Sad to report.
The San Francisco Business Times says that former Bank of America CEO A.W. 'Tom' Clausen died Monday at 89.
Details of his death were not immediately available.
Clausen originally joined then San Francisco-based Bank of America in 1949 and became president and CEO in 1970. He left the bank in 1981 to become president of the World Bank. He left that post in 1986 to return to Bank of America as chairman and CEO, serving in that role for four years.
Clausen was instrumental in turning around Bank of America after loans to developing countries in the 1980s went sour.
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