- The Washington Times - Saturday, January 11, 2003

NEW YORK, Jan. 11 (UPI) — Former Treasury Secretary C. Douglas Dillon died Friday at New York Presbyterian Hospital, the New York Times reported Saturday. Dillon as 93.

Throughout his career, Dillon was both a successful Wall Street banker and government official. President Eisenhower appointed him ambassador of France in 1953, a post he held until 1959 when the Eisenhower named him under secretary of state. In 1961 President Kennedy appointed the Republican Dillon secretary of the U.S. Treasury, to join his largely Democratic Cabinet.

Dillon was a founder of the Inter-American Development Bank, and also was involved in the establishment of the Organization of American States and of the Organization for Economic Cooperation and Development.

Born in Geneva, Switzerland, to Clarence and Ann Douglass Dillon on Aug. 21, 1909, Dillon attended Groton preparatory school and graduated from magna cum laude from Harvard in 1931. According to the biography posted online by the Treasury Department, Dillon also served in the Navy during World War II, where he received decoration for combat actions.

Prior to his government service, Dillon had a long career as an international banker. With his father's support Dillon became a member of the New York Stock Exchange in 1931, and in 1936 became director and later president of the United States and Foreign Securities Corporation. In 1938 Dillon became vice president and director of Dillon, Read and Company, an international investment bank founded by his father, to which he was elected chairman of the board in 1946.

Dillon also amassed a collection of Impressionist paintings and other art, the New York Times report, and served as trustee, president and chairman of the Metropolitan Museum of Art during his tenure on the museum's board from 1970 to 1983.

Dillon is survived by two daughters by his first marriage, Phyllis Ellsworth Colins and Joan Dillon Moseley, and also by his second wife, Susan Dillon.

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