Distinguished Alumni Award


Tom Kloet 80BBA

2015 Achievement Award

Tom Kloet, 80BBA, a key innovator of the global stock exchange, has helped steer the financial services industry through technological advances and tumultuous times. Over the course of a distinguished international business career spanning three decades, Kloet has been at the forefront of changes that have brought growth, corporate responsibility, and personal accountability to the world's financial systems.

Kloet graduated from the University of Iowa in 1980 with a business degree in accounting. In 1995, he joined the board of the Chicago Mercantile Exchange (CME), where he was instrumental in transforming the company from a member-owned organization into the world's leading and most diverse derivatives marketplace. Kloet's stalwart leadership positioned CME to become the first U.S. exchange to go public in 2002. He later served for three years as founding CEO and executive director of the Singapore Exchange, converting it from a mutual utility into the second exchange in the Asia-Pacific to become a publicly owned commercial entity.

"Being a University of Iowa alum means ... that I am part of a network of global leaders across many fields who are making a difference in the world today."

In 2008, Kloet assumed leadership of the TMX Group, which operates the Toronto, Montreal, and other major stock exchanges, and became vice chairman of the World Federation of Exchanges. His calm and ethical leadership brought these organizations stability in the wake of the 2008 financial crisis and subsequent industry regulations. Although Kloet retired from both positions in fall 2014, he continues to offer his vast knowledge and experience of financial services as a member of the Nasdaq/OMX board of directors. Kloet also lends his expertise to the community, serving as a trustee for Edward-Elmhurst Healthcare and Elmhurst College in the Chicago area. Says World Federation of Exchanges chairman Andreas Preuss, "I have learned to greatly appreciate Tom for his professional expertise, his managerial quality, and, last but not least, his personal integrity."

A devoted alumnus of the University of Iowa, Kloet has contributed to the Tippie College of Business advisory board since 2010, often returning to campus as a guest speaker and philanthropist for the place he credits with fostering his intellectual curiosity and love of learning. Kloet says, "To have the institution that played such an important role in forming who I am today recognize me for achievement is very meaningful indeed. Being a University of Iowa alum means that I have not only a technical proficiency gathered from committed and skilled faculty, but also that I am part of a network of global leaders across many fields who are making a difference in the world today."

Tom Kloet has indeed helped shape the world, both as a pioneer in the financial services industry and through his dedication to training the next generation of business leaders.

Kloet is an annual member of the UI Alumni Association and a member of the UI Foundation's Presidents Club.


Career Highlights
  • Chicago Mercantile Exchange board member, treasurer, and clearing chairman, 1995-2000
  • ABN AMRO investment bank senior managing director and chief administrative officer, 1997-2000
  • Singapore Exchange Limited chief executive officer, 2000-03
  • Fimat America senior executive vice president and chief operating officer, New York City, 2003-08
  • TMX Group Limited chief executive officer, Toronto, Ontario, 2008-14
  • Inducted into the Futures Industry Hall of Fame in March 2015

About Distinguished Alumni Awards

Since 1963, the University of Iowa has annually recognized accomplished alumni and friends with Distinguished Alumni Awards. Awards are presented in seven categories: Achievement, Service, Hickerson Recognition, Faculty, Staff, Recent Graduate, and Friend of the University.


