Reisman was born in Montreal and educated at McGill University. For the first 16 years of her career she was Managing Director of Paradigm Consulting, a firm she co-founded in 1979. In 1992, Reisman left Paradigm to become President of Cott Corporation. During her tenure as President, Cott grew from a Canadian-based regional bottler to the world's largest retailer-branded beverage supplier. In 1996, Reisman launched Indigo Books & Music Inc.
Reisman worked for Pierre Trudeau in his first election in 1965, and was the Liberal Party of Canada's policy chairwoman in the 1980s. She left the party in 2006 to support the Conservatives under Stephen Harper, because of his support for Israel during that year's conflict in Lebanon.
- McGill University - Former governor.
- Toronto Stock Exchange - Former governor.
- Magna International - Former board member.
- Suncor - Former board member.
- Rogers Communications Inc. - Former board member.
- Onex Corporation - Board member
- Right to Play - Board member.
- Mount Sinai Hospital - director.
- Bilderberg - Steering Committee member.
- Gerry Schwartz - husband.