NEWS & MEDIA
NEWS & MEDIA
Siebert Brandford Shank & Company Honors the Life of Wall Street Pioneer and Legend, Muriel Siebert, on Her Passing
The partners and employees of Siebert Brandford Shank and Company, co-founded by Muriel F. Siebert, honor the life of this great woman who was a financial industry leader, philanthropist and trailblazer. Ms. Siebert (80), passed away on Saturday, August 24 at Memorial Sloan-Kettering in New York City.
Muriel F. Siebert, a founding partner in SBSCO, was involved in the financial services business for over 40 years as analyst, broker, investment banker and regulator. In December 1967 she became the first woman to own a seat on the New York Stock Exchange (NYSE). At the time there were 1,365 male members of the NYSE. She incorporated her firm, Muriel Siebert & Co., Inc. (Nasdaq: SIEB) in 1969.
In 1975 she announced that her firm would become one of the industry’s first discount brokerage firms, a move vehemently opposed by most of Wall Street and today is an industry standard. In 1977 she was appointed New York State Banking Commissioner where she served for five tumultuous years during a fiscal crisis, regulating over $500 billion of bank assets. In 1996 she co-founded Siebert Brandford Shank & Company with Napoleon Brandford and Suzanne Shank. SBSCO quickly rose to be the number-one-ranked minority and women owned municipal investment banking firm, a position it has maintained since its inception.
“Muriel Siebert was a financial industry legend who took on Wall Street’s then all-male establishment and proved to be an immense success,”
said Suzanne Shank, Co-Founder and President/CEO of SBSCO
. “By her sheer tenacity and financial smarts, Mickie showed the world that women could be a success on Wall Street and in-turn opened doors and career opportunities for generations of women who today are leading some of the most important companies our economy depends upon. She was a dear friend and mentor to me and an inspiration to many more.”
Napoleon Brandford III, Co-Founder and Chairman of SBSCO said
, “It has been a great honor to partner with Muriel Siebert for the last 17 years. The achievements and accomplishments during her remarkable life are something for the history books. Her lifelong commitment to opening doors for women and minority business leaders led not only to the birth of Siebert Brandford Shank & Company, but energized many young women and minority students, who today have unlimited career options that just did not exist when Mickie began blazing the trail.”
The death of Ms. Siebert, whose role was as an investor in the firm, will not alter the day-to-day management or operations of SBSCO. Suzanne Shank, the company's long-time President and CEO will continue to serve in that capacity and continue to lead the firm, while Napoleon Brandford remains as Chairman.
In 2010 Siebert Brandford Shank earned the distinction of becoming the first minority-owned firm to be among the top 10 municipal bond underwriters as ranked by the Bond Buyer. Since its inception in 1996, the firm has served as a managing underwriter for municipal bond transactions exceeding $1.2 trillion, served as managing underwriter for $67 billion in 2012 alone, and is ranked among the top 10 in seven key infrastructure categories. SBSCO maintains 21 offices nationwide. It is dually headquartered in New York and Oakland.
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© 2010, Siebert Brandford Shank & Co., LLC - Member FINRA and SIP
© 2011 Siebert Brandford Shank & Co., L.L.C. - Member FINRA and SIPC