Economics
Walter Shipley, Former Chase Manhattan Chairman, Dies at 83
- Newark native led Chase Manhattan Bank and Chemical Bank
- Crafted landmark bank mergers leading to what is now JPM
Walter Shipley
Photographer: Michael Goldman/The LIFE Images Collection via Getty Images
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Walter V. Shipley, the former chairman and chief executive officer who led the friendly merger of Chemical Banking Corp. with Chase Manhattan Corp. to create the biggest U.S. bank and predecessor of what is now JPMorgan Chase, has died. He was 83.
Shipley who led both Chase Manhattan and Chemical for more than 40 years, died on Friday. He had cancer and passed away in Florida, a Chase spokesman said, without giving further details.