Oklahoma native Julian J. Rothbaum graduated from the University of Oklahoma in 1938 and joined the State and National Bar Association. After serving four years as a reserve field artillery officer in World War II, he was the first director of the Tulsa district of the Federal Housing Administration, the youngest FHA Director in the U.S. at that time. From 1950 to 1952 he owned and operated a mortgage banking business and served as president of the Oklahoma Mortgage Bankers Association. He joined Francis Oil & Gas in 1952 and was named chairman of the board in 1966. In 1959, he began his two seven-year terms on the board of regents for the University of Oklahoma, where he also served as chairman, and in 1973 accepted appointment to the State Regents for Higher Education for a nine-year term. In 1960, he established the Julian J. Rothbaum Award in Petroleum Management, given yearly to the outstanding student in that field. Among his many philanthropies are several awards bearing the name of his long-time friend and mentor, Carl Albert. Upon the many honors bestowed upon Rothbaum are the 1974 Distinguished Service Citation by OU and election to membership in the Academy of University Fellows.