idea and then overcame obstacles and then succeeded. Stories forget to include all the things that person quit before they chose and invested in the right path. We don’t quit nearly as often as we should, so if you’re thinking about quitting something, do it.

Now that you’ve finished writing your book, you’re going through a period of transition again. How do you feel about it this time around?

There’s grief and loss associated with all transitions. Something I have to remind myself of with each transition I face is that there will be a period where I don’t know what’s next, and that’s normal. Things aren’t supposed to last forever, and I have to remind myself to breathe into the opportunity that temporariness brings, rather than the fear. I think many of us are overwhelmed by possibilities — there are many things we could do, but we don’t know which path to take. I’m in the aftermath of a project I felt so certain about, and my instinct is to wait for that certainty to hit me again before taking a step in any direction. But if I do that, I’ll be waiting forever. What I need to do is ask myself is, “What am I curious about? What is driving me?” and then invest time into exploring it — that is how I’ll figure out what my passion is going to be next.

A swimmer diving into a transition in careers

(Maggie Chiang / For The Times)

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