Harold E. Doley, Jr. (born March 8, 1947) is an investment banker and founder of Doley Securities, LLC., the oldest African American owned investment-banking firm in the United States. Doley Securities, LLC. provides investment products and services to institutional clients. Ambassador Doley serves as the Chairman Emeritus and Chief Compliance Officer of Doley Securities, LLC. Ambassador Doley guides the firm’s participation in tens of billions of dollars in transactions annually involving federal agencies, state and local governments, international entities, and corporate and institutional clients.
Ambassador Doley founded Doley Securities, Inc., in 1975. Doley Securities, LLC. has been housed for four decades in the Doley Building located in the central business district of New Orleans, Louisiana.
Doley Securities, LLC., a registered broker-dealer with the Financial Industry Regulatory Authority (FINRA), it is a member of the Municipal Securities Rule making Board (MSRB) and the Securities Investor Protection Corporation (SIPC).
In 1973, Ambassador Doley bought a seat on the New York Stock Exchange and is the only African American to have owned a seat (there are no longer NYSE individual memberships). He operated his membership as a Floor Broker, executing orders for other members and member firms on the floor of the NYSE. Ambassador Doley began his professional career in investment banking in 1968. He served as Vice President with major Wall Street firms prior to buying his own seat. He serviced institutional accounts of banks, insurance companies, and universities with portfolios totaling over $500 million. During this period, Ambassador Doley also affected and counseled on a number of mergers and acquisitions of life insurance companies. Ambassador Doley is the Co-Founder of the U.S. Africa Chamber of Commerce. He chaired the investment committee of Southern Africa Enterprise Development Fund's (SAEDF) private equity fund and placed the first black market maker on the Johannesburg Stock Exchange. Over the years he’s advised African stock exchanges and the regulatory bodies of those stock exchanges. Ambassador Doley was honored by his industry peers as an Outstanding Broker of the Year in 1971. The Dow Jones Wall Street Journal selected him as Stock Picker of the Year in 1990.
Ambassador Doley was accorded ambassadorial rank while serving as United States Representative to the African Development Bank and Fund (AfDB), from 1983 to 1985, once the U.S. became a stockholder in the bank. The AfDB, headquartered in Abidjan, Ivory Coast, is a development finance institution owned by the governments of 50 African and 25 non-African countries, with 800 employees, and assets of $50 billion. Ambassador Doley crafted and conveyed U.S. Government positions regarding AfDB financial proposals and policies. While at the African Development Bank and Fund, Ambassador Doley participated in the first $100 million placement for Africa. Upon returning to the private sector, he was the lead banker on the next $100 million private placement for the African Development Bank and Fund, 30-year paper (sold to TIAA-CREF). Ambassador Doley worked with African Heads of State and Ministers involved with commerce and international trade and development. His innovative and cutting edge proposals for increasing the capital base of the Bank led to more than tripling its authorized capital..
In 1982 Ambassador Doley was appointed the Founding Director of the Minerals Management Service (MMS) at the U.S. Department of Interior. Ambassador Doley managed MMS, an organization of more than 5,000 employees and a budget of $1.2 billion, and its collection of $12 billion in income due the United States Treasury. This represented the second largest income source to the U.S. Government. Mr. Doley had prior experience in this realm, having served in 1980 as a Board Member of the Louisiana State Mineral Board, a gubernatorial appointment.
Additional community and public service
Ambassador Doley has an extensive track record of community and public service, primarily focusing on education. He has been an appointee in five Republican Administrations; early in the 21st century Doley was appointed by then-President George W. Bush to the President’s Board of Advisors Commission on Historically Black Colleges and Universities. From 1970 to 1977 Ambassador Doley was an Instructor at Southern University in New Orleans, teaching one course per semester in Economics, Business Structure, or Money and Banking. His board-of-directors affiliations reflect his interest in education and his commitment to sustainable development in Africa. As a New York Stock Exchange member, Ambassador Doley hosted both President Frederick Chiluba of Zambia and President Festus Mogae of Botswana for the ringing of the closing bell of the NYSE; the first two African heads of state to have such a distinction. At the request of the Sisters of the Blessed Sacrament, a religious order founded by St. Katherine Drexel, Ambassador Doley underwrote the travel of one dozen nuns for St. Katherine Drexel’s canonization by the Vatican in the year 2000. He also provided the transportation to Native American tribesmen who were graduates of schools founded by St. Katherine Drexel on Native American reservations. The Doley Family was honored in a special mass during St. Louis Cathedral’s designation to Basilica (New Orleans, 1997) for their contributions. The Doley Family provided the Papal symbols of canopeum and tintinnabulum, necessary to meet the requirements of a Basilica. A sculpture dedicated in the St. Louis Cemetery No. 1 honors the Doley Family and its heritage in New Orleans, which dates back to August, 1720. Archbishop Alfred C. Hughes of New Orleans blessed the sculpture at a special ceremony with the family in 2008. Ambassador Doley is a member of the Council on Foreign Relations.
- Clark Atlanta University Board of Trustees Emeritus
- Interracial Counsel for Business Opportunity (ICBO)
- Youth for Johnson New Orleans, Co-Chair
- United Nations Commission on Disarmament Education, Conflict Resolution and Peace / International Association of University Presidents
- The Barnes Foundation
- The Smithsonian National Museum of African Art
- Corporate Council on Africa
- Africa America Institute
- International Advisory Group, Chairman (Present)
- Major stockholder in United Bank; now Liberty Bank & Trust, New Orleans
- Association of Public Broadcasters, National Board Member
- Board Treasurer of WYES New Orleans, a PBS affiliate (7 years)
- Co-Owner of Central Venture Capital Corporation; one of three African American owned and operated Minority Enterprise Small Business Investment Companies (MESBIC)
- Lead banker for Doley Securities, management and underwriting syndicates for billions of dollars for the African Development Bank and Fund
Most recent honors
- One of 50 Wall Street practitioners selected and interviewed by The New York Historical Society and The Narrative Trust for their piece titled: Remembering Wall Street: 1950-1980.
- Africa Economy Builders Award 2015 (African Development Bank Group)
- Business Leadership Award 2006 (Sports Foundation’s 17th Claude “Buddy” Young Dinner)
- Lincoln University Business Award 2004 (Outstanding African American Businessman within last 150 years)
- Thurgood Marshall Scholarship Fund Outstanding Service Award 2003
- Fortune Magazine 2003 Top Ten Minority Business Legends
- Founded Doley Foundation $5 million (Scholarships in Business and Internships for Thurgood Marshall College and its University)
- Inducted into the United States Small Business Administration Hall of Fame 35th Inductee
- Keynote Speaker Harvard Business School African American Student and Alumni at the association’s 33rd Annual Naylor Fitzhugh Dinner
- National Association for Equal Opportunity in Higher Education, Alumni of the Year
- Wall Street Journal 1990 "Stock Picker of the Year"
- Wall Street Journal front page, May 1983 (representing the United States at the African Development Bank and Fund)
- The Stock Market with Harold Doley, -WYLD radio 1969-73
- Harvard Graduate School of Business: Owner/President Management Program
- B.S. - Xavier University, New Orleans, Louisiana: Double Major in Accounting and Business
- Doctor of Humane Letters - Bishop College, Dallas, Texas
- Doctor of Laws - Clark Atlanta University, Atlanta, GA
- Doctor of Humane Letters - The Shaw University, Raleigh, North Carolina