Siebert, Muriel Faye, 1932-2013

Muriel Faye Siebert (September 12, 1928 – August 24, 2013) was an American businesswoman who was the first woman to own a seat on the New York Stock Exchange, and the first woman to head one of the NYSE's member firms. She joined the 1,365 male members of the exchange on December 28, 1967. Siebert is sometimes known as the "first woman of finance", despite being preceded in owning a brokerage by Victoria Woodhull.Siebert was born to a Jewish family[1][2] in Cleveland, Ohio.[2] Siebert began her career working at various brokerages.[3] 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. Of the first ten investors she asked to sponsor her application, nine denied her.[4] The NYSE itself insisted on a new condition before considering Siebert's application. It insisted that Siebert obtain a letter from a bank offering loans of $300,000 at the near-record $445,000 seat price. But banks would not commit to lending her the money until the NYSE would agree to admit her. Siebert finally was elected to membership on December 28, 1967. Shortly after returning to her firm, she ran in the Republican primary for the Senate seat of Daniel Patrick Moynihan. She finished second behind State Assemblywoman Florence Sullivan, who went on to lose to Moynihan in November 1982. In the mid-1990s, Siebert & Co. reverse merged with a furniture holding company, J. Michael & Sons, that was liquidating, thereby, becoming a publicly-traded company. Siebert remained President of her eponymous firm and continued to be a sought after commentator on phenomena in financial markets.Siebert was an outspoken advocate for women and minorities in the industry.