Origins & Early Life

Alden Winship "Tom" Clausen (February 17, 1923 – January 21, 2013) was President of the World Bank from 1981 to 1986. He was also president and CEO of Bank of America in 1970 and again in 1986. Clausen was born in Hamilton, Illinois to a family of Norwegian and German ancestry. He was the son of Morton Clausen, owner, editor and publisher of the Hamilton Press, the town's weekly newspaper.

Pivotal Works & Achievements

His mother was Elsie Emma Kroll. He graduated from Carthage College in 1944 with a BA (and was awarded an honorary LLD in 1970), from the University of Minnesota Law School in 1949 with a LLB, and attended the Harvard University's six-week Advanced Management Program in 1966. Clausen was certified to practice law after graduating from the University of Minnesota Law School, but instead he got a job at the Bank of America in Los Angeles, 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. In 1981 Clausen was appointed president of the World Bank.

Enduring Legacy & Impact

He was replaced five years later by Barber Conable. His term as World Bank...

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• 1923 Historical Timeline & Archive — Explore world events and figures from 1923
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