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The Krause Essay Prize and its $10,000 award is presented annually by a unique panel of judges: UI graduate students. Photo: Tim Schoon/UI Office of Strategic Communication Students in the University of Iowa Nonfiction Writing Program's graduate seminar dug into their weekly reading assignments with particular enthusiasm this past spring?and for good reason. By the end of the semester, they were tasked with selecting the best of the bunch for a prestigious award on behalf of a university known for its literary tradition. This marks the 12th year that nonfiction graduate students served as judges for the newly renamed Krause Essay Prize, a national award presented to an essayist who pushes the boundaries of the genre through experimentation, exploration, and discovery. Thought to be the only national literary honor selected by students, the prize is accompanied by a $10,000 award for the first time this year thanks to a new partnership between the UI Nonfiction Writing Program and the Kyle J. and Sharon Krause Family Foundation. Shawn Wen, winner of the 2018 Krause Essay Prize, is the author of A Twenty Minute Silence Followed by Applause. Her writing has appeared in The New Inquiry, Seneca Review, Iowa Review, White Review, and the anthology City by City: Dispatches from the American Metropolis. This year's Krause Essay Prize recipient is Shawn Wen, a San Francisco-based multimedia artist and the author of A Twenty Minute Silence Followed by Applause (Sarabande Books, 2017), a book-length essay on the life of French mime Marcel Marceau. Wen, whom students selected from a pool of 14 nominees, accepted her award at a ceremony in September in the Old Capitol Senate Chamber. Nicol?s Medina Mora Perez, a third-year MFA student from Mexico City, was among the prize judges in the spring seminar taught by author and Nonfiction Writing Program director John D'Agata (98MFA). Perez said that beyond discussing the merits of the nominated essays each week, class conversations revolved around how they define essay writing and the type of nonfiction they wanted to champion as representatives of the UI. By serving as judges, Perez says, students had the opportunity to read a broad selection of contemporary nonfiction that they may not have otherwise sought out. "By the end of the semester I had a clearer idea of the sort of work that people are publishing today, which includes stuff that I'd like to imitate and stuff that I'd rather not," Perez says. "I guess it's a bit like watching the World Cup with your soccer teammates: You see moves that you think are cool and want to steal for your own gameplay, but you also notice pitfalls that you should learn to avoid." Wen says she's been "over the moon" since learning she was selected as this year's Krause Essay Prize winner. A producer for Youth Radio in Oakland, California, Wen says discovering essay writing "was very much like falling in love" and has long admired the UI's approach to the genre. "When I started writing essays, I felt like all these dusty windows in my brain were opened, letting in light and fresh air," she says. "It's incredibly meaningful to me that my writing has been recognized by this program and its students." D'Agata dreamed up the prize in 2007 as a way to introduce his students to high-caliber essay writing and the many forms it can take. The professor asked colleagues from around the country to recommend their favorite essays from the past year, which he then compiled into a reading list for his seminar. As an added twist, D'Agata noted that submissions could be from any medium?including radio and film?as long as they were "essayistic." To give class discussions a sense of consequence, D'Agata had students evaluate each piece at the end of the semester and select a single award winner. Author Aaron Kunin received the inaugural Essay Prize, as the award was previously known, and it soon became an annual tradition. D'Agata's seminar students spend the semester dissecting the pieces, giving presentations, and writing critiques for the The Essay Review, the Nonfiction Writing Program's national magazine. Over the years, the class has crowned winners as varied as poet?Claudia Rankine, science writer Oliver Sacks, performance artist Sophie Calle, and the producers of Radio Lab. A current group of 14 writers and artists from around the nation serve as the nominating committee, includes luminaries like Roxane Gay, Leslie Jamison (06MFA), and Kiese Laymon. "In the U.S. we do a great job teaching students about the powers and pleasures of reading and writing?poetry and fiction, but not so much with essays," says D'Agata, who in 2016 published an anthology titled The Making of the American Essay. "Essays are often an afterthought in literature classes in America." In 2017, the Kyle J. and Sharon Krause Family Foundation made a $500,000 donation to bolster the endowment of the UI Nonfiction Writing Program?the largest gift in the distinguished program's history. Founded in 1976, the Nonfiction Writing Program, a graduate program within the Department of English, is regularly ranked among the best in the nation and has launched the careers of alumni who have gone on to write for magazines like the New Yorker, Rolling Stone and Harper's. "The Krause Foundation is about giving back and giving forward," says Elliott Krause (14MFA), a Nonfiction Writing Program alumnus who now works at the Wall Street Journal. "Helping fund the Essay Prize is a rare chance to do both. Eleven Krauses and counting have graduated from the University of Iowa; the Krause Essay Prize is a way to both express our gratitude for all Iowa has given us and be a champion for the arts." The support from the Krause family has not only allowed the program to award a cash prize for the first time, but also to invite winners to campus to present their essays and spend time with students and faculty. When Wen visited in late September, she taught a series of master classes for nonfiction students. D'Agata says that the foundation's support further legitimizes the idea of a student-driven award and its importance to the literary world. "It's also helping to bring attention to the entire genre," D'Agata says. "There are a lot of awards out there for works of fiction and poetry, but very few awards for essays. This award is saying, 'essays are awesome.' If you're an essayist, you don't hear that very?often. The Krause Foundation is helping to fix that." Krause Essay Prize Winners The UI Nonfiction Writing Program has awarded a national essay-writing prize annually since 2007. With support from the Kyle J. and Sharon Krause Family Foundation, the award was renamed the Krause Essay Prize this year. For more on the prize, visit krauseessayprize.org. 2018: Shawn Wen, A Twenty Minute Silence Followed by Applause 2017: Peter Middleton and James Spinney, Notes on Blindness 2016: Oliver Sacks, Gratitude 2015: Claudia Rankine, Citizen 2014: Sophie Calle, The Address Book 2013: David Rakoff, Waiting 2012: Lauren Redniss, Radioactive 2011: Judith Schalansky, Atlas of Remote Islands 2010: Jad Abumrad and Robert Krulwich, New Normal? 2009: Mary Ruefle, The Most of It 2008: Joshua Raskin, I Met the Walrus 2007: Aaron Kunin, Secret Architecture

Past Dance Marathon participants who spent 24 hours on their feet For The Kids (FTK) are invited to join the Dance Marathon Alumni Group (DMAG).

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