Walter V. Shipley, the architect of several bank mega mergers that reshaped the industry, has died. He was 83.
Shipley was the chairman and CEO of Chase Manhattan Bank. He led several mergers in the '80s and '90s.
Shipley's wife of more than 55 years, Judith, died in 2014. He is survived by his five children.
Shipley, the son of a Wall Street investment banker, was born in New Jersey in 1935. He started his career in his early 20s at New York Trust Company, which was later acquired by Chemical Bank. Shipley became a top loan officer, and he landed an executive position in 1978 and was named chairman and chief executive in 1983 at the age of 47.
He retired from Chase in 1999, a year before it acquired JP Morgan. He served as chairman of The Wallace Foundation, an education-focused charity. Shipley was also vice chairman of the New York region of Goodwill Industries.
Principal Occupation: Retired Chairman of the Board, The Chase Manhattan Corporation and The Chase Manhattan Bank. Recent Business Experience: Mr. Shipley was elected Chairman and Chief Executive Officer of Chase Manhattan upon its merger with Chemical Bank in 1996, and retired in 1999. He was elected Chairman and Chief Executive Officer of Chemical Bank in 1983; President and Director in 1982; and Senior Executive Vice President in 1979. Public Company Directorships: None.