Pyne was educated at Christ's Hospital boarding school in West Sussex before emigrating to the United States in 1835.

[1] Upon arriving in the United States, Pyne joined his father-in-law's business Moses Taylor & Co. as a clerk, becoming a partner in 1842.

Pyne managed the sugar business while Taylor expanded the company into finance, iron, coal and railroads.

After the death of his father-in-law in 1882, Pyne became president of National City Bank, which was founded by Taylor in 1865, serving in that role until 1891 when he was succeeded by James Stillman.

[1] Their children included two sons and a daughter: Pyne died in Rome, Italy on Valentine's Day, February 14, 1895.