ATLANTA -- Mervyn M. Dymally, a former U.S. Congressman and California lieutenant governor, joined New Orleans-based Doley Securities Inc. Friday as vice chairman.
Harold Doley, the firm's chairman. said Dymally will oversee a new branch office in Los Angeles as well as Doley's presence in Washington D.C.
"With Mr. Dymally joining the firm as vice chairman, we will expand our market in California an nationally." Doley said Friday. "He knows government, and he knows California and that should certainly help us become more active in the municipal market."
Doley asaid that Dymally will work with the firm's pension fund and international investment banking clientele as well as its public finance clients.
Doley Securities, a minority-owned securities dealer, was founded in 1976 in New Orleans. Besides the new California branch and its headquarters office. the firm has a branch office in New York City.
Dymally's background includes terms as assemblyman and state senator in the California Legislature between 1963 and 1975. He was lieutenant governor of California from 1975 to 1979, and a member of Congress representing Los Angeles from 1981 to 1992.
While in Congress, Dymally served as chairman of the subcommittee on Africa for the House Foreign Affairs Committee.
Dymally is also founder of Dymally International Group Inc., which has focused on development projects in Africa and the Caribbean. In addition, he is a distinguished professor at Central State University in Ohio.
He founded or served as founder or chairman of a number of organizations, including the Joint Center for Political Studies, Caribbean American Research Action, Inc., the Urban Affairs Institute, and the Congressional Institute for Science, Space, and Technology.
Dymally earned a BA in education and an MS in government from California State University and a doctorate in human behavior from U.S. International University in San Diego, Calif.
So far this year. Doley Securities has served as co-manager on a $149.9 million bond issue. giving it a ranking of 272th when full credit is given to each manager, according to Securities Data Co.
In 1992, Doley served as co-manager on three deals totaling $247.2 million for a ranking of 251. In 1991, the firm served as co-manager on seven deals totaling $827.1 million, for a ranking of 130, according to Securities Data.