75 Most Powerful Blacks on Wall Street

Whether they're in investment banking, sales and trading, asset management, or private equity, these power players move the financial markets

M. Lewis Jr. Managing Director & Co-Chairman, Investment Banking. Lazard Fréres & Co. L.L.C. New York, NY Age: 50. Bottom Line: Lewis joined the investment banking arm of this global financial services firm in 2004. By year-end 2005, M&A revenues at Lazard increased by 40% to $674.5 million. He spent the majority of his career at Morgan Stanley, where he was elected managing director in 1989, becoming the first African American to do so. Co-head of the Global Banking Department, Lewis’ department accounted for more than $2 billion in revenues.

William E. Lighten. Managing Director, Mortgage Capital Division/ Chairman & CEO, Lehman Brothers Bank FSB. Lehman Brothers Bank New York, NYAge: 42. Bottom Line: As global head of Lehman’s Mortgage Capital Division, Lighten has been instrumental in building the firm’s securitization and mortgage loan origination businesses worldwide. The industry veteran also serves as chairman and CEO of Lehman Brothers Bank FSB and a member of the firm’s powerful management committee. Over the course of his 15-year career at the investment bank, Lighten helped to build one of Wall Street’s leading structured finance franchises and remained as global head of the business for over a decade. Lehman Brothers has $20.6 billion in assets under management as of March 2006.

James Mason. Managing Partner Parish Capital Advisors L.L.P. Chapel Hill, NC. Age: 37. Bottom Line: In just three years, Mason and his partners have raised more than $1 billion and closed the first private equity fund. Set up as a fund of funds, Parish pumps money primarily into early-stage venture capital funds and small- and middle-market buyout funds. Parish’s portfolio includes Ascend Ventures, which has about $160 million in capital under management. Some of Mason’s experience stems from serving as an M.B.A. adviser. He was formerly director of private investments for Duke University Management Co., where he oversaw $2 billion in private equity.

Wendell McCain. Managing Partner Parish Capital Advisors L.L.P. Chapel Hill, NC. Age: 36. Bottom Line: McCain is recognized as a leader among emerging private equity managers. He has spent the last 10 years focused on alternate asset cla

sses. In his current position he seeks not only
to create wealth among institutional investors but to ultimately influence public policy decisions. The 2005 Eisenhower Fellow went to China to learn firsthand about the country’s economy. Prior to founding Parish Capital, McCain served as vice president of BancBoston Ventures, where his group managed a $600 million diversified private equity portfolio.

Reuben R. McDaniel III. Co-Chairman & President Jackson Securities Atlanta, GA. Age: 44. Bottom Line: With McDaniel at the helm, Jackson Securities has sustained double-digit revenue growth and diversified revenue streams by establishing a corporate finance group, an institutional sales and trading group, and a wealth management group. In June 2005, Jackson Securities, which ranked No. 7 on the BE INVESTMENT BANKS list that year, merged with Berean Capital Inc. to form a firm with greater geographic coverage. The result: a more than 13% increase in revenues.

Raymond J. McGuire. Managing Director &Co-Head, GlobalInvestment Banking Citigroup New

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  • Debbie Autrey

    I would like a copy of this issue. Please lmk how I can do that75 most powerful men on wall street—2006

