Paul Kelly C62 WG64, 81, passed away on March 4 in Westport, CT, from complications associated with COVID-19. He was born in Boston on February 18, 1940. Paul, wife Nancy, and their four daughters lived in Westport, CT, for over 30 years. Among Paul’s many contributions to Penn, he was a trustee emeritus of the University and overseer of its College of Arts and Sciences, as well as an advisor and director of the Huntsman Program in International Studies and Business. Notably, in 1998, he supported the University’s Kelly Writers House for literary discussions and social enjoyment for students.
Paul made significant impacts in finance by introducing new financing concepts to the capital markets, originating such financing techniques as commercial paper issuance and publicly issued preferred stock for bank holding companies, as well as short-term collateral trust notes for mortgage banking companies. In the early 1970s, he identified the yet untapped Japanese investment potential and formed his own merchant and investment banks, Peers and Co. and Knox and Co. In the 1990s, he expanded into the real estate market in New Zealand, where he developed a golf resort called the Carrington Club as well as Karikari Estate Vineyards.
(Photo: Al Filreis)
