Obituary

R. Canon Clements, the third of four children, born in Plainview to Solon and Lena Clements, passed away on July 17 at Covenant Medical Center in Lubbock, after a brief illness. He was 93.

Canon graduated from Texas Technological College in 1932 with a degree in General Business. In 1935, he earned an MBA Degree with Distinction from Harvard University Graduate School of Business Administration. From 1935 1938, Canon attended Oxford University in England as a Rhodes Scholar from Texas, where he was awarded the graduate Bachelor of Letters degree.

Upon his return from Oxford, Canon settled in New York and joined the J. Henry Schroder Banking Corporation as a research analyst. During his 27 years at the Schroder firm, Canon rose quickly through positions of increasing responsibility in international banking and administration. An early accomplishment in which he leveraged his Master's thesis work at Oxford was the development of Lend Lease arrangements that financed materiel for the allied efforts against the Third Reich. After the war, Canon assumed leadership roles at Schroder's, developing client relationships in commercial and trade finance in a series of international markets, including Scandinavia, Australia and New Zealand, Latin America and Africa. During his later years at Schroder's, Canon served as Executive Vice President and a member of the bank's Board of Directors. He was also a director on the boards of Timex, Marcal Paper Mills and American Export Isbrandtsen Lines.

In 1966, Clements joined Meadowbrook National Bank of Long Island, New York, as its President and a director on the board. He retired in 1973 as Vice Chairman of National Bank of North America, the successor of Meadowbrook after a merger. Following Canon's formal retirement, Banco Comercial Mexicano of Mexico City hired him to establish and head its New York representative office.

Canon returned to Lubbock in 1984 to manage Clements Corporation, the family business of investments and property management. Canon's commitment to Texas Tech University was reflected in his membership in the Chancellor's Council, Red Raider Club and the Alumni Association, as well as in serving a term on the Business Administration's National Development Board and a term as a Texas Tech Foundation Director. He received Distinguished Alumni Awards from the Rawls College of Business in 1988 and the Texas Tech Ex Students Association in 1992.

In 1993, Canon married Betty Stout who survives him. Mr. Clements is also survived by four children from a previous marriage to the former Helen Gillen: John Clements and wife Mari of Swarthmore, Pennsylvania; Deborah Gessner of Chicago; Gillen Clements of Phoenix, and Matthew Clements of Los Angeles. He had five grandchildren, Jennifer, Shane, Dillon, Leif, and Olivia, and two great grandchildren, Ocean and Maya. He is also survived by numerous nieces and nephews. Canon was preceded in death by one daughter, Pamela; by a brother, Solon, Jr.; and two sisters, Lizzie Belle Whiteside and Dollie Harris.

Donations in his memory may be made to the R. Canon Clements Scholarship Fund, Texas Tech Alumni.