Richard M. Daley, the former mayor of Chicago, is venturing into the world of finance by launching a merchant bank alongside his son and a business associate.

The newly formed enterprise, named Great Lakes Global Partners, has established an online presence with a LinkedIn page. The initiative is a collaboration between Daley, his son Patrick Daley, and Adam Hitchcock, and is described as an “AI-first” business.

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According to its LinkedIn profile, Great Lakes Global Partners positions itself as a “special situations merchant bank” that operates where capital markets intersect with public policy. The firm plans to operate with a small team of two to ten employees.

The bank’s description emphasizes its focus on identifying and nurturing complex investment opportunities that traditional financial institutions might overlook. These ventures often require a blend of political insight and strategic execution. With operations extending across North America and Europe, Great Lakes Global Partners prides itself on an industry-neutral stance, seeking projects where financial and policy interests align. This venture combines the expertise and networks of Great Lakes Global Holdings and Tur Partners LLC, reflecting two decades of collaboration and friendship in government and finance sectors.

Richard M. Daley served as mayor from 1989 to 2011. He served on the Illinois State Senate from 1972 to 1980 and as Cook County state’s attorney from 1981 to 1989. His father, Richard J. Daley, served as Chicago’s mayor from 1955 to 1976.