75 Most Powerful Blacks on Wall Street


David R. Jones

Co-Founder, President & CEO
CastleOak Securities L.P.
Age: 47

Sustaining an investment banking firm that had been launched not long before the financial crisis hit might sound like a recipe for disaster, but the young company’s timing actually helped it attract talented professionals who’d been downsized from the large institutions. And Castle-Oak Securities L.P.’s CEO David R. Jones continues to expand his company’s reach. “A lot of folks call smaller organizations like ours an eat-what-you-kill environment,” says Jones, who previously was head of Investment Banking and Capital Markets at Blaylock & Co. Inc. “People are attracted to that because if they’re bringing in business, they know how much it is and they know how much they’re going to get paid.

“We’ve grown tremendously because of the talented folks who have been available for us to hire,” says Jones, who now employs a staff of 55. “And the assets on Wall Street are its people.” Now with offices in New York; Chicago; Indianapolis; Atlanta; Cleveland; Columbus, Ohio; and Portland, Oregon, the 6-year-old firm (No. 3 in taxable securities with $3.6 billion in lead issues on the BE Investment Banks list) boasts significant underwriting deals. Among them was serving as co-manager on the Wells Fargo common stock issuance to raise more than $12 billion as part of its TARP, or Troubled Asset Relief Program, repayment plan authorized by the U.S. Treasury. Others include equity recapitalizations by GE ($12.1 billion) and Ford ($1.4 billion); and co-managing the re-IPO  of AIG ($8.9 billion), the IPO of Primerica ($320 million), and underwriting in General Motors’ IPO ($18.1 billion).

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