Goodbody & Company

:: Established 1891

:: Members of the New York Stock Exchange and other Principal Stock and Commodity Exchanges

:: At the time, the fifth largest stock brokerage in the country

 

Susan Playfair: Investment Executive

Despite the office manager's opposition to hiring a woman for the investment training program, I was offered the chance to work in the Boston office of Goodbody & Company, a member of the New York Stock Exchange, with the understanding that the firm would pay for me to become certified.

Under the tutelage of its largest producer of revenue, I learned to trade in futures, i.e. puts, calls, and straddles. Eventually, I became their first woman broker.

When I began working for Goodbody, the firm had 110 U.S. offices. Three years later, it was out of business, a victim of the pre-computerization 'Paperwork Crisis'.

The NYSE in 1971 still believed that its first duty was to the individual investor. To ensure that no Goodbody customer lost money, the other NYSE member firms were required to raise funds to cover the firm's losses. As far as I know, Goodbody was the first and last investment firm to protect the individual investor to that degree.

Merrill Lynch, Pierce, Fenner & Smith acquired Goodbody's accounts, and I moved on.


goodbody & co.