San Francisco, January 25, 2013 — A.W. “Tom” Clausen, long-time supporter and Trustee Emeritus of The Asia Foundation, passed away on Monday, January 21 at the age of 89. Mr. Clausen joined the Foundation’s Board of Trustees in 1990 at the invitation of the Foundation’s President Emeritus Bill Fuller and served as an active member until he became a Trustee Emeritus in 2003.
Mr. Clausen was a tireless champion of developing countries. During his long banking and public service career, he visited 119 countries and exercised his leadership skills to improve the lives of countless individuals around the world. In addition to his dedicated commitment to The Asia Foundation, Mr. Clausen was the retired Chairman and Chief Executive Officer of Bank of America Corporation and its wholly-owned subsidiary, Bank of America. He was a retired Honorary Director of both boards. He joined Bank of America in 1949 and became President and Chief Executive Officer in January 1970. Mr. Clausen left the Bank in the spring of 1981 to become President of The World Bank, a position held until 1986, when he returned to Bank of America Corporation as Chairman and Chief Executive Officer. He was the recipient of awards from the governments of Italy, Japan, Senegal, South Korea, Spain, and Venezuela.
A memorial service is planned for Sunday, February 17 –Mr. Clausen’s 90th birthday– at 4:00 p.m. at the First Presbyterian Church in Burlingame, CA.