Mining the Hidden Gems

By Sharon Oswald

Simmons at work on the floor of the New York Stock Exchange in 2018. Photo by Associated Press

Sometimes the toughest days hold hidden gems. For Lauren Simmons, one in particular had left her feeling crushed. She had been trying for some time to find a job in New York City, and that day an encounter with a Wall Street executive resulted in one more rejection. To top things off, she dropped her phone — her lifeline — between the subway tracks on the way home. Yet that executive had offered to connect her with someone at the New York Stock Exchange, and with that contact, her life changed the very next day.

Simmons shared her incredible journey — from genetics student to a groundbreaking role on the floor of the New York Stock Exchange (NYSE) and on to Hollywood — with MSU students last spring. The 26-year-old came to the University as part of the Leo W. Seal Jr. Speaker Series, hosted by the College of Business, the Department of Finance, COB Diversity Dawgs and COB Ambassadors.

An everyday girl growing up in Marietta, GA, Simmons was raised by a strong, fearless single mother, who instilled in her three children the importance of taking risks in pursuit of their individual dreams. She is the twin to brother Lawrence, born with cerebral palsy, a disorder that is caused by damage to an immature brain during development. Although Lawrence was the extrovert in the family, he and his mother spent much of his younger days at the hospital or doctor. Simmons says the community gravitated to him because he was open about his disability and had a big personality. She was happy for Lawrence to be in the limelight and stayed in the shadow.

One day, she looked in the mirror and had a revelation. Simmons saw her brother as an outgoing, confident person who would probably never have the opportunities that she would, and she said to herself, “What is your excuse?” That was the beginning of Simmons’ amazing journey. When asked who inspires her, she is quick to reply, “Lawrence.”

In high school Simmons had the opportunity to study architectural engineering, which was by default because she was hoping for something else, but she grew to love it and wanted to make it her career. She had a love of numbers, and architectural engineering seemed to fit that bill. After not getting into an architectural engineering college program, she made what became the first of many career pivots. Simmons’ love of numbers and of her brother led her to major in statistics and genetics at Kennesaw State University instead. Near the end of college, she determined she would focus more on the statistics side to begin her career.

As a little girl, Simmons had always dreamed of living in New York City. So, upon graduation, in a big leap of faith, she packed up and headed north. She welcomed life in

New York with big ambitions, no job and a very special place to stay – with her beloved grandparents. Simmons didn’t have any connections and didn’t know anyone except her grandparents, but with her strong statistics background, she was confident she could get a job.

She began networking on LinkedIn, a tool she told MSU students is “your best friend.” She reached out to more than 300 firms, including L’Oréal and Goldman Sachs. Although she was constantly told that she did not have a clear vision, she had faith she would land a job that would complement her statistics background. Then one day, through a chance encounter, she met a man who worked on Wall Street who told her flat-out that his company would not hire her. But he also told her he knew a colleague on the trading floor, and if she wanted, he would set up a meeting for her. Feeling anxious, she went to the subway station to head home and dropped her phone between the tracks. She returned to her grandparents in tears. She felt defeated. Seeing her niece in anguish, her aunt, who was also there, went to the subway station and somehow retrieved her phone. Back in Simmons’ hands, the phone held a message asking her to come to the NYSE the very next morning. As she describes that situation, “life is intentional.”

The next day was the beginning of a life-changing event. She met a floor trader of 25 years and partner with the trading firm of Rosenblatt Securities, who was also a floor governor at the NYSE. She ultimately landed an interview with Richard Rosenblatt, CEO of the firm, who hired her for what would be a groundbreaking position. Simmons later learned that Rosenblatt hired her because she had the audacity to think she could work for the NYSE with no degree in finance and no connections. Obviously, he saw her potential.

Last Spring, Simmons came to Mississippi State as part of the Leo W. Seal Jr. Speaker Series.

Photo by Megan Bean

Before she could be a trader with Rosenblatt Securities, she had to pass the much-dreaded Series 19 exam, which had an 80 percent failure rate. Some of the men on the trading floor were openly betting on whether she was going to pass. Simmons wanted to prove to herself and her mother that she could do it, so contrary to just skimming the review book as recommended, she studied it from cover to cover. She passed on the first try, and at age 22, she broke the glass ceiling to become the youngest female trader at the NYSE and only the second African American woman trader in the Exchange’s 228-year history.

Despite her accomplishments, Simmons was paid a less than minimum wage salary of $12,000 annually – a salary much lower than her counterparts’. Regardless, she loved her first year and a half at the NYSE. She met a lot of people, and her colleagues would share trade secrets with her. She was a young African American female thriving in a “good ole boy” environment.

But suddenly things changed. Simmons’ story went viral, and she became a media sensation featured on the likes of CNN, ABC, CNBC and Fox. She was sometimes referred to as the “Wolfette of Wallstreet.” She became a media golden girl, and it was not long before she was getting attention from multiple Hollywood studio producers interested in making a movie about her story. The “shop talk” on the floor was now, “Why are they highlighting the least experienced person on the trading floor?” Colleagues began to pull away, and she was no longer one of “the guys.” When she decided to leave the NYSE after two years, only three people attended her going away party. But she had a new chapter ahead.

Today, Simmons is traveling the world as a keynote speaker, often accompanied by her grandmother. Her message is, “Believe in yourself, and don’t limit yourself to what feels comfortable.” She signed with a production studio who made her executive producer on a movie of her life, which she hopes will be out in 2022. She is currently the host of Going Public, a streaming series following the progress of five founder-entrepreneurs as they work to raise capital and take their companies public to NASDAQ through an IPO. For the first time, the series allows viewers to invest in IPOs at the IPO price.

Simmons has the poise and confidence of someone twice her age, and she has accomplished more as well. Lauren Simmons was not born into a life of privilege; she was a normal girl from middle-class Georgia. She had a strong woman in her life to inspire her, but her real inspiration was how her brother had overcome his disabilities. Simmons had a fire inside to live her life for both herself and Lawrence.

Her advice to students: “Let life happen. Be present in the moment. You don’t have to know all the answers, and it is okay to take a risk.”

Letting life happen and taking risks took Simmons to heights that she could never have imagined as that little girl in Marietta, GA. What is in store for her now? The sky is the limit! We cannot wait to find out.