John J. Phelan Jr. Explained

John Joseph Phelan Jr.
Birth Date:7 May 1931
Birth Place:Manhattan, New York City
Death Place:Manhattan, New York City
Spouse:Joyce Phelan
Alma Mater:Adelphi College (BA)
Occupation:financier
Known For:introduced computerized trading technology
Term Start:1980
Term End:1984
Predecessor:No President between May 1972 and May 1980
Successor:Robert J. Birnbaum
Term Start2:1984
Term End2:1990

John Joseph Phelan Jr. (May 7, 1931 – August 4, 2012) was an American financier who served as president and later chairman and chief executive of the New York Stock Exchange, where he introduced computerized trading technology. Phelan's leadership tenure at the NYSE included the 1987 stock market crash, during which he declined to halt trading. Phelan's calm and confident manner was widely praised. After the crash, Phelan helped to implement trading curbs also known as "circuit breakers" to help prevent rapid stock selloffs in the future.[1]

Biography

Phelan was born in Manhattan, New York City, on May 7, 1931, to John Phelan Sr., a financier and member of the NYSE, and Edna Kelly. He started college in 1949, but left after two years to serve in the US Marine Corps. After returning from the Marines, Phelan went to work as a floor trader with his father's firm, Phelan & Co. and attended Adelphi University, where he received a bachelor's degree in business administration.

John Phelan Jr. died on August 4, 2012, in Manhattan, New York City at age 81 from cancer.[2]

References

  1. News: John J. Phelan Jr., ex-chairman of New York Stock Exchange, dies at 81. The Washington Post. 2012-08-09. 2015-10-23. 0190-8286. en. Megan. McDonough.
  2. Web site: John Phelan, N.Y.S.E. Chief Who Ushered In New Technology, Is Dead at 81. DealBook. 6 August 2012 . 2015-10-23.