Bank Leader and Haas Benefactor Tom Clausen
Former Bank of America and World Bank chief A.W. "Tom" Clausen, a longtime Berkeley Haas benefactor, passed away Jan. 21 from complications from pneumonia. He was 89.
Clausen was a staunch Haas supporter for almost three decades. In 1995, Clausen and his late wife Peggy generously funded the business school's Clausen Center for International Business and Policy. The Clausen Center was created to support the business school's international focus by providing research grants to faculty, hosting international visitors, and sponsoring conferences and student-initiated seminars. Haas awarded Clausen its Lifetime Achievement Award in 2005.
Clausen began his career working at Bank of America as a part-time bank vault clerk while waiting for his bar exam results. He worked his way up to chairman and CEO in 1970 at age 46. Under his leadership, Bank of America grew into the largest commercial bank in the country.
Clausen left in 1981 to become CEO of the World Bank for five years, and then returned to pull Bank of America out of a financial crisis. He brought net earnings to $1.1 billion in his last full year as CEO.
Economics and Law Professor Michael Conant
Professor Emeritus Michael Conant, a Haas faculty member for more than three decades with research spanning the fields of law and economics, passed away at his Kensington home Dec. 7. He was 88 years old.
Conant served in the U.S. Army during World War II and then earned a BS in economics from the University of Illinois at Urbana-Champaign. He then attended the University of Chicago, where he earned a doctor of philosophy in economics and a doctorate of law from the University of Chicago, with Nobel Laureate Milton Friedman serving as one of his PhD examiners.
Conant joined the faculty of UC Berkeley's business school in 1954. He was known for his excellence as a teacher and his expertise in antitrust economics, law, and economic regulation.
After retiring in 1991, Conant continued to publish numerous journal articles and several highly respected books, including The Constitution and Economic Regulation: Objective Theory and Critical Commentary in 2008.