Women's History Month: 4 Female Financial Pioneers

Women's History Month: 4 Female Financial Pioneers

February 25, 2022

For decades, women have been making their mark on the business world, overcoming struggles and adversity to be able to get the same recognition as their male counterparts. In the world of finance, the process has been slow, but the pioneering efforts of many women throughout history have helped to change that, allowing women to take top positions in finance around the world. Below are a few of the most well-known financial female pioneers who helped to pave the way.

1. Abigail Adams

The wife of President John Adams, Abigail Adams, was known for her intelligence and pushback against social norms. She was a smart investor and known as one of the first women bond traders of the time. She more than doubled her investments through bond trading and used a lot of her gained wealth to help women in need.1

2. Gail Pankey-Albert

Known as a Wall Street Pioneer in the 1970s, Gail Pankey-Albert worked for the New York Stock Exchange directly out of high school as she could not afford to attend college. She worked her way up through the ranks from a carrier and computer operator until she became the first African American woman to hold a seat on the floor in 1981. Though colleagues often challenged her, she stuck it out and eventually launched her own institutional trading firm.1

3. Sufia Khatun

After accepting a small loan in 1974, Sufia Khatun found herself at the center of the “microlending” movement. Khatun, at the time a poor mother of two, was struggling to get by running a small business making bamboo stools in south Bangladesh. After accepting the loan from economics professor Mohammad Yunus, she was able to defy the odds and lift herself from poverty. Khatun serves as one of the earliest examples of the benefits of microlending in the developing world, with Yunus eventually founding Grameen Bank and receiving the Nobel Peace Prize in 2006 for his work.

4. Barbara Provost

Barbara Provost has used her work through her company Purse Strings to provide financial resources to women, allowing them to make well-researched financial decisions and work toward a brighter financial future. The company provides women with the tools and resources they need to find the proper financial products and services for their goals. It also provides a list of approved professionals who are able to help with women's unique and diverse financial needs.3

Important Disclosures:

All information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy.

This article was prepared by WriterAccess

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Footnotes:

1Celebrating Women Pioneers in Finance, Commonwealth.com, https://www.commonwealth.com/insights/celebrating-women-pioneers-in-finance

2Microfinance in America?
https://www.forbes.com/sites/elmirabayrasli/2012/03/26/microfinance-in-america/?sh=18bd9e3346e8

3Female Finance Superpowers: Women Who Changed the Finance Market, Yahoo, https://www.yahoo.com/now/female-finance-superpowers-women-changed-230732046.html