James B. Lee Jr., Chase Manhattan Corp.'s investment banking chief, was promoted to vice chairman on Tuesday.

Mr. Lee, 44, will continue to report to William B. Harrison Jr., a Chase vice chairman and director. The bank has three other vice chairmen: Donald Layton, Donald Boudreau, and Michael Hagerty.

Widely credited with building Chase's powerhouse syndicated lending shop, Mr. Lee recently assumed responsibility for U.S.-based wholesale client management, including Chase's global industry groups and U.S. industries unit. He is also orchestrating Chase's buildup in investment banking and remains in charge of mergers and acquisitions, private equity, and lease financing.

Mr. Lee joined the former Chemical Banking Corp. in 1975. He was named a senior executive vice president of that bank in 1994 and was given the same title at Chase when it merged with Chemical last year.

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