Hernandez Challenges DiNapoli for State Comptroller Role

ALBANY – Joseph Hernandez, a Wall Street executive, is entering the race to challenge Tom DiNapoli, New York’s long-serving state comptroller. Hernandez argues that the comptroller’s position could be pivotal in curbing the influence of Mayor-elect Zoran Mamdani.

The son of Cuban refugees, Hernandez has built a career leading biotech and pharmaceutical firms. He previously ran as an independent candidate for mayor this year, but now aims to focus on state-level issues, especially concerning Democratic Socialist policies and waste management in agencies like the MTA.

“We can’t keep asking New Yorkers for higher taxes. I mean, seriously, we need to stop the financial drain,” Hernandez stated in an exclusive interview.

DiNapoli contended that he does not misuse his office’s influence over the substantial state contracts his office manages.

“I know what investing should look like because I’ve been in Wall Street for most of my career. I also understand auditing, and frankly, we’re not doing enough of it,” he elaborated.

Hernandez will run as a Republican against the incumbent Democrat. A recent Siena College poll indicates that only 35% of New Yorkers are familiar with DiNapoli, despite the significant authority of his role.

The state comptroller oversees most contracts exceeding $50,000, audits state and local governments, and manages New York’s substantial $291 billion pension fund.

“Honestly, the performance from the fund has been quite underwhelming,” Hernandez noted, suggesting improvements are needed. He pointed out that the fund’s return on investment was only 5.9% last year.

Hernandez envisions utilizing the pension fund to invest directly in regional economic advancements across the state. He questioned why DiNapoli hasn’t been more proactive in financing affordable housing and fostering new industries, especially in economically struggling upstate areas.

Support for Hernandez is already coming in from various sectors, including Francisco Marte, a former president of the New York Bodega Association. Marte emphasized that Hernandez “understands our community” and that his focus on accountability will benefit small businesses statewide.

Hernandez emigrated from Cuba in 1980 during a well-known boat lift, sharing, “When a self-proclaimed communist won the Democratic primary, I felt I had to step up to protect freedom and the American dream.”

DiNapoli, meanwhile, is gearing up for a three-way Democratic primary against Raj Goyle and Drew Warshaw.