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Doley, Harold, Jr (1947- )

Ambassador Harold E. Doley, Jr is the founder of Doley Securities, LLC, the oldest African American owned investment banking firm in the nation. Doley is the only African American to have owned a seat on the New York Stock Exchange.

Born on March 8, 1947 Harold Doley was one of two boys born to Harold, Sr., a grocer and Kathryn Doley in New Orleans, LA. The Doley family has lived in Louisiana since 1720. The Doley’s had been free people before the Civil War and enjoyed the relatively liberal racial atmosphere of New Orleans as compared to other parts of the Southern United States.  Nonetheless they were always well aware of the disadvantages they faced. Amb. Doley attended segregated schools in the Louisiana area before matriculating at Xavier University in New Orleans where he majored in Accounting and Business Administration and started an investment club. He graduated from the Harvard University Graduate School of Business’s Owner/President Management Program an Executive Education Program.

Doley began his career as a stock trader working for Bache & Company Inc., a brokerage house in New Orleans in 1968 immediately after graduating from Xavier University. In 1973, he borrowed $90,000 and bought a seat on the New York Stock Exchange (NYSE).  Although there were two other African American firms holding seats on the exchange, Doleys move brought him national attention and with it an ever growing client portfolio. In 1975, Doley founded his own firm, Doley Securities, LLC.  Undaunted by those critics who said white people wouldn’t give money to an investment company founded by an African American, Doley proved them wrong by consistently making his clients wealthy. Doley also managed the merger of several National Insurance Association companies and helped found the Republic National Bank and later became the largest stockholder of the United Bank before its merger.

An active Republican, Doleys success attracted the attention of the Ronald Reagan Administration.  In 1981 he was named the Founding Director