Deming, Frederick L.

Frederick Lewis Deming was born in Des Moines, Iowa on September 12, 1912. He was the son of Fred Kemp and Erva Pearl (Smyres) Deming. He spent most of his youth in St. Louis, Missouri. He attended Grover Cleveland High School in St. Louis, and Washington University, St. Louis, where he earned B.A. (1934) and M.A. (1935) degrees in history and a Ph.D in economics (1941).

He began his working career in 1941 at the Federal Reserve Bank of St. Louis as assistant manager in the Research Department. He left in 1957 as first vice-president to accept the position of president of the Federal Reserve Bank of Minneapolis, a position he held from April 1957 through January 1965. Deming left the bank to serve as Undersecretary for Monetary Affairs in the United States Treasury Department, a position he held from 1965 to 1969. After leaving government service he was a general partner in Lazard Freres & Company, a New York investment firm (1969-1971). He was also president of National City Bancorp, Minneapolis (1971-1982).

Deming served on a number of corporate and nonprofit boards. He was a director of National City Bancorp (until 1993); the Boise Cascade Corporation (1970-1982); Northwestern National Life Insurance Company (1971-1979); St. Paul Securities Company (1972-1977); and the Pitcairn Company (1983-1988). He became a trustee of Macalester College in 1959 and was elected to the Washington University Board of Trustees in 1965. He was apparently also a trustee of Abbott Hospital and Westminster Presbyterian Church, both Minneapolis.

Frederick Deming married (Corinne) Inez Wilson on Febrary 4, 1935. The couple had two children: Frederick Wilson Deming ("Fif") and Richard Louis Deming. In their retirement years the couple made their home in Sanibel, Florida. Deming died on August 21, 2003 at Fort Myers, Florida.

From the guide to the Frederick L. Deming papers., 1935-2003 (bulk 1957-1964)., (Minnesota Historical Society)