Drexel Hamilton
| Company type | Private |
|---|---|
| Industry | Investment banking |
| Founded | 2007 |
| Founder | Lawrence Doll |
| Headquarters | New York City , United States |
Key people | Anthony Felice (CEO) |
| Products | Financial services, municipal bond trading |
| Owner | Military veterans (majority ownership transferred to employees in 2018) |
Number of employees | Not specified |
Drexel Hamilton is an investment banking company located in New York City, entirely owned and managed by military veterans, who represent sixty percent of its staff. The organization is committed to creating job opportunities within the financial sector specifically for veterans.
Background
Established in 2007 by Lawrence Doll, a disabled veteran of the United States Marine Corps and two-time Purple Heart awardee, Drexel Hamilton was founded to tackle the employment difficulties veterans face when moving into civilian professions. Doll, who subsequently pursued a career as a commercial real estate executive, financed the startup himself. The firm's name pays tribute to Anthony Joseph Drexel and Alexander Hamilton.
Following initial struggles, Doll recruited James Cahill, with prior experience at Salomon Brothers, Lehman Brothers, and Keefe, Bruyette & Woods. Cahill played a key role in attracting senior-level executives and closing significant transactions. By 2011, Drexel Hamilton secured its Financial Industry Regulatory Authority license, authorizing it to trade municipal bonds.
James Cahill held the position of president and CEO until 2017, after which Anthony Felice took over leadership. Early in 2018, Doll transferred majority ownership to long-standing employees, leading to operational restructuring. Drexel Hamilton holds minority business enterprise certification across various states and municipalities, boosting its competitiveness for government contracts.
Veterans training program
The company allocates one-fifth of its budget towards a training initiative designed to equip military veterans for careers in finance. Veterans who successfully clear regulatory exams such as the Series 7 gain interview opportunities with prominent financial firms including Goldman Sachs and JPMorgan Chase. Those who do not secure roles externally are employed by Drexel Hamilton.
Co-founded by Doll, the Wall Street Warfighters Foundation identifies prospective candidates for banking roles and subsidizes part of their training expenses at Drexel Hamilton. The remaining fees are covered through donations or paid by the participants themselves. Eligible veterans must have passed background screenings, completed honorable military service, and demonstrated an interest in finance. Foundation representatives conduct interviews at military medical centers to select individuals for a six-month program at Drexel Hamilton. The foundation is chaired by former U.S. Marine Corps General Peter Pace.