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

he asserts. “We have to be able to invest 24/7 and generate returns 24/7.”
With 45 employees, Maitland strives to recruit and retain self-motivated professionals in order to maintain ACM’s “effectively aggressive” culture. This formula has helped grow assets fairly dramatically to more than $3 billion since the firm’s inception. Maitland expects assets to grow

10% to 15% by year’s end. When not on the t
rading floor or cutting deals, Maitland collects works of art at gallery exhibits and donates funds to support organizations such as the Studio Museum in Harlem and the Apollo Theatre Foundation. Furthermore, his commitment to philanthropy has resulted in Advent Capital’s donation of $150,000 via the Red Cross toward the relief efforts in New Orleans. — Tennille M. Robinson

J. Derek Penn. Head of Equities Pershing L.L.C. Jersey City, NJ Age: 49. Bottom Line: The former head of equity and debt trading at Fidelity Investments joined Pershing in May. He currently manages more than 100 people involved in several trading floor operations and broker-dealer intermediaries, including NYSE, AMEX, NASDAQ, and NASDAQ International trading desks in New Jersey and London. His division primarily provides products for sell-side clients to use in their investment process. Penn notes Pershing’s equity division is $50 million and on its way to becoming a $100 million business. With an existing client base of 1,200 financial organizations, Penn’s agenda is helping the firm stretch into new territory.

JoAnn Price. Co-Founder & Managing Partner Fairview Capital Partners Inc. Farmington, CT Age: 56. Bottom Line: Considered one of the preeminent forces in minority venture capital investing, Price has been instrumental in investments for more than 100 venture capital and private equity limited partnerships. Fairview holds the coveted No. 1 spot on the BE PRIVATE EQUITY FIRMS list with close to $2 billion in capital under management. With 20 years of experience, she is an integral member of Fairview’s investment team and is considered the go-to source for raising capital in the fund of funds arena.

Michael Ray. VP, Head Equity Trader Legg Mason Capital Management Baltimore, MD Age: 41. Bottom Line: Ray is responsible for the trading of all of the Legg Mason Capital Management equity mutual funds and oversees the trading of the Value Equity and Legg Mason Mid-Cap separate account products. Over the last two years, through investment gains and client contributions, Legg Mason Capital Management has grown its assets under management from $40 billion to roughly $61 billion. A key transaction included Legg Mason Inc. swapping its capital markets division for Citigroup’s Asset Management division for a reported $3.7 billion. The deal was announced in June 2005 and was completed in the first quarter of this year.

James Reynolds. Co-Founder, Chairman & CEO Loop Capital Markets L.L.C. Chicago, IL Age: 52. Bottom Line: Under Reynolds’ leadership, and after only eight years in business, Loop has risen to No. 2 on the BE INVESTMENT BANKS list with $33.8 billion in managed issues. He administers all banking, trading, and institutional sales. Loop has served in significant underwriting roles, including

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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