Jane H. Macon Named Chairwoman; Robert Mazzarella Appointed Vice-Chairman
Siebert Financial Corporation [NASDAQ:SIEB] recently announced the appointment of Suzanne Shank as Acting CEO of the Company and its wholly owned subsidiary, the discount broker/dealer and institutional investment bank, Muriel Siebert & Co., Inc., effective September 16. The Company was founded by Muriel F. “Mickie” Siebert, who died on August 24, 2013. The board of directors named current board members Jane H. Macon as chairwoman, and Robert Mazzarella as vice chairman.
A 25-year veteran of the industry, Shank will also continue in her role as president and CEO of the municipal finance firm Siebert Brandford Shank & Co., L.L.C., which she co-founded with Muriel F. Siebert and Napoleon Brandford in 1996. Siebert Brandford Shank, which is 49% owned by Muriel Siebert & Co., has had aggressive growth since its inception, managing deals for state and local governments across the country totaling over $1 trillion in municipal transactions. The firm is the top-ranked minority- and women-owned municipal bond underwriting firm in the country and is the only minority and women-owned firm ever nationally ranked in the top 10 among all such firms in the country.
Shank has received numerous awards and honors throughout her years in the finance industry, including being voted one of the “Top 50 Women in Wealth Management for 2010” by WealthManagerWeb.com and by US Banker magazine as one of the “Top 25 Nonbank Women in Finance” October 2009 and 2010. Ms. Shank was also recognized by Essence magazine in its “2008 Power List;” by Black Enterprise Magazine as one of the “50 Most Influential Black Women in Business” and as one of the “75 Most Powerful Blacks on Wall Street.” Shank was also selected by the Wharton School of Business from among 100,000 graduates as one of its “125 Influential People and Ideas.” In June, she received the National Association of Securities Professionals (NASP) prestigious Entrepreneur of the Year Award. Ms. Shank is a graduate of The Wharton School, University of Pennsylvania with a Master of Business Administration degree in Finance, and the Georgia Institute of Technology with a Bachelor of Science degree in Civil Engineering.
“I am deeply honored to be named Acting CEO of the Company founded by Wall Street Legend Muriel F. Siebert,” said Shank. “Mickie was not only a trailblazer on Wall Street but a wonderful partner, mentor and friend. Our partnership was extremely successful as we shared a penchant for sound business practices and integrity in the industry.”
Shank expects a seamless process for Siebert client services during the transition into her new role as acting CEO as she continues to lead Siebert Brandford Shank in a period of strong growth. In the coming months she will outline her plans for the company, and will meanwhile work with the current leadership team and the board of directors to continue to provide excellent customer service to the firm's many clients.
“We are extremely pleased to have Suzanne as our CEO, and with her considerable expertise and experience, we are confident she will provide strong leadership and strategic vision to grow our business while furthering the important values and devotion to client services established by Mickie,” said Jane H. Macon, chairwoman.
Jane H. Macon became a director of Siebert Financial Corp. in 1996. She has been a Partner in the law firm of Fulbright & Jaworski L.L.P., San Antonio, TX since 1984. Ms. Macon centers her legal practice on public finance and administrative law, public and private partnerships, real estate, zoning, platting, condemnation and municipal bonds. Robert Mazzarella, vice chairman, retired from Fidelity Investments Brokerage Services LLC in January 2002, at which time he served as its president. He became a director of Siebert Financial Corp. in 2004. Currently Mr. Mazzarella serves as a director and as a member of the audit and compensation committees of Placemark Investments, Inc., a registered investment adviser in Wellesley, MA and Investors Capital Holdings Ltd., in Lynfield, MA.