[1] Pesmazoglou studied economic sciences in Paris and in the beginning, he was employed at the Crédit Lyonnais bank in Alexandria, Egypt.

Pesmazoglou also founded the Privileged Company for the Protection of Currants (Eniaia or Eniea) as well as the Wine and Alcohol Company as measures to combat the acute financial crisis resulting from the plummeting prices of Corinthian raisins, one of the country's chief exports.

He also funded the establishment of night schools for the Athens Trade Employees Union.

From 1900 he became involved in politics, being elected a member of the Greek Parliament in 1905 and 1906,[2] representing Athens, Elis and Messenia.

His son Andreas entered the Greek Navy and died in 1927 at age 27 and Stefanos became a journalist, founding the newspaper Proia.