75 Most Powerful Blacks on Wall Street - Page 13 of 19

75 Most Powerful Blacks on Wall Street

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