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

Narcisse was tapped by Global Private Client president Robert McCann to fill his current role. Narcisse manages several concerns in his division, including business risk management, diversity, and technology to deliver integrated solutions for various strategic business initiatives. In the wake of allegations of racial discrimination, Narcisse has also been charged with leading the firm’s diversity efforts for the Global Private Client group. GPC provides investment, insurance, banking, and retirement services for individuals and businesses through 15,000 financial advisers. Assets in GPC accounts totaled $1.5 trillion in 2005.

J. D. Nelson. Founder & CEO RhumbLine AdvisorsBoston, MA Age: 66. Bottom Line: Nelson has built his firm into the nation’s third-largest black-owned asset manager since its inception in 1990. Nelson and his team manage more than $13 billion in domestic equity assets for 96 clients nationwide. What makes Nelson’s firm unique is that it focuses exclusively on passive base strategies. His financial prowess dates back to his days as senior vice president and the first director of Public Funds Services at State Street Bank in Boston as well as a stint as the administrator and chief budget officer for the Democratic National Committee.

E. Stanley O’Neal. Chairman, President & CEO. Merrill Lynch New York, NY Age: 54. Bottom Line: Since 2002, O’Neal has maintained his stature as the top-ranking African American in finance by overseeing the financial services giant. Merrill Lynch has offices in 36 countries and territories as well as total client assets of approximately $1.8 trillion. Firm-wide assets under management total $581 billion. O’Neal recently hired two high-profile individuals to help strengthen the firm’s relations with foreign governments and investors: William McDonough, former New York Federal Reserve president, who was brought on as a vice chairman and special adviser earlier this year, and former U.S. ambassador Richard McCormack, brought on as a vice chairman.

Tracy V. Maitland. Founder, President & Chief Investment Officer Advent Capital Management L.L.C. New York, NY Age: 46. Maitland is the powerhouse behind the $3 billion asset management firm that several multinational companies, foundations, and public pension plan managers call on to invest their money. Since its inception in 1995, Advent Capital Management’s investment strategy has successfully centered on an attractive asset class that is often overlooked: convertible securities. The firm also invests in high-yield and equity strategies. It offers clients a unique platform made up of customized separate accounts, hedge funds, and two closed-end mutual funds listed on the New York Stock Exchange: the Advent Claymore Convertible Securities & Income Fund (AVK) and the Advent/Claymore Enhanced Growth & Income Fund (LCM).
Maitland says the hedge fund business is about high performance. To that end, Advent has been expanding its international reach. He recently opened a London office to support European investments. There is also an Asian investment team that invests during Asian market hours out of the New York office. Maitland recently entered into a $100 million joint venture with a private bank in the Netherlands to focus on global investments. “We’re competing on a global basis,”

Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19
ACROSS THE WEB
  • 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