Abandoning a lengthy outside search, Chemical Banking Corp. has tapped its consumer lending chief, Thomas Jacob, to ride herd over the massive mortgage business that will result from the bank's merger with Chase Manhattan Corp.

As president of the combined unit, Mr. Jacob will have the task of putting together and then profitably managing one of the biggest and most diverse home lending businesses in the country.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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