Sexism in the City : Women Stockbrokers in Modern Britain

Before stock exchanges even existed, women were prominent not only as investors, but as intermediaries, managing the investments of others. This book charts their lives and careers from the late nineteenth century through to their admission to the London Stock Exchange in 1973.

Sexism in the City is the first book to trace the history of women stockbrokers in the United Kingdom from the late nineteenth to the late twentieth centuries. Forgotten pioneers, these businesswomen fought against the odds to establish successful brokerages across the country and in the process, challenged society''s beliefs about women and money. The book also tells the story of how the nation''s stock exchanges denied them membership for generations, mobilizing increasingly desperate arguments to try to justify their exclusion, until women finally won the right to join the London Stock Exchange in 1973. Though historians have recently reassessed women''s role in the development of capitalism, highlighting their roles as investors and entrepreneurs, they have assumed that because women were not members of stock exchanges, they were not active as financial intermediaries until modern times. By spotlighting the lives and careers of women who worked as stockbrokers outside male-monopolized institutions, this book reframes the historical development of finance in several ways. It highlights the extent to which the seemingly gender-neutral institutions and practices of finance were, in fact, based on gendered ideologies and exclusions. It argues that focusing on institutions only reveals part of the financial ecosystem, meaning that we miss what was happening outside the formal market. And it challenges London-centric interpretations of financial history, asking questions about the financial cultures existing outside the metropolis. If we look beyond the official exchanges--and beyond London--a more diverse financial environment comes into view. The history uncovered in Sexism in the City also helps to address problems with financial culture in the twenty-first century. Current reform initiatives are unlikely to succeed unless they acknowledge that for hundreds of years, professional identities and institutional structures in finance have been based on the denigration and marginalization of women. Acknowledging the efforts of those female stockbrokers who challenged misogynistic beliefs and defied men''s monopoly of high finance by forging their own careers is the first step towards imagining a different kind of market.