Muriel Siebert – The First Woman in Finance

Muriel Siebert – The First Woman in Finance

Muriel Siebert is known as the first woman in finance and as the first woman to own a seat in the New York Stock Exchange, a feat that was no easy task due to the discrimination and sexism she faced, prevalent at the times. She was also the first woman to be at the head of a New York Stock Exchange company and was the only woman among 1,365 coworkers who were men. She joined the NYSE in December 1967.

Muriel Siebert, nicknamed Mickie, was born in Cleveland, Ohio on September 12, 1928. She died at age 84 from cancer complications on August 24, 2013. The following text is dedicated to her inspiring story. Muriel Siebert was an acclaimed spokesperson, not only for her opinions on financial markets, but also for her support for the place of women and minorities in industry. She created the Siebert Entrepreneurial Philanthropic Plan and also contributed to putting in place the program Financial Literacy for Women.

Roses in a garden. Photo by Elena

According to her own account, she was advised by a friend or colleague to work for herself. The person had told her that was the only way she would get the pay, the respect and the satisfaction she deserved. Indeed, she opened her own company named Muriel Siebert & Co., she soon after applied for a seat at the NYSE. Since in those times sexism and discrimination were rampant, it was very difficult for her to obtain that position. But she persevered and got the seat. Interestingly, and sadly enough, of the ten men she asked to sponsor her application, only one accepted to do so.

In 1977, she entered the role of Superintendent of Banks, overseeing all banks of the New York State, which translated into managing or regulating roughly $500 billion. Not a single bank she oversaw failed during her tenure. Amazingly, she is quoted as thinking to herself that she did astonishingly well for a person who dropped out of college. She was educated in accounting.