SIEBERT FINANCIAL Business Summary

Siebert Financial Corp. (SIEB) operates as a diversified financial services holding company, generating revenue through transaction-based commissions, interest income, advisory fees, and principal transactions. The company’s business model is structured across several key segments: retail brokerage via Muriel Siebert & Co., prime brokerage through RISE Financial Services, investment advisory, and insurance services via Park Wilshire. Recently, the firm has aggressively expanded its revenue streams into institutional markets through its Capital Markets Group and Investment Banking division, while its securities lending (stock borrow/stock loan) operations have emerged as a primary growth engine. Positioned as a boutique, multi-asset alternative to industry giants such as Fidelity Investments, Goldman Sachs, and LPL Financial, Siebert differentiates itself by leveraging its 50-year legacy in retail brokerage to pivot toward institutional-grade digital asset research and technology-driven wealth management solutions. The company was founded in 1967 by Muriel Siebert, the first woman to own a seat on the New York Stock Exchange and a pioneer of the discount brokerage model. Since 2016, the firm has been under the control of the Gebbia family, with John J. Gebbia currently serving as CEO and Chairman. The leadership team includes Andrew Reich as CFO and COO, and Raakhee Miller, who serves as CTO and President of Siebert Technologies, bringing a pedigree from Goldman Sachs and Morgan Stanley. Mark Malek leads as Chief Investment Officer, overseeing the firm’s quantitative and robo-advisory infrastructure. Siebert’s strategic direction is guided by a board that includes majority shareholder Gloria E. Gebbia and independent directors such as Lewis W. Solimene Jr. and Hocheol Shin. A notable institutional partner and investor is South Korean fintech leader Kakao Pay, which entered a strategic investment agreement in 2023 to accelerate Siebert’s global digital transformation and market reach.