Fred O. Gumbel, president and chief executive officer of Vital Processing Services, resigned last week.

Mr. Gumbel, 45, was the first CEO of Vital, a fifty-fifty joint venture formed in 1996 by Visa U.S.A. and Total System Services. Based in Tempe, Ariz., Vital was intended to give banks a stake in the merchant processing business, where they had lost market share to First Data Corp. and other nonbank specialists.

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