Northeastern Board Member Since: January 2008
Muriel Siebert was the founder and president of the New York Stock Exchange (NYSE) brokerage firm that bears her name, Muriel Siebert & Co., Inc. She established the firm in 1967 when she became the first woman member of the NYSE, and transformed the firm into a discount brokerage house on May 1, 1975, the first day that NYSE members were permitted to negotiate commissions. Muriel Siebert and Co. was the only woman-owned NYSE brokerage firm with a national presence. Ms. Siebert oversaw the firm's day-to-day operations at its seven branches. The firm's Siebert Brandford Shank & Co., LLC municipal affiliate is ranked in the top 25 public finance firms in the country.
Ms. Siebert started her career as a $65 a week trainee in research at Bache & Co., and became an industry specialist (airlines/aerospace). She later became a partner at Finkle & Co., as well as at Brimberg & Co. She was born in Cleveland, Ohio, and attended what is now known as Case Western Reserve University. Although she did not graduate, she now holds 17 honorary doctoral degrees.
Before considering her for membership, the Stock Exchange imposed a new condition: she needed a letter from a bank saying they would lend her $300,000 of the near-record $445,000 seat price. But banks would not commit to lend her the money until the Stock Exchange would agree to admit her! It took many months to overcome this double-bind and find the needed bank loans and sponsors. Muriel Siebert finally was elected to membership on December 28, 1967. On December 28, 1997 she celebrated her 30th anniversary. To commemorate 30 years of service as the first woman member of the New York Stock Exchange, she was invited to ring the closing bell at the New York Stock Exchange (NYSE) on January 5, 1998. If you look closely, her dog, Monster Girl shared in this special event. See Picture.
Throughout her career, Ms. Siebert has been actively involved with a wide range of non-profit, civic and women's organizations. To name only a few of her affiliations, she is currently on the boards of 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. She is a member of the Council on Foreign Relations, the Committee of 200, an international organization of pre-eminent businesswomen, the International Women's Forum, and the New York Women's Forum of which she was a founder and former president. She is a former appointee to the New York State Commission on Judicial Nomination and the National Women`s Business Council and was a member of Deloitte & Touche`s Council for the Advancement and Retention of Women.
Ms. Siebert has received countless awards and honors throughout her career, including the first woman selected "as one who has made a difference" for the Working Women's Hall of Fame. In 1994 she was inducted into the International Women's Forum Hall of Fame in the National Women's Hall of Fame in Seneca Falls, NY. She was the recipient of the Sara Lee Frontrunner Award in Business which honors the service, accomplishments, and abilities of women who represent achievement and shape the future. She was honored at Mattel/Barbie's 40th Anniversary Gala as an "Ambassador of Dreams," representing women who have embraced the power of their dreams by becoming the very best in their chosen fields. She also received The Athena Foundation's highest award given to those "who open the doors of leadership opportunity for women." Her most recent honors include Town Hall Friend of the Arts Award, NAWBO First Signature Award for Lifetime Achievement as a pioneering women's business owner, the Iphigene Ochs Sulzberger Award for Contributions to Family Life from Inwood House, and the Pride of New York Award.
In November 2002 Ms. Siebert's autobiography, "Changing the Rules – Adventures of a Wall Street Maverick," was published by Simon and Schuster.
Muriel Siebert was a sought after speaker on current financial matters and a commentator on all of the financial news network