New York, Nov 17: Chase Manhattan Corp said on Tuesday Walter Shipley will step down as chairman of the second-biggest US bank on January 1, and chief executive officer William Harrison Jr will take over the job.Shipley, 64, was widely viewed as being close to retirement. In June, Harrison took over the roles of CEO and president of Chase from Shipley, ending long-standing speculation about the bank's leadership succession plan. Harrison, 55, will remain CEO after he becomes chairman but will drop the president's title.
The bank will no longer have a president. under bank policy, Shipley had to retire by age 65. Shipley became chairman and CEO of Chase in March 1996, when the bank merged with Chemical Banking Corp.
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