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Article: African Americans and the financial services industry. (Industry Report: Financial Services)
- Article from:
- The Black Collegian
- Article date:
- October 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 IMDiversity, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Introduction and Background
Before 1970, there were relatively few African Americans employed in professional positions in the financial services industry. Commercial banks, brokerage houses and investment banking firms recruited African Americans for the first time. Most of these institutions were unaware that their decisions would have a lasting effect on an industry traditionally the exclusive enclave of Ivy League educated White men. Twenty years later, while some African Americans are routinely courted by the nation's most prestigious financial institutions, they remain under-represented in the industry. What caused the change in attitude toward African ...