Chase Manhattan Corp., the biggest U.S. banking company and owner of the third-largest bank card portfolio, has decided to replace one of the card industry's longest-serving veterans with a novice in the field.

But the novice, Michael Urkowitz, has a solid reputation for technology management, as well as expertise in securities and other wholesale operations. At 53, he is only four years younger than the man he replaces, Charles R. Walsh, whose credit card career dates back 22 years.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.