Paul Kolton (June 1, 1923 – October 27, 2010) was an American reporter, mystery writer and public relations executive. He worked for the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

before becoming president and later chairman of the

American Stock Exchange NYSE American, formerly known as the American Stock Exchange (AMEX), and more recently as NYSE MKT, is an American stock exchange situated in New York City. AMEX was previously a mutual organization, owned by its members. Until 1953, it was known ...

, despite having no prior experience as a stockbroker. As chairman, Kolton oversaw the introduction of options trading.

Early life and education

Born on June 1, 1923, as Paul Komisaruk, he later adopted the surname Kolton as a

pen name A pen name or nom-de-plume is a pseudonym (or, in some cases, a variant form of a real name) adopted by an author and printed on the title page or by-line of their works in place of their real name. A pen name may be used to make the author's na ...

when he began writing mystery books. Raised in

Washington Heights, Manhattan Washington Heights is a neighborhood in the northern part of the Borough (New York City), borough of Manhattan in New York City. It is named for Fort Washington (Manhattan), Fort Washington, a fortification constructed at the Bennett Park (Ne ...

, Kolton served in the

United States Army The United States Army (USA) is the primary Land warfare, land service branch of the United States Department of Defense. It is designated as the Army of the United States in the United States Constitution.Article II, section 2, clause 1 of th ...

during

World War II World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...

. After completing his military service, he earned an undergraduate degree from the

University of North Carolina at Chapel Hill The University of North Carolina at Chapel Hill (UNC, UNC–Chapel Hill, or simply Carolina) is a public university, public research university in Chapel Hill, North Carolina, United States. Chartered in 1789, the university first began enrolli ...

in 1943.Kaplan, Thomas
"Paul Kolton, Who Led the American Stock Exchange, Dies at 87"
''

The New York Times ''The New York Times'' (''NYT'') is an American daily newspaper based in New York City. ''The New York Times'' covers domestic, national, and international news, and publishes opinion pieces, investigative reports, and reviews. As one of ...

'', October 29, 2010.

Career

Reporting and NYSE

After working as a reporter for ''

The Journal of Commerce ''Journal of Commerce'' is a biweekly magazine published in the United States that focuses on global trade topics. First published in 1827 in New York, it has a circulation of approximately 15,000. It provides editorial content to manage day-to ...

'' starting in 1946 and serving as an account executive at several advertising agencies, Kolton's first Wall Street job came in 1955 when he was hired by the public relations department at the New York Stock Exchange.Robards, Terry
"New Chairman of Amex; Paul Kolton"
''

'', July 28, 1972. Accessed October 30, 2010.

AMEX

He joined the American Stock Exchange in 1962 as its executive vice president. In 1971, he was appointed president the Amex, making him the first person to be selected from within the exchange to serve as its leader, succeeding Ralph S. Saul, who resigned in March 1971. In November 1972, Kolton was named the exchange's first CEO and the first salaried top executive. Although the American Stock Exchange was eventually purchased by the New York Stock Exchange (NYSE) in 2008, Kolton opposed the idea of a merger during his tenure, stating that "two independent, viable exchanges are much more likely to be responsive to new pressures and public needs than a single institution". Kolton announced in July 1977 that he would be stepping down from his position at the American Exchange in November of that year.via

Dow Jones Dow Jones is a combination of the names of business partners Charles Dow and Edward Jones. Dow Jones & Company Dow, Jones and Charles Bergstresser founded Dow Jones & Company in 1882. That company eventually became a subsidiary of News Corp, an ...

"Paul Kolton leaving Amex"
''

Pittsburgh Press ''The Pittsburgh Press'', formerly ''The Pittsburg Press'' and originally ''The Evening Penny Press'', was a major afternoon daily newspaper published in Pittsburgh, Pennsylvania, for over a century, from 1884 to 1992. At the height of its popul ...

'', July 17, 1977. Accessed October 30, 2010. Following his departure from the American Stock Exchange, Kolton served as chair of an accounting standards advisory organization and as a corporate director.

Personal life

A resident of

Stamford, Connecticut Stamford () is a city in Fairfield County, Connecticut, United States, outside of New York City. It is the sixth-most populous city in New England. Stamford is also the largest city in the Western Connecticut Planning Region, Connecticut, Weste ...

, Kolton passed away there on October 27, 2010, at the age of 87, from

lymphoma Lymphoma is a group of blood and lymph tumors that develop from lymphocytes (a type of white blood cell). The name typically refers to just the cancerous versions rather than all such tumours. Signs and symptoms may include enlarged lymph node ...

. He was survived by his wife, the former Edith Fromme, as well as a daughter, a son, five grandchildren and a great-grandson.

References

{{DEFAULTSORT:Kolton, Paul 1923 births 2010 deaths United States Army personnel of World War II American mystery writers Novelists from Connecticut Writers from Manhattan Deaths from cancer in Connecticut Deaths from lymphoma in the United States People from Washington Heights, Manhattan United States Army soldiers University of North Carolina at Chapel Hill alumni American male novelists 20th-century American novelists 20th-century American male writers Novelists from New York (state)