Norma Yaeger, a pioneering female stockbroker who broke through significant barriers in the male-dominated financial industry of the 1960s, died June 3 in Los Angeles at the age of 96. Her daughter, Elysa Kaswan, confirmed that Yaeger had been receiving treatment for a respiratory virus prior to her passing.

Yaeger, born Naomi Hason on May 5, 1930, in Brooklyn, New York, began her Wall Street career in 1962 at Hornblower & Weeks, a brokerage firm in New York City. At the time, female stockbrokers were a rarity, and the New York Stock Exchange had recently sponsored an educational film, “The Lady and the Stock Exchange,” aimed at encouraging more women to participate in the stock market. Hornblower and a handful of other firms believed that hiring women could broaden their client base.

Initially motivated by the need to support her family rather than to challenge industry norms, Yaeger entered the profession despite the disapproval of her then-husband, Sam Nahmias, a garment factory cutter who had recently lost his job and preferred that she stay home to care for their three children. She later recounted in her 2012 memoir, “Breaking Down the Walls,” that her husband reacted bitterly upon learning she was earning more than him.

Yaeger faced considerable discrimination during her early career. During training, she was the only woman, and access to the exchange floor was initially denied to her due to superstitions among male traders who viewed female brokers as bad luck. She persisted and ultimately gained entry, setting a precedent for others to follow. Janice Traflet, a professor at Bucknell University who has studied women’s roles in finance, noted that Yaeger “helped open doors for other women” in the industry.

To establish a professional image, Yaeger invested in stylish attire, including an alligator-skin purse and multiple hats, believing that selling oneself was as crucial as selling investments.

Following a divorce and a remarriage to surgeon Lawrence Yaeger, she relocated to Los Angeles in the early 1970s. There she continued her brokerage career with Bear Stearns and Drexel Burnham Lambert before founding her own firms. In 1981, she established Yaeger Securities, which at its peak employed approximately 50 brokers. However, the firm encountered legal difficulties related to risky investments promoted by some employees and ultimately filed for bankruptcy in 1997. Yaeger’s second firm, Yaeger Capital Markets, proved more successful, and she sold it in 1998.

Yaeger’s early life was shaped by her Sephardic Jewish immigrant family. She was the eldest of four children. Her father, Samuel Hason, was born in the area now known as North Macedonia and worked in the garment industry, and her mother, Regina Abolafia Hason, was born in Turkey. Yaeger attended the City College of New York to study business before leaving to work as a department store buyer. She married Sam Nahmias in 1951.

Besides her daughter Elysa Kaswan, Yaeger is survived by her son Victor Nahmias, two stepchildren, five grandchildren, and two great-grandchildren. Her husband, Lawrence Yaeger, passed away in 2016.