Muriel Siebert

Muriel Faye Siebert
Born	Template:Birth date Cleveland, Ohio, U.S.
Died	August 24, 2013(2013-08-24) (aged 84) Memorial Sloan-Kettering Cancer Center, New York City, U.S.
Occupation(s)	Entrepreneur, stockbroker, financial analyst
Known for	First woman to hold a seat on the New York Stock Exchange and to head one of its member firms

Muriel Faye Siebert (September 12, 1928 – August 24, 2013) was a pioneering American entrepreneur, recognized as the first woman to hold a seat on the New York Stock Exchange (NYSE) and to head one of its member firms. On December 28, 1967, she became part of the predominantly male group of 1,365 members. Although Victoria Woodhull had previously owned a brokerage, Siebert is frequently hailed as the "first woman of finance."

Biography

Siebert was born into a Jewish family in Cleveland, Ohio. She launched her professional journey working for several brokerage firms before establishing Muriel Siebert & Co., Inc. in 1967, concentrating initially on research and financial analysis trading. That same year, she pursued membership on the NYSE. Despite facing rejection from nine out of ten potential sponsors, she persisted. The NYSE required a bank letter guaranteeing a $300,000 loan toward the then-record $445,000 price for a seat; however, banks insisted on NYSE admission prior to issuing such guarantees. Ultimately, Siebert secured her membership on December 28, 1967.

In 1975, following the introduction of negotiable broker commissions, Siebert took a firm stance against discount brokers, criticizing their rates as "low ball." Two years later, in 1977, she was appointed as New York State's Superintendent of Banks, managing oversight of approximately $500 billion in banking assets. During her tenure, no banks failed within New York despite widespread failures across the country.

After completing her service at the Banking Department, Siebert returned to lead her firm. In 1982, she participated in the Republican primary for the U.S. Senate seat held by Daniel Patrick Moynihan, finishing second to Florence M. Sullivan. By the mid-1990s, her company merged via reverse acquisition with J. Michael & Sons, a furniture holding company undergoing liquidation, thus becoming publicly traded. Siebert continued as President and earned recognition as a knowledgeable commentator on financial markets. She also appeared in the 2003 documentary Risk/Reward.

Advocacy and philanthropies

Siebert was a prominent advocate for increasing representation of women and minorities within the financial sector. She maintained that incorporating female executives would enhance American businesses’ ability to compete internationally against nations such as Japan and Germany, where leadership roles were predominantly male. She encouraged leaders in both industry and government to adopt diverse viewpoints to expand talent pools and foster innovation.

In 1990, Siebert introduced the Siebert Entrepreneurial Philanthropic Plan, which allocated half of her firm’s underwriting profits to charities selected by securities issuers. This initiative allowed investors to contribute indirectly to community organizations and had donated over $5 million by 2006. She served as president of the New York Women's Agenda in 1998, championing programs aimed at improving women’s financial literacy—an effort that continued until her passing.

Her board memberships included The Economic Club of New York, The New York State Business Council, the Greater New York Council of the Boy Scouts of America, and the Guild Hall Museum.

Honors

In 1969, Siebert received the Golden Plate Award from the American Academy of Achievement. Between 1981 and 1983, she was recognized at "Women of Accomplishment" luncheons organized by Bonnie Tiburzi for the Wings Club.

She commemorated her 30th and 40th anniversaries on the NYSE by ringing the closing bell in 1998 and again in 2007. In 1994, she was inducted into the National Women's Hall of Fame, followed by induction into the Junior Achievement U.S. Business Hall of Fame in 2009.

Siebert was awarded honorary degrees from institutions including Wagner College, University of Rochester, Case Western Reserve University, Manhattan College, and University of North Carolina at Asheville.

In recognition of her legacy, the NYSE named Siebert Hall after her in 2016—the first space within the exchange to bear an individual's name.

Personal

Born on September 12, 1928, in Cleveland, Ohio, Siebert pursued her studies at Western Reserve University (presently Case Western Reserve University) between 1949 and 1952. However, she did not complete her degree, as she left to care for her ailing father. Throughout her life, she remained unmarried and did not have children.

Death

Siebert passed away at the age of 84 on August 24, 2013, due to complications related to cancer at the Memorial Sloan-Kettering Cancer Center. Her sister, Elaine Siebert, survived her.

External links

• Muriel Siebert Video created by Makers: Women Who Make America
• Interview with Muriel Siebert on Senior Women Web