    DA

  • Walter Webb

    BLACK WALL STREET HAS EVOLVED FROM ITS RICH HISTORIC BEGINNING IN DURHAM, NORTH CAROLINA, HARLEM, NEW YORK, AND OKLAHOMA. THESE STATES REPRESENT A FEW OF THE MANY WHICH HAS LEAD A NATIONAL MOVEMENT TO PUT AFRICAN AMERICANS CEO’S AND BUSINESS LEADERS TO THE FOREFRONT OF NATIONAL WALL STREET. CEO’S HAVE GONE FROM RUNNING AFRICAN AMERICAN COMPANIES TO MAKING HISTORY AS CEO’S IN NON-BLACK COMPANIES.
    COMPANIES RECOGNIZED IN THE HISTORY OF BLACK WALL STREET IN MENCHANICS&FARMERS BANK/NORTH CAROLINA MUTUAL LIFE INSURANCE (MFBP). COMBINED THESE TWO COMPANIES BROUGHT NATIONAL BLACK LEADER RECOGNIZATION TO NORTH CAROLINA’S DURHAM PARRISH STREET. FURTHER NORTH IN NEW YORK HAS CARVER BANK (CARV) HAS BEEN A PIONEER OF THE FAMED HARLEM RENAISSANCE
    MOVEMENT. THE MEDIA HAS BEEN A MAJOR FORUM OF EXPRESSION TO THE AFRICAN AMERICAN HOUSEHOLD. AND RADIO-ONE (ROIAK) PROGRAMMING OF RADIO AND TELEVISION HAS KEPT MANY BLACK HOUSEHOLDS IN THE CURRENT KNOW.
    REAL ESTATE AND LAND SECURITY WAS A MAJOR CONCERN FOR BLACKS EXPRESSING OWNERSHIP. AND ALONG WITH THE BLESSING OF THE BLACK BANKS HAS LEAD TO AFRICAN AMERICAN REAL ESTATE INVESTMENT FROM COMPANIES LIKE FORMER BLACK ENTERTAINMENT TELEVISION LEAD ROBERT L. JOHNSON. HE FOUNDED THE ROBERT L. JOHNSON HOTELS AND REAL ESTATE FUND (RLJ)WHICH MANY AFRICAN AMERICANS FEEL IS AN EXTENTION OF BLACK PROMISE LAND. INVESTING IN HIS COMPANY ALSO GIVES BLACKS A MINORITY STAKE (WHICH HE OWNS) IN THE NATIONAL BASKETBALL’S CHARLOTTE BOBCAT FRANCHISE.
    OKLAHOMA’S BLACK WALL ” GREENWOOD HAS PRODUCED A RICH HISTORY OF ENTREPRENEURS AND SPOKESPEOPLE LIKE JOHN HOPE FRANKLIN, FAME EDUCATOR AND TEACHER AT NORTH CAROLINA CENTRAL AND DUKE UNIVERSITIES. MR. FRANKLIN HARD WORK AND DECICATION BROUGHT BELOVEMENT AND AS A RESULT A DUKE UNIVERSITY BUILDING WAS NAMED IN HIS HONOR.
    A NEW MOVEMENT HAS USHERED IN A NEW BREED OF BLACKS OF WALL STREET. THESE CEO’S HAVE MADE NATIONAL HISTORY AS LEADERS IN NON-BLACK BLUE CHIP COMPANIES LIKE AMERICAN EXPRESS (AXP) KENNETH CHENAULT. HIS LEADERSHIP GOES BACK TO THE NINETEEN HUNDREDS AS A LEADER IN THE WORLD OF GLOBAL CHIEF EXECUTIVE OFFICERS. AND MAKING HISTORY ALONG WITH HIM IN TWO THOUSAND IS XEROX’S (XRX) FIRST AFRICAN AMERICAN CEO URSULA BURNS. MS. BURNS AND CATHAY HUGHES FROM RADION ONE HAVE PUT AFRICAN AMERICAN FEMALES TO THE FOREFRONT OF THE NEW YORK STOCK EXCHANGE-EURONEXT (NYX) WALL STREET. OTHERS INCLUDE RICHARD PARSON’S OF CITIGROUP (C). MR. PARSON COMPANY HAS BEEN A GLOBAL PLAYER IN THE WORLD OF FINANCE. AND HAS BEEN RESPONSIBLE FOR SUPPORT HISTORICALLY BLACK COLLEGES AND UNIVERSITIES WITH STUDENT LOANS. BRINGING COMPETION FROM AFRICAN AMERICAN CEO STANLEY O’NEAL OF MERRIL LYNCH (BAC).
    WE CAN LOOK FORWARD TO THESE AFRICAN AMERICANS AND INCREASINGLY MORE BECOMING A PART OF THE OLD AND NEW BREEDS OF WALL STREET.

    FREELANCE WRITER
    DURHAM, NC