In Brief: MasterCard Elects Chase Exec as Chairman

Boudreau has been elected chairman of the MasterCard International board, the card association announced Monday. Mr. Boudreau occupies a seat long held by Chase and its predecessors, Chemical Banking Corp. and Manufacturers Hanover Corp. The 30-member MasterCard global board elected Mr. Boudreau unanimously earlier this month to a two-year term. He succeeds Joseph W. Saunders, who represented Household Credit Services Inc. Mr. Saunders recently left Household to become chairman and chief executive officer of Fleet Credit Card Services, a unit of Fleet Financial Group, which is represented on the Visa board of directors. Mr. Saunders served his full MasterCard term, however. "Don Boudreau's broad experience in the global financial community makes him uniquely qualified to lead MasterCard's board," said chief executive officer Robert Selander. Mr. Boudreau, 57, oversees all of Chase's consumer banking activities.