Bloomberg News

Sally Lloyd, Early Female Trader With Smith Barney, Dies at 64

November 15, 2013

Sally Lloyd, an early woman on Wall Street who worked as an equity sales trader and rose to managing director at Smith Barney, has died. She was 64.

She died on Nov. 11, according to a death notice in the New York Times. The cause was cancer. She lived in New York City, Bridgehampton, New York, and Vero Beach, Florida.

The daughter and granddaughter of banking executives, Lloyd pursued a Wall Street career of her own after an upbringing that included being presented at the 1966 Debutante Cotillion in Morristown, New Jersey.

As a secretary in Smith Barney’s institutional sales research department, she applied for a job on the sales-trading desk in the early 1970s, a time when “there were minimal ladies in that end of the business,” recalled Jacques Theriot, who ran equity sales trading at the time and chose Lloyd from the pool of 10 to 12 young applicants.

“She developed into a first-rate sales trader handling responsibility of execution for a variety of small and major investing accounts,” Theriot said today in an interview from his home in South Carolina.

He said Lloyd was the primary trader for the state of Florida’s account, backup for Citicorp’s account, and shared responsibility with him for T. Rowe Price Group Inc. They sat next to each other on the sales desk.

Theriot estimated that Lloyd became one of about 25 female managing directors at Smith Barney, out of about 250 people with that title.

‘Man’s Business’

“She was really one of the best operatives and sales traders, in my opinion, one of the better on the street, certainly at Smith Barney,” he said. “She got to a senior level of responsibility and account coverage, and was great with young gals coming in to what had certainly been a man’s business.”

Smith Barney was long one of Wall Street’s leading brokerage houses, known among other things for its television advertisements featuring actor John Houseman intoning the slogan, “They make money the old-fashioned way. They earn it.” It became part of Travelers Group Inc., then Citigroup (C:US) Inc. and is now part of Morgan Stanley. (MS:US)

Sally Baker Hill was one of four children of Serge Jerome Hill and the former Priscilla Baker.

Her father was an executive and then a consultant at First National City Bank, which became Citibank, a predecessor of Citigroup. Her maternal grandfather, John Stewart Baker, was president and chairman of the executive committee of Chase Manhattan Bank, now part of JPMorgan Chase & Co., according to her 1976 wedding announcement in the Times.

Lloyd graduated from Miss Porter’s School in Farmington, Connecticut, and from Bennett College.

She joined Smith Barney in 1968, became managing director in 1986 and retired in 1994, according to the death notice.

Survivors include her husband of 37 years, Charles Ewing Green Lloyd Jr.; three children, Jennifer Lloyd Dance, Ewing McAllister Lloyd and Stewart Lathrop Lloyd; two brothers, Serge Jerome Hill Jr. and Robert Foote Hill; and a sister, Priscilla Hill Alexandre, according to the death notice.

To contact the reporter on this story: Laurence Arnold in Washington at larnold4@bloomberg.net

To contact the editor responsible for this story: Charles W. Stevens at cstevens@bloomberg.net


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