Banc One Corp. this week said it put Jeffrey P. Neubert in charge of three credit subsidiaries, including Banc One Credit Card Services Co.
At the card unit, Mr. Neubert replaces Richard D. Headley, who was named chairman and chief executive officer of Banc One Services Corp., the Ohio-based holding company's technology arm.
Mr. Neubert, 51, who joined Banc One in 1991 after 17 years with Citicorp, will report to John B. McCoy, chairman and chief executive officer.
Nontraditional Products
As chairman and chief executive of Banc One Diversified Credit Corp., Mr. Neubert will oversee Banc One Leasing Corp. and Finance One Corp., the company's consumer finance unit, in addition to the card services operation.
"It made sense to put the nontraditional banking products together - products that don't have to be delivered through the bank's branches," said a spokesman for the bank.
"The common denominator with the three businesses is credit." Mr. Neubert said in an interview on Tuesday.
Developed Training Programs
Mr. Neubert has spent most of his career in consumer banking and is a past chairman of the Consumer Bankers Association. Before working at Citibank, he was with General Foods Corp.
He joined Banc One in 1991 as executive vice president of corporate development, and concentrated on developing management talent and providing training programs.
"When I took the position, I told John McCoy that I hoped to have the opportunity to get back into the customer side," Mr. Neubert said. "No promises were made, but he understood that's what I wanted."
Mr. Neubert plans to consolidate operations in the credit card business, and foresees a growing role for debit cards.
With Mr. Neubert's elevation, Banc One vice president Nancy C. Bonner will be responsible for corporate development and service-quality functions. She will also report to Mr. McCoy.
Mr. Headley, a onetime chief executive of Bank One Akron and executive vice president of Banc One Wisconsin Corp., will report to holding company president Donald L. McWhorter.
Mr. McWhorter had been serving as CEO of Banc One Services Corp. That post was held until last year by David Van Lear, who recently became chief executive officer. of Electronic Payment Services Inc.
