Alden W. Clausen
Encyclopedia
Alden Winship "Tom" Clausen (born February 17, 1923) is a former President of the World Bank
.
to a family of Norwegian
ancestry and graduated from Carthage College
in 1944 with a B.A.
, again in 1970 with a LL.D.; from the University of Minnesota Law School
in 1949 with a LL.B.
; and from Harvard University
’s Advanced Management Program in 1966.
. He became Vice President in 1961, Senior Vice President in 1965, Executive Vice President in 1968, Vice Chairman of the Board in 1969, and President and CEO in 1970.
. He was replaced 5 years later by Barber Conable
.
in the United States
.
and was on the Board of Governors of United Way.
The A.W. Clausen Center for World Business at Carthage College
in Kenosha, Wisconsin
, is named in his honour.
The Clausen Center for International Business and Policy, at the Haas School of Business, University of California, Berkeley was endowed by a gift from Peggy and Tom Clausen in 1995. http://www.haas.berkeley.edu/HaasGlobal/
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
.
Education
He was born in Hamilton, IllinoisHamilton, Illinois
Hamilton is a city in Hancock County, Illinois, United States. The population was 3,029 at the 2000 census. The city is located directly across the Mississippi River from Keokuk, Iowa. Hamilton is the largest city in Hancock County.-About Hamilton:...
to a family of Norwegian
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...
ancestry and graduated from Carthage College
Carthage College
Carthage College is a private liberal arts college affiliated with the Evangelical Lutheran Church in America. Situated in Kenosha, Wisconsin midway between Chicago, Illinois and Milwaukee, Wisconsin, the campus is on the shore of Lake Michigan and is home to 2,500 full-time and 900 part-time...
in 1944 with a B.A.
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
, again in 1970 with a LL.D.; from the University of Minnesota Law School
University of Minnesota Law School
The University of Minnesota Law School, located in Minneapolis, Minnesota, USA, is a professional school of the University of Minnesota. The school offers a Juris Doctor , Masters of Law for Foreign Lawyers, and joint degrees with J.D./M.B.A., J.D./M.P.A, J.D./M.A., J.D./M.S., J.D./Ph.D.,...
in 1949 with a LL.B.
Bachelor of Laws
The Bachelor of Laws is an undergraduate, or bachelor, degree in law originating in England and offered in most common law countries as the primary law degree...
; and from Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
’s Advanced Management Program in 1966.
BankAmerica
Clausen was certified to practice law after graduating from the University of Minnesota, but instead he got a job at the BankAmerica in Los Angeles, CaliforniaLos Angeles, California
Los Angeles , with a population at the 2010 United States Census of 3,792,621, is the most populous city in California, USA and the second most populous in the United States, after New York City. It has an area of , and is located in Southern California...
. He became Vice President in 1961, Senior Vice President in 1965, Executive Vice President in 1968, Vice Chairman of the Board in 1969, and President and CEO in 1970.
World Bank
In 1981 he was appointed President of the World BankWorld Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
. He was replaced 5 years later by Barber Conable
Barber Conable
Barber Benjamin Conable, Jr. was a U.S. Congressman from New York and president of the World Bank.-Biography:...
.
Back to BankAmerica
He returned to Bank of America as Chairman and CEO in 1986 but stepped back from an active executive role in 1990 to be Chairman of the Executive Committee. During his time at the bank he helped it grow to be the biggest commercial bankCommercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
.
Membership
Clausen is a member of the Advisor Council of SRI InternationalSRI International
SRI International , founded as Stanford Research Institute, is one of the world's largest contract research institutes. Based in Menlo Park, California, the trustees of Stanford University established it in 1946 as a center of innovation to support economic development in the region. It was later...
and was on the Board of Governors of United Way.
The A.W. Clausen Center for World Business at Carthage College
Carthage College
Carthage College is a private liberal arts college affiliated with the Evangelical Lutheran Church in America. Situated in Kenosha, Wisconsin midway between Chicago, Illinois and Milwaukee, Wisconsin, the campus is on the shore of Lake Michigan and is home to 2,500 full-time and 900 part-time...
in Kenosha, Wisconsin
Kenosha, Wisconsin
Kenosha is a city and the county seat of Kenosha County in the State of Wisconsin in United States. With a population of 99,218 as of May 2011, Kenosha is the fourth-largest city in Wisconsin. Kenosha is also the fourth-largest city on the western shore of Lake Michigan, following Chicago,...
, is named in his honour.
The Clausen Center for International Business and Policy, at the Haas School of Business, University of California, Berkeley was endowed by a gift from Peggy and Tom Clausen in 1995. http://www.haas.berkeley.edu/HaasGlobal/