William A. Paine

William Alfred Paine
Born	January 29, 1855 Amesbury, Massachusetts
Died	September 24, 1929
Occupation	Investment banking, Stockbroker
Years active	1873 - 1929
Known for	Founder of Paine Webber

William Alfred Paine (January 29, 1855, Amesbury, Massachusetts – September 24, 1929) was an American businessman who co-founded the stock brokerage firm, Paine Webber.

He began his career in finance in 1873 as a clerk at a bank in Boston. In 1880, with a loan from his father, he partnered with Wallace G. Webber to create the brokerage firm, Paine, Webber & C. They became members of both the Boston and New York Stock Exchanges.

Paine in his later years c.1920

In 1887, William Paine married Ruth Felton Ward with whom he had two sons and three daughters. Outside of building a successful brokerage business, in 1899 William Paine invested in the Copper Range Consolidated Company, a major mining venture in the "Copper Country" of Michigan, for which he served as president. The town of Painesdale, Michigan was named for him and Freda, Michigan is named for his daughter.

After running his highly successful brokerage business for nearly fifty years, William Paine died just a few weeks before the Wall Street Crash of 1929. His son, F. Ward Paine, took over as head of the company.

References

• WILLIAM A. PAINE, BOSTON BANKER, DIES; Founder of Investment House of Paine, Webber & Co. Succumbs at 74 Years. New York Times, September 25, 1929