Atlanta Free Speech would like to celebrate a distinguished financial and business executive, Dr. Edward D. Irons. Dr. Irons has a Doctorate of Business Administration in Finance from Harvard University’s Graduate School of Business. He is the first African American to receive a degree in finance from the university. Dr. Irons is also Dean Emeritus of Clark Atlanta University’s (CAU) School of Business. He is noted for assisting with the initial accreditation of both CAU’s undergraduate and graduate schools. Over the past 30 years, Dr. Irons has taught business organizational development and world banking classes to thousands of scholars.
Recently, Dr. Irons spoke at the Christians for Change Baptist Church Black History Program. There he discussed the current state of African Americans within the present financial economy. Dr. Irons is confident that he could properly run any major banking institution in the United States, since he and other members established a minority owned commercial banking institution—Riverside National Bank in Houston, Texas in 1964 where he served as President. This was the first African-American banking institution with a national charter in nearly 40 years.
In 1964, when Riverside National Bank was formed, there were only ten African-American owned banks in the United States, with a total of assets worth $70 million. Today, there are 180 owned minority banks within the United States, inclusive of blacks, with $70 billion in total assets. Liberty Bank & Trust Company is currently the largest black owned bank, which is in New Orleans, Louisiana with $600 million in assets.
Today, Dr. Irons feels there is not enough emphasis on economics, which should be our major objective. There is a great effort in creating economic institutions and building the accumulation of economic resources for blacks to be successful in their economic growth. However, within this framework, African Americans will continue to be overlooked. African Americans should strive for entrepreneurship and aim to develop products that can be sold internationally. In 1865, when slavery was legally abolished, the chains were no longer on our wrist, but ingrained in our minds. Many African Americans are trained consumers. For that reason, Dr. Irons explains that it does not make rational since for blacks to purchase from outside its own community. Therefore, in business, we should not limit ourselves and engage in markets outside of our community in order to prosper and grow financially.
Dr. Irons is a true financial teaching and wealth management pioneer. He is a champion of entrepreneurship and economic growth within the African-American community.
Dr. Iron’s book, Only by Grace, is currently available for pre-order.
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