NEW YORK & LOS ANGELES--(BUSINESS WIRE)--Siebert Financial Corp. (Nasdaq:SIEB) and Kennedy Cabot Acquisition, LLC today announced the dedication of Siebert Hall at the New York Stock Exchange (NYSE) in honor of the late Muriel F. “Mickie” Siebert, who became the first woman to both own a seat on the NYSE and head one of its member firms, Muriel Siebert & Co., Inc., on December 28, 1967.
Jane Macon, Chair of Siebert Financial Corp. said, “Mickie liked to say that she came to New York City ‘with $500 and a used Studebaker.’ She overcame tremendous challenges to become a legendary Wall Street trailblazer, recognized as the ‘First Woman of Finance.’ We are delighted Mickie’s contributions have been acknowledged by the NYSE in such a historic way.”
The dedication of Siebert Hall is the first time a room at the NYSE, designated a National Historic Landmark in 1978, has been named after an individual.
Hosted by Tom Farley, NYSE Group President, the room features memorabilia from Mickie Siebert’s career gifted to the NYSE by the Estate of Muriel F. Siebert.
“When Mickie became the first female member of the NYSE in 1967, she shattered a glass ceiling on Wall Street,” said Farley. “So, when it came time to dedicate our newly-renovated meeting hall - a contemporary counterpart to our more traditional Boardroom - the progressive and ground-breaking Mickie was the obvious choice.” Gloria E. Gebbia, owner and managing member of Kennedy Cabot Acquisition said, “Mickie Siebert was courageous, savvy and pioneering, both as a woman and as a business person. My family and I are proud and humbled to continue her professional and charitable legacy. We believe she would be very pleased that the Gebbia family shares her passion for worthwhile causes.”
Muriel Siebert, who died in 2013, was also a pioneer in the discount brokerage field, transforming her firm into a discount brokerage in 1975 on the first day NYSE members were allowed to negotiate commissions. In 1977, she put her firm in a blind trust to serve as New York State’s first woman Superintendent of Banking for five years, and under her watch, not a single banking institution failed.
Throughout her career, Muriel Siebert was actively involved with a wide range of non-profit, civic and women’s organizations. In keeping with her personal vision, she worked tirelessly throughout her career to promote financial literacy.
Among Muriel Siebert’s many achievements, through the Muriel F. Siebert Foundation she focused on the development of the "Siebert Personal Finance Program: Taking Control of Your Financial Future,” a financial literacy program which has improved the lives of innumerable middle and high school students and adults by teaching them essential financial skills.
Muriel Siebert, who attended, but did not graduate from what is now known as Case Western Reserve University in her home town of Cleveland, Ohio, was awarded approximately twenty honorary doctorates and received multiple other awards and honors throughout her life.
She was described by the Encyclopedia Britannica as an “American business executive whose successful ventures in the realm of high finance helped expand opportunities for women in that field.” Muriel Siebert was chosen by Scholastic Inc., for its compendium, “100 People Who Changed America.” Other honors include the National Association of Women Business Owners First Signature Award for Lifetime Achievement as a pioneering women’s business owner; the National Museum of Women in the Arts which saluted her as a pioneer who has broken ground for women in civil society; and, acknowledgement from the Center for Educational Innovation-Public Education Association (CEI-PEA) for promoting financial literacy. Muriel Siebert was inducted into Junior Achievement’s U.S. Business Hall of Fame in 2009 and is featured in the “Women and Wall Street” permanent collection exhibit at the Museum of American Finance.
As the first woman selected as "one who has made a difference" for the Working Women's Hall of Fame, she was inducted into the National Women's Hall of Fame and The International Women's Forum International Hall of Fame. Muriel Siebert received The Athena Foundation's highest award given to those “who open the doors of leadership opportunity for women.” Among other honors, she received the Pride of New York Award, and, for championing financial literacy, both the First Lifetime Achievement Award from the New Jersey Coalition for Financial Education and the Eleanor Roosevelt Val-Kill Medal Award.
Muriel Siebert was widely interviewed on subjects pertaining to the financial system and markets. She testified on behalf of individual investors before Congress and her opinion was requested by the White House and policymakers at the highest levels of the US government on many substantive issues related to the financial services system and economy.
In November 2002, Simon and Schuster published her autobiography, Changing the Rules – Adventures of a Wall Street Maverick.
About Siebert Financial Corp.
Siebert Financial is a holding company that conducts its retail discount brokerage business through its wholly-owned subsidiary, Muriel Siebert & Co., Inc. The firm became a member of the NYSE in 1967, when Ms. Siebert became the first woman to own a seat on the Exchange. In addition, in 2014 the Company began business as a registered investment advisor through a wholly-owned subsidiary, Siebert Investment Advisors, Inc. Siebert Financial is based in New York City with additional retail branches in Boca Raton, FL and Beverly Hills, CA. www.siebertnet.com
About Kennedy Cabot Acquisition
Kennedy Cabot Acquisition is a Nevada limited liability company. The principals of Kennedy Cabot Acquisition have substantial experience in the brokerage industry and are/were affiliates of StockCross Financial Services, Inc. StockCross is a broker-dealer member of FINRA with offices across the United States.
Cautionary note regarding forward-looking statements
This communication contains “forward-looking statements” (as defined in the Securities Litigation Reform Act of 1995) regarding, among other things, future events. Words such as “anticipate,” “expect,” “intend,” “believe,” and words and terms of similar substance used in connection with any discussion of future plans, actions or events identify forward-looking statements. Forward-looking statements relating to the proposed transactions include, but are not limited to: statements about the benefits of the proposed transactions; Siebert Financial’s and Kennedy Cabot Acquisition’s plans, objectives, expectations and intentions; the expected timing of completion of the proposed transactions; and other statements relating to the transactions that are not historical facts. Forward-looking statements are based on information currently available to Siebert Financial and Kennedy Cabot Acquisition, as the case may be, and involve estimates, expectations and projections. Investors are cautioned that all such forward-looking statements are subject to risks and uncertainties, and important factors could cause actual events or results to differ materially from those indicated by such forward-looking statements. With respect to the proposed transactions between Siebert Financial and Kennedy Cabot Acquisition, these risks and factors could include, but are not limited to: securing regulatory approval; the risk that a condition to closing may be delayed or may not be satisfied; the diversion of management time on transaction-related issues; changes in the general economic environment, or social or political conditions, that could affect the business of Siebert Financial and the Broker-Dealer; and the potential impact of the announcement or consummation of the proposed transactions on relationships with customers, competitors, management and other employees.
Additional information concerning other risk factors is also contained in Siebert Financial’s most recently filed Annual Reports on Form 10-K, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other SEC filings.
Notice to Investors
This communication is provided for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any securities of Siebert Financial. The tender offer for the outstanding common stock of Siebert Financial not owned by the Estate has not yet commenced. Any offers to purchase or solicitation of offers to sell will be made only pursuant to the tender offer statement (including the offer to purchase, the letter of transmittal and other documents relating to the tender offer) which will be filed on Schedule TO by Kennedy Cabot Acquisition with the SEC, and soon thereafter Siebert Financial will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. Siebert Financial’s shareholders are advised to read these documents and any other documents relating to the tender offer that will be filed with the SEC carefully and in their entirety because they contain important information. Siebert Financial’s shareholders may obtain copies of these documents for free at the SEC’s website at www.sec.gov or by contacting Siebert Financial’s investor relations department at Siebert Financial Corp., 885 Third Avenue, New York, New York 10022, Attention: Investor Relations.