Celebrating Women’s Month: World-Famous Female Traders
Forex trading is not particularly known for being a gender-balanced domain. While statistics aren’t available for this year, a recent study conducted by Broker Notes discovered that just 1 out of 7 online traders is female.
Believe it or not, the number has actually increased from 2017 when the same study revealed that only 1 in 10 traders was female. While this does indeed show progress, the industry is still “remarkably inhospitable to women” and remains “a testosterone-fueled subculture” that could use “a considered and ongoing rejiggering of the gender balance,” as Time magazine noted.
Bearing all of that in mind, in celebration of women’s month, let’s look over the world’s most famous female traders who have paved the way for women in the industry!
Geraldine Weiss, Investment Advisor
Probably one of the most famous investment stories in the world, Geraldine Weiss was one of the first women to make a name for herself in finance. Thanks to her education and her frequent eavesdropping on her parents’ conversations, she started her own investment newsletter at the age of 40, in 1966. To avoid gender discrimination which already happened when she was seeking a job in the field, Weiss signed her newsletter “G. Weiss.” It wasn’t until the mid-1970s that she revealed her identity, after achieving a consistently successful track record. Her strategy was known for dividend-oriented stock-picking. It’s currently used as a base for the newsletter that still exists.
Muriel Siebert, Brokerage Founder
Due to her perseverance, the brokerage firm Muriel Siebert & Co. which she founded in 1967 became the first woman-owned member of the New York Stock Exchange. A visionary broker, she transformed her company later on in a discount brokerage, a concept which was little known in 1975.
Sallie Krawcheck, Investment Advisor
Krawcheck’s name is mentioned almost any time the subject of Wall Street is discussed. Aside from her numerous high-level titles in top corporations and investment strategies for which she is revered in the financial world, she also launched a digital investment advisor for women. Krawcheck created Ellevest in an attempt to diminish the gender gap for this sector. She aims to empower women misunderstood by their advisors and offer them a place in this male-dominated industry.
Lubna Olayan, Stock Market Investor
Not only is she the queen of Saudi Arabia, but one of the most powerful women in the world, according to Forbes magazine. By the time her father gave her the leading position in the company, she was the only female working. She stepped in the family business in the early 1980s when it was not common or socially acceptable for Saudi women to work at all. Currently, Lubna Olayan has successfully brought several hundreds of women into the Olayan Financing Company workforce, while still respecting her country’s cultural norms.
Mary Callahan Erdoes, Investment Advisor
Another well-known Wall Street lady determined to help integrate women in the financial markets! Currently the CEO of J.P. Morgan Asset Management, at the time of her graduation from Georgetown University, she was the only woman to have completed a Major in Mathematics. Within the company, Erdoes initiated the J.P. Morgan Re-Entry program, a 14-week training experience, designed to help highly accomplished women who have taken a voluntary career break for at least two years return to the workforce full-time.