Chase Manhattan Corp. has shuffled senior executives and created an Internet business unit, Chase.com, according to plans outlined in an internal memo issued Tuesday.
Vice chairman Joseph G. Sponholtz will head Chase.com. and continue to oversee information technology projects, the memo said. Mr. Sponholtz had been head of Chase Technology Solutions.
Vice chairman Donald H. Layton will head Global Services, the securities processing part of Chase Technology Solutions. James Zeigon, who was head of Global Services, will leave the company.
The memo, which was issued by Chase president and chief executive officer William B. Harrison Jr., went to all company employees.
"The Internet will change everything we do," Mr. Harrison said in the memo. "Chase.com will serve as the single point of focus for the creation of joint ventures and marketing alliances with Internet companies."
Mr. Harrison's direct reports include vice chairmen Donald L. Boudreau, James B. Lee Jr., Marc Shapiro, Mr. Layton, and Mr. Sponholtz. Deborah L. Duncan, executive vice president in charge of asset management, and Jeffrey C. Walker, managing general partner of Chase Capital Partners, will also report to Mr. Harrison, the memo said.