Siebert Financial Corp

Siebert Financial Corp

Siebert Financial Corp traces its roots to 1967, when Muriel Siebert broke the gender barrier on the New York Stock Exchange floor. She built a discount brokerage that went public in 1996 and operated independently for decades. After Siebert's death in 2013, the firm passed through a period of proxy contests before landing under the control of the Gebbia family. Today, majority shareholder Gloria Gebbia and CEO John J. Gebbia run the company from New York. The firm operates three primary lines. The retail brokerage, Muriel Siebert & Co., provides self-directed trading and cash management accounts. Siebert's correspondent and prime services unit clears and custodies for other broker-dealers and funds, a higher-margin business that expanded through the 2023 acquisition of Gielding Capital. A registered investment advisor arm offers managed accounts. The geographic footprint centers on US markets, with operational offices in Jersey City and Miami. In early 2023, the firm partnered with Alta Trust to launch a crypto custody offering for institutional clients, signaling a push into digital-asset infrastructure. Siebert disclosed roughly $12 million in revenue for the first quarter of 2024, with customer cash sweep balances forming a material component of earnings. The company has used acquisitions to scale — it bought Retail-FX broker StockCross in 2019 and the prime brokerage assets of Gielding Capital in 2023. John Gebbia has publicly stated a goal of growing the clearing and custody business into a top-10 provider. The firm's 2023 annual filing showed a customer base concentrated in active traders and smaller introducing broker-dealers. In May 2024, the Gebbia family increased its equity stake through a private placement, reinforcing the control position they have held since 2016. What distinguishes Siebert is its identity as a publicly traded, family-controlled financial services company that competes against far larger clearing firms like Pershing and Apex. Its hybrid structure — a regulated broker-dealer inside a NASDAQ-listed corporation — creates distinct governance and capital-allocation constraints. The Gebbia family's majority ownership concentrates strategic decision-making, while the public float imposes transparency requirements uncommon among privately held competitors.