Emeritus Trustee Frederick L. Deming, Ph.D., died Thursday, Aug. 21, 2003, in Fort Myers, Fla. He was 90.
Deming was elected to the Board of Trustees in 1965, served as a member of the Educational Policy Committee and was elected an emeritus trustee in 1977.
He earned bachelor’s and master’s degrees in history and a doctorate in economics, all from the University.
He served as an undersecretary of the U.S. Department of the Treasury in President Lyndon B. Johnson’s administration and as president of the Federal Reserve Bank of Minneapolis.
“Dr. Deming had a long and distinguished life,” Chancellor Mark S. Wrighton said. “I am grateful for all that he did as one of our most distinguished graduates, both for our University and for the society he served. His legacy will endure.”
Born Sept. 12, 1912, in Des Moines, Iowa, Deming attended Grover Cleveland High School in St. Louis. He married Corinne Inez Wilson in 1935.
Deming started his career in 1941 at the Federal Reserve Bank of St. Louis. He first was assistant manager of the research department and subsequently became manager, assistant vice president, vice president and first vice president.
He was named president of the Federal Reserve Bank of Minneapolis in 1957.
Deming was appointed undersecretary of the Treasury Department for monetary affairs in 1965 by Johnson. He held that position until 1969, when he left to become a partner at Lazard Frères & Co. in New York.
Deming then served as president of the National City Ban-orporation of Minneapolis from 1972-1982. He was a member of National City’s board until 1993.
He was a director of the Boise Cascade Corp. from 1970-1982; the Northwestern National Life Co. from 1971-79; St. Paul Securities Co. from 1972-77; and the Pitcairn Co. from 1983-88.
Deming is survived by his wife of 68 years, Inez Wilson Deming of Sanibel, Fla.; two sons, Frederick W. Deming of Summit, N.J., and Richard L. Deming of Sanibel, Fla.; two grandchildren and three great-grandchildren.