Chemical Banking Corp. is about to recognize several key retail units, consolidating even more power in the hands of former Manufacturers Hanover officials. The changes, expected to be announced internally this week, appear to signal a shift from implementing the merger to building revenues, according to well-placed sources.

Details are sketchy, but insiders said that Michael Hegarty, a senior executive vice president in charge of all branch banking, will get control of nationwide consumer products, including credit cards, home mortgages, consumer finance, and student loans. Commercial real estate finance, which also had been run by Mr. Hegarty, is likely to be shifted to the bank's corporate finance group.

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