She is the person responsible for "Making the New York Stock Exchange co-ed on Dec. 28, 1967". Wall Street in the 60's was strictly a man's territory, so much so that there were no women's restrooms on the exchange floor! 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.
Finally, after being turned
down 9 times despite her sterling qualifications, Muriel Siebert became the first woman
to own a seat on the NYSE and the first to head one of its member firms, thus earning the title, "First Woman of Finance".
She later went on to become, among many other things, the first woman
Superintendent of Banking for the State of New York and was instrumental
in keeping New York's banks from collapsing by using measures others had
never dared before. She was also the first (not only the first woman but the first) to start a discount brokerage firm.
A favorite word of Muriel Siebert's is "risk." She has advised, "The men of the top of industry and government should be more willing to risk sharing leadership with women and minority members who are not merely clones of their white male buddies. In these fast-changing times we need the different viewpoints and experiences, we need the enlarged talent bank. The real risk lies in continuing to do things the way they've always been done."
When asked what her secret to success is, she said she
is willing to "take stands, take risks,
take responsibility -- and care deeply about how America's big institutions
affect the lives of individual people." True to her principles,
Siebert founded several philanthropic organisations and continues to donate
her time and money to charities and universities today. At TLE we believe in
the same set of ethics and entrepreneurial outlook. We also believe in
sharing and helping our youth see the many possibilities before them.
Paramount in our mission is to inspire and dare our youth to push beyond
today's limitations.
|