Muriel Siebert, recognized as a pioneering figure in finance, is the focus of a new exhibit at Harvard Business School’s Baker Library. The exhibition, titled “Muriel Siebert: Redefining Power and Possibility on Wall Street,” explores her career and the impact she had on opportunities for women in the financial sector. The materials featured are part of the Muriel Siebert Collection, which was donated to Baker Library by the Muriel Siebert Foundation in 2019.
Siebert was born in Cleveland, Ohio, in 1928. She attended Flora Stone Mather College with plans to become an accountant but left school during her junior year to care for her father after he became ill. Her first visit to New York City’s financial district came in 1953. Recalling that moment in her autobiography, she wrote: “What I saw as I looked down from the visitors’ gallery was a sea of men in dark suits. But after absorbing all that fierce energy, I turned to my friends and said, ‘Now, this is exciting.’”
After moving to New York City in 1954 with $500, Siebert struggled initially to find work before joining Bache & Co. as a research trainee earning $65 per week. She quickly learned about market analysis and developed a reputation for her analytical abilities. As she advanced through several brokerage firms, Siebert faced significant gender discrimination.
“Mentors for women didn’t exist when I started on Wall Street,” she wrote. “It makes you a feminist when you’re making $150 a week and the man sitting next to you is making $300.”
“When I applied for a seat on the exchange, there was an uproar. Some people who felt that women should not be admitted to the stock exchange came to me and said so. But for every one person who resented my action, I found there were others who were happy for me. . . . I did a lot of soul-searching and talked to some of my other clients and I worked up enough strength to approach the exchange.”
In 1967, following encouragement from a client and discovering no rule barring women from buying seats on the New York Stock Exchange (NYSE), Siebert purchased her membership for $445,000—equivalent to over $4 million today—and founded her own firm.
She soon gained recognition as an industry trailblazer and was invited twice within five years to speak at Harvard Business School—first in 1968 shortly after purchasing her NYSE seat, then again as keynote speaker at a program focused on women’s impact in business.
During her address at Harvard Business School in 1972 she remarked: “When I received the invitation to speak here — I thought of the Virginia Slim Cigarette Ad — You’ve come a long way baby. As a woman who has succeeded in a man’s world — I’d like to say ‘Baby — you’ve got a long way to go.’”
In 1977 Siebert became Superintendent of Banks for New York State—the first woman appointed to this position—overseeing approximately 500 institutions with assets totaling around $400 billion and trust accounts worth $100 billion.
While serving as superintendent and running for U.S. Senate (she lost the Republican primary), Siebert placed control of her company into a blind trust but returned after her campaign ended. She expanded her firm by opening new offices and introducing technological innovations such as early computerized trading platforms.
Reflecting on decisions throughout her career she stated: “When I left my position with New York State, I had some offers from major firms. Had I taken any of them, I probably would have made a lot more money, but . . . I felt an obligation to other women. Had there been ten other woman-owned firms, I might have chosen differently.”
Siebert actively supported initiatives promoting women’s advancement in business; she helped found organizations including Women’s Forum and Committee of 200. In 1990 she established the Siebert Entrepreneurial Philanthropic Plan (SEPP), directing half its post-cost profits from securities underwriting or purchases toward charitable causes.
“My motives have always been pride, principle and profit. I don’t know how you stay afloat and sleep at night without all three.”
“Giving back is more than an obligation, it’s a privilege,” she said.
Siebert received honors such as induction into both National Women’s Hall of Fame and International Forum Women’s Hall of Fame. In 2016—three years after her death—the NYSE dedicated Siebert Hall in recognition of her legacy; it remains the only room named after an individual within the Exchange.
The exhibition at Baker Library runs through December 2026.
