Peter S.P. Dimsey's announcement last week that he would step down as MasterCard's U.S. region president to join MBNA Corp. focused attention on both organizations' rapidly evolving strategies.

The move came as a surprise, but hardly a shock, to people who follow the industry's people and personalities. Many saw it as a natural step both for Mr. Dimsey, who will be taking on more of a line business challenge, and for MasterCard, which is bringing new blood into top management.

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