William Gresham O'Malley, executive

William Gresham O'Malley III, 83, of Villanova, a Philadelphia businessman and volunteer civic leader, died Sunday, Oct. 16, of prostate cancer at Bryn Mawr Hospital.

Known as "Gresh," Mr. O'Malley was born in Philadelphia, the fourth of eight children. He attended Waldron Mercy Academy and the Canterbury School in New Milford, Conn.

He graduated from the Wharton School of the University of Pennsylvania in 1954. While there, he pledged Zeta Psi fraternity and served two terms as its president.

His career began at Philadelphia businesses such as L.D. Caulk Co., Cities Service Oil Co., and Provident National Bank.

In 1967, he joined Montgomery Scott & Co., and two years later became a partner. In 1971, the firm merged with Janney, Battles & E.W. Clark Inc. to form Janney, Montgomery Scott Inc.

Mr. O'Malley served as senior vice-president and secretary of the merged company and on its executive committee until retiring in 1999.

He was a member of the American Stock Exchange and of the stock exchanges in New York, Philadelphia, and Boston.

A "pillar" of the Philadelphia business community, Mr. O'Malley "led organizations in the city with his business acumen, wisdom, integrity and long-term judgment," his family said in a tribute.

He sat on the board of directors of the National Securities Clearing Corp. in New York; the Transportation Mutual Insurance Co. in Boston, and the Quaker City Insurance Co. in Philadelphia.

He also served as a trustee of Magee Rehabilitation Hospital and Episcopal Hospital. From 1971 until just before his death, he was trustee to the Ardrossan Estate in Villanova.

Mr. O'Malley donated funds to many charities and educational institutions, including St. Malachy School and St. Martin de Porres School, both in Philadelphia.

He read widely and was familiar with poetry, art, drama, and history. Near the end of his life, he recited Henry Wadsworth Longfellow's Evangeline from his hospital bed, and listened intently while others read to him once he could no longer speak.

He was a regular on the tennis courts at Mill Dam, Merion Cricket Club, and the Racquet Club. He took biking trips through Morocco, France, Ireland, Vietnam, New Zealand, and India.

"He loved biking each summer at the Jersey Shore," said his sister Kristin Russo.

A devout Catholic, he had been active for 40 years in St. Katharine of Siena Church in Wayne. "His faith permeated who he was and his priorities. [In business] he had to make decisions that were not very popular, but he stuck to his guns because it was the right thing to do," his sister said.

Mr. O'Malley married Joan Tyler Montgomery Wheeler in 1964. The couple had three children.

Besides his wife and sister, he is survived by children Inez B., William Gresham IV, and Andrew W.; four grandchildren; a brother; and another sister.

A visitation starting at noon Saturday, Oct. 29, will be followed by a 12:30 p.m. Funeral Mass at St. Katharine of Siena Church, 104 S. Aberdeen Ave., Wayne. Burial is private.

Donations may be made to St. Malachy School, 1012 W. Thompson St., Philadelphia, Pa. 19122, or the Canterbury School, 101 Aspetuck Ave., New Milford, Conn. 06776.

bcook@phillynews.com

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