It’s often said that man makes the money but money doesn’t make the man. The famous adage is missing something important: women.
Though the mainstream media tends to gloss over women’s contributions in the financial sector, the fairer sex has helped shaped the industry. Some even accomplished those feats while raising children.
Women Have Pushed the Financial Sector to new Heights
The days of women being barefoot and in the kitchen gave way to shoulder padded suits in the 80s. Women have blasted through the glass ceiling with vigor, becoming business founders, CEOs and even Federal Reserve heads.
One need not look any further than Janet Yellen to measure the impact of women in American finance. Yellen, the first woman to reach the echelon of the Federal Reserve, is revered as an industry stalwart. She served as the Chair of the U.S. Federal Reserve Board of Governors from 2014 to 2018.
Maggie Lena Walker
Though Yellen is the most famous woman in American finance, others walked so she could run. Yellen stands on the shoulders of giants including Maggie Walker. Walker was the first woman to charter a bank in United States History.
Walker headed St. Luke’s Penny Savings Bank, working as the institution’s president. She kept the bank afloat amidst the 1929 stock market crash, eventually steering it toward a lucrative merger with The Consolidated Bank and Trust Company.
America’s First Woman of Finance
Muriel Siebert is the first woman to obtain a seat on the New York Stock Exchange (NYSE). She earned the seat in the late 60s, a period of history characterized by significant social change.
What makes Siebert so special is her bravery as the only woman on the trading floor populated by nearly 1,400 men. Her career arc expanded to opening a brokerage firm and serving as the New York State superintendent of banking.
Rosemary McFadden
McFadden started off as a New York Mercantile Exchange staff attorney and progressed to president. Her prominent post made her the first woman to ever serve as the head of a stock exchange. McFadden held the position for half a decade.
The Duchess of Dow Jones
Women earned the right to vote in 1920. Fast forward 47 years and Louise M. Weiser became the first woman to lead a prominent financial news media outlet. Nicknamed the Duchess of the Dow, Weiser served as the president of Dow Jones & Company.
Modern Female Financial Leaders Worth Mentioning
Women continue to make strides in the financial and business sectors. The likes of Hewlett-Packard CEO Carly Fiorina and Meta COO Sheryl Sandberg have made waves in recent years. Less prominent but equally important women such as Stacy Watkins are also worth mentioning. Watkins is the CEO and President of Lexicon Bank. She has three decades of banking experience, overseeing 74 locations with 400 members.
Women are the Financial Leaders of Today and Tomorrow
The message is clear: women are now on equal professional footing with men. The rise of the fairer sex gives hope to girls aspiring to pursue careers in finance. Girl power is the theme of the 2020s and beyond.
Featured image courtesy of iStock.