Muriel Siebert

Muriel F. Siebert changed the face of Wall Street in 1967 when she became the first woman to purchase a seat on the New York Stock Exchange—a bold move that redefined opportunities for women in finance[1]. Her decision to invest nearly $445,000 of her own money challenged centuries of male dominance and opened doors for generations to follow. Often referred to as “The First Woman of Finance,” Siebert’s brokerage firm was the first woman-owned NYSE-member, making her accomplishments both historic and practical in the world of financial services[4].

Siebert was born in 1928 in Cleveland, Ohio, where her early experiences shaped her determination and discipline[5]. Although she attended Western Reserve University, she left before completing her degree, a fact that later stood as testament to her unorthodox path in the business world. Undeterred, Siebert moved to New York City in 1954 with just $500, launching her career as a trainee research analyst at Bache & Company. Her formative years were marked by resilience and ingenuity, learning the ropes in investment analysis and gradually climbing to more senior positions in major securities firms[4].

In 1967, Siebert made headlines by purchasing her own seat on the New York Stock Exchange after ten men had refused to sponsor her application[1]. Two years later, she founded Muriel Siebert & Co., making history as the first woman to own and direct a brokerage firm with NYSE membership[3]. Her firm specialized in serving individual investors—a market segment largely overlooked by many traditional Wall Street players. Siebert advocated for discount brokerage and pressed for client-centric approaches in financial services. In 1977, she was appointed Superintendent of Banks for New York State—the first woman to hold this post. During her five-year tenure, no bank under her jurisdiction failed, emphasizing her effectiveness as a regulator[3]. Her insistence on gender equity was also literal: after years of campaigning, she finally secured a women’s restroom on the NYSE trading floor in 1987.

Siebert’s influence extended across finance and philanthropy. In 1990, she launched the Siebert Entrepreneurial Philanthropy Plan, designed to help new companies flourish by assuming underwriting risk for a reasonable fee[5]. Her foundation’s financial literacy programs reached middle schools, high schools, and adults, directly contributing to broader national financial education efforts[2]. She received the Corning Award for Excellence in 1993 from the Business Council of New York State and was inducted into the National Women's Hall of Fame in 1994. Siebert ran for the U.S. Senate in 1982, further demonstrating her commitment to public service and reform. She spent four decades on The Business Council Board and collaborated with leaders like Eric Mower, who credited her intelligence and character for creating her wide-reaching impact. Her quote, “You create opportunities by performing, not complaining,” continues to resonate with those seeking success in business.

Siebert never married nor had children, but was well known for the constant presence of her Chihuahua, Monster Girl, at meetings and events[5]. She was awarded 17 honorary doctorates and her autobiography, Changing the Rules: Adventures of a Wall Street Maverick, documents her experiences breaking barriers. After her death from cancer in 2013, the New York Stock Exchange dedicated Siebert Hall in her honor—a unique tribute acknowledging her role in transforming the industry[5]. Siebert’s legacy is measured by concrete improvements in finance, banking, and education, as well as by her influence on women’s rights. Her work enriched financial literacy among underserved groups and inspired countless women to seek leadership positions in finance. Inductions into halls of fame and being called “First Woman of Finance” are among the many honors recognizing a career dedicated to leveling the playing field and expanding opportunity[2].

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