The first keynote speaker at the conference was A.W. Clausen, the Chairman of BankAmerica Corporation and a former President of the World Bank Group, who was asked to describe his vision of how best to promote economic development. Richard Gardner, the U.S. Ambassador to Spain, opened the session. In addition to being a seasoned diplomat, Ambassador Gardner is also one of the great scholars of the Bretton Woods conference and the world economic order that it produced.