A History Of Women on Wall Street

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From Abigail Adams in the late 1700's to getting women the vote to Muriel Siebert, the first woman to hold a seat on the NYSE, this is an interesting overview of what it took to get Women on Wall Street. Presented by Gene Massey, CEO of MediaShares at the New York Nowstreet Symposium in December of 2012.

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A History Of Women on Wall Street

  1. 1. Dara Albright, NowStreet Founder
  2. 2. “Women Who Shaped Wall Street”
  3. 3. NO women on Wall Street (women did not work outside the home)
  4. 4. Abigail Adams, Wife of John Adams
  5. 5. Abigail Adams, Wife of John Adams John Adams, 2nd U.S. President
  6. 6. Abigail Adams, Wife of John Adams John Adams, 2nd U.S. President
  7. 7. Abigail Adams, Wife of John Adams John Adams, 2nd U.S. President24 % on Bond Investments
  8. 8. Abigail Adams, Wife of John Adams John Adams, 2nd U.S. President24 % on Bond Investments 2 % from Real Estate Investments
  9. 9. John Adam’s House (Women could not own property)Coverture was a legal doctrine whereby, upon marriage, a womans legalrights were subsumed by those of her husband.
  10. 10. This was at a time when women still wore Bustles and Corsets
  11. 11. Corset Bustle
  12. 12. Victoria Woodhull – Worked forWomen’s right to vote
  13. 13. Victoria Woodhull – Worked for Friends and co-worker withWomen’s right to vote Susan B. Anthony
  14. 14. Victoria Woodhull – In 1870 opened Financed by Cornelius Vanderbiltthe first woman-owned Brokerage
  15. 15. Victoria Woodhull – In 1872 ran Susan B. Anthony – Said womenfor President should be allowed to vote
  16. 16. Victoria Woodhull – Arrested a few Susan B. Anthony – Arrested for votingdays before the 1872 election In the same 1872 Presidential election
  17. 17. Women wanted to vote, property rights, and reproductive rights.
  18. 18. Hetty Green – . As a child, she read the financial pages to her father, andby the time she was 14, she stated that she knew “as much about financeas any man.” Unlike many women in her day, she managed her own money,and turned her comfortable inheritance into a fortune.
  19. 19. Hetty Green – The “World’s Greatest Miser” – Guinness Book of Records Richest woman in the world at the time - $200 million.
  20. 20. Hetty Green – The “Witch of Wall Street”One obituary for Green noted that “many of her personality traits would have beenconsidered unremarkable if they had been found in a man.”
  21. 21. Susan B. Anthony died in 1906, Women still could not vote. Thisprotest at the White House on July 14, 1917 resulted in 16 arrests.
  22. 22. Protests continued
  23. 23. Protests continued
  24. 24. Any Wall Street jobs for women were simple and undesirable.
  25. 25. Finally, on August 26, 1920, the 19th Amendment was passed that allowed women to vote.
  26. 26. Finally, on August 26, 1920, the 19th Amendment was passed that allowed women to vote.
  27. 27. During the “roaring twenties” things were looking up….
  28. 28. Isabell Benham - Working for years for a boss whom she said “made life difficult,” Benham went on to become one of the most distinguished railroad analysts onWall Street and the first woman to be named partner at a Wall Street bond house.
  29. 29. Isabell Benham at 100 in 2009 -Isabell Benham - Working for years for a boss whom she said “made life difficult,” Benham went on to become one of the most distinguished railroad analysts onWall Street and the first woman to be named partner at a Wall Street bond house.
  30. 30. Betty Freidan’s 1963 book became a sensation—creating a social revolution bydispelling the myth that all women wanted to be happy homemakers. Friedanencouraged women to seek new opportunities for themselves.
  31. 31. Betty Freidan – Founded National Organization for Women in 1966. She alsofought for abortion rights by establishing the National Association for theRepeal of Abortion Laws (now known as NARAL Pro-Choice America).
  32. 32. Trading Floor
  33. 33. Muriel Siebert – December 28, 1967 –First woman to obtain a seat on theNew York Stock Exchange – She had trouble getting the loan for the $445,000
  34. 34. August 26, 1970 – 50 Years after the right to vote
  35. 35. “An attractive girl with hazel eyes and ash-blonde hair…It is distracting to have sucha pretty girl – a trim 5 feet 3 inches tall in a size 7 dress….”
  36. 36. Terms: “Sexist” and “Sexism” – first used in 1968
  37. 37. The Problem
  38. 38. The Illusion
  39. 39. Muriel Siebert – First woman to own a seat on the New York Stock Exchangehttp://video.answers.com/muriel-siebert-first-lady-of-wall-street-517470734
  40. 40. In 1990 Muriel Siebert created the Siebert Entrepreneurial Philanthropic Plan,through which she shares half of her firms profits from new securities underwritingwith charities of the issuers choices. The program offers buyers of new securities achance to help charities in their communities. Through 2006, more than $5 millionhas been contributed through this program.
  41. 41. As investors, men are more often looking for a quick “pop”
  42. 42. Women are more conservative, longer term investors
  43. 43. Would “Lehman Sisters” have failed?
  44. 44. Male-dominated Wall Street has not fully accepted women as equalsin running major institutions, there are nevertheless many powerfulwomen who have overcome prejudice and proven their capabilities...
  45. 45. Ellen Philip, CEO Ellen Philip Associates
  46. 46. “We may soon need affirmative action for men….” Michelle D. Bernard, CEO and President, Bernard Center for Women, Politics & Public Policy
  47. 47. Dara Albright, NowStreet Founder

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