1 July 1961

Americans set up first Thai stock exchange

American businessmen Albert Lyman, William L. Nystrom, Willis Bird and others set up the country’s first stock exchange, with Lyman listed as the exchange’s chairman and managing partner.

The pioneering bourse was later replaced by a government-backed exchange, which began trading in April 1975. Lyman and others were representatives of a substantial group of American entrepreneurs who stayed in Thailand and Asia after the war years and helped to pave the way for trade between the United States and Thailand over the following decades.

‘Everyone said it couldn’t be done,’ Bird later told a reporter. ‘Thais had invariably financed their businesses with loans from uncles and aunts. But it’s amazing how quickly they can adapt.’

1 July 1961

Americans set up first Thai stock exchange

American businessmen Albert Lyman, William L. Nystrom, Willis Bird and others set up the country’s first stock exchange, with Lyman listed as the exchange’s chairman and managing partner.

The pioneering bourse was later replaced by a government-backed exchange, which began trading in April 1975. Lyman and others were representatives of a substantial group of American entrepreneurs who stayed in Thailand and Asia after the war years and helped to pave the way for trade between the United States and Thailand over the following decades.

‘Everyone said it couldn’t be done,’ Bird later told a reporter. ‘Thais had invariably financed their businesses with loans from uncles and aunts. But it’s amazing how quickly they can adapt.’