In the Black : a history of African Americans on Wall Street / Gregory S. Bell.

Format:

Book

Author/Creator:

Bell, Gregory S.

Series:

Black enterprise books

Language:

English

Subjects (All):

African American capitalists and financiers--Biography.

African American capitalists and financiers.

Securities industry--United States--History.

Securities industry.

United States.

History.

Genre:

Biographies.

Physical Description:

ix, 294 pages : illustrations ; 24 cm.

Other Title:

History of African Americans on Wall Street

Place of Publication:

New York : Wiley, [2002]

Summary:

For nearly two centuries, Wall Street was the heavily guarded stronghold of one of the most exclusive, powerful, and wealthy clubs in the world -- America's financial elite. The story of the slow, painful, and truly inspiring progress of African Americans who established a foothold in the investment world has gone largely untold, until now. In the Black tells the heroic stories of intrepid pioneers who battled against overwhelming odds to prove that they had the intelligence, ambition, and drive to succeed in the heady world of high finance. Author Gregory Bell, the son of Wall Street pioneer Travers Bell, introduces you to scores of unsung heroes whose vision and tenacity opened doors for many who were to follow.

You'll meet H. R. George, whose success as a speculator in the 1920s earned him the nickname "The Black Wolf of Wall Street"; Thorvald McGregor and Lawrence L. Lewis, the first African Americans to become registered securities dealers; and June Middleton, who, in the early 1960s, became the only female African-American stockbroker employed by a New York Stock Exchange member firm. You'll also read the compelling story of Joseph L. Serales, the first African-American member of the New York Stock Exchange. Bell explains how his father, along with partner Willie Daniels, overcame prejudice, baffling government regulations, and a chronic lack of capital to make Daniels & Bell, Inc. the first black-owned firm to obtain a seat on the exchange. And he describes their extraordinary and successful effort to keep the firm afloat during the long recession of the 1970s.

More than a history of long-ago struggles and triumphs, In the Black tracks the progress of African Americans on Wall Street right up to the present day. You'll meet a new breed of African-American executive like Merrill Lynch's E. Stanley O'Neal, who, even now, is breaking down barriers, blazing new trails, and leading the way for future African Americans who dream of staking a claim on Wall Street. Bursting with inspiring stories, important lessons, and insights into the harsh realities of the financial world, In the Black is must reading for anyone interested in Wall Street's past and present. It also provides indispensable support for ambitious African Americans who struggle to succeed on Wall Street against still-considerable odds.

Contents:

1 The Beginning 15

2 Cold Calling 41

3 The Big Time 55

4 A Dry Husk 87

5 Rising in the Ranks 115

6 The Building 149

7 Money Managers 177

8 The Breakthrough 195

9 The Turmoil 217

10 The New Breed 247.

Notes:

Includes bibliographical references (pages 279-286) and index.

ISBN:

047140392X

OCLC:

48249080