A stream of departures by senior-level managers at First USA, the credit card unit that is largely responsible for Bank One Corp.'s recent woes, shows that investors and Wall Street analysts are not the only ones looking to distance themselves from the shaken super-regional.
Most recent among the resignations was that of William Nutting, executive vice president in charge of First USA's partnership programs with universities and nonprofit organizations. Mr. Nutting, 46, is one of at least four senior-level First USA executives who have left the Wilmington, Del., company over the past several months. Those do not include the high-profile resignations of First USA's co-founder and chairman and chief executive officer, Richard W. Vague, in October and John B. McCoy's resignation in December. Mr. McCoy, who was chief executive officer and chairman of Chicago-based Bank One, stepped aside after Bank One delivered its second profit warning in November because of the troubles at First USA.