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From Wall Street Broker to First Woman of Finance - Muriel Siebert's Story

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Although she did not have a college degree, Siebert successfully became one of Wall Street’s most popular names.

Siebert is sometimes known as the "first woman of finance", despite being preceded in owning a brokerage by Victoria Woodhull.

In 1967, she founded her own eponymous firm, Muriel Siebert & Co., Inc., beginning by doing research for institutions, and buying and selling financial analyses.

That same year, she applied for a seat on the New York Stock Exchange (undefined). Of the first ten investors she asked to sponsor her application, nine denied her.

On December 28, 1967, Siebert became the first woman to buy a seat and become a member of the New York Stock Exchange.

For ten years, she was the only woman out of 1,365 men on the stock exchange.

Muriel Siebert Quote

In 1975, when the Securities and Exchange Commission first permitted broker commissions to be negotiable, she criticized the discount brokers vehemently; she ran numerous ads calling the discounters and the rates "low ball".

In 1977, she was named Superintendent of Banks for the State of New York, with oversight of all of the banks in the state, regulating about $500 billion.

Not one bank failed during her tenure, despite failures nationwide.

Siebert started the Siebert Entrepreneurial Philanthropic Plan in 1990 to help buyers give money to charities. She was inducted into the National Women's Hall of Fame.

Siebert remained President of her eponymous firm and continued to be a sought-after commentator on phenomena in financial markets.

In 2002, Siebert published her autobiography called Changing the Rules: Adventures of a Wall Street Maverick

In all, she was awarded 17 honorary doctorates.

Muriel Siebert died on August 24, 2013, from cancer. After her death, the New York Stock Exchange named a room after her. Siebert Hall was the first time a room at the stock exchange has been named after a person

As part of Women's History Month in 2019, TheStreet's Tracy Byrnes spent time on Wall Street. Watch her story on Muriel Siebert here:

TheStreet is celebrating female leadership and milestones on and off Wall Street during Women's History Month, Explore these video offerings: The First Female Stock Broker, The First Female President of an Exchange, and The Witch of Wall Street.

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