Moving quickly to assign responsibilities in advance of their merger, Chase Manhattan Corp. and Chemical Banking Corp. named 52 senior executives to second-tier management positions.
Of the 52, who will take their new posts early next year when the merger is scheduled to take effect, 30 come from Chemical Banking Corp. and 22 from Chase.
Among the key appointments for the post-merger Chase Manhattan Corp.:
*Herbert F. Aspbury, a senior managing director from Chemical Bank, who will be in charge of U.S. industries. He will report to Arjun J. Mathrani, the previously named head of global client management.
*Thompson M. Swayne, from Chase, who will head U.S. and European multinational corporate finance, also reporting to Mr. Mathrani.
*Charles R. Walsh, Chemical's credit card chief, who will have the same function in the new Chase. He will report to Donald L. Boudreau, head of retail credit products, who has Chase Manhattan roots.
*Thomas Jacob, a Chemical consumer banking executive, who will head the mortgage company and report to Mr. Boudreau. (See related article on page 9.)
*Douglas Williams, currently of Chase, who will be deputy general manager/information technology and operations. He will report to Denis J. O'Leary, the chief information officer.
Others on what Chase and Chemical described as a "partial list of senior management appointments" include Wilfred A. Finnegan, managing director of high-yield finance, reporting to James B. Lee, earlier named head of global investment banking; and Joel Epstein, previously of Chase, who was put in charge of affluent market segments. Mr. Epstein will report to both Mr. Boudreau and Michael Hegarty, head of retail deposit and investment products.
Frank Lourenso, an executive vice president long with Chemical, was given responsiblity for middle-market banking. He will report to William H. Turner, head of middle market banking and community development.
Craig D. Goldman, who has headed Chase's information technology operations, was put in charge of distributed and advanced technologies, reporting to Mr. O'Leary.
Analysts noted that the banks are intent on filling key management positions in time to ensure as smooth a transition as possible.
"This consolidation is being planned by the people who have to make it work," said Raphael Soifer, a bank analyst with Brown Brothers Harriman & Co. in New York. "This is the logical way to do it since those put in charge will be planning what happens to the organizations below them."
Chemical and Chase announced their intention to merge in August. The combined Chase would be the largest banking company in the United States, with about $300 billion of assets.
The two banks hope to save a combined $1.5 billion in annual operating expenses by merging back-office data processing and shutting down redundant branches. Part of the savings will come from an estimated 12,000 jobs that will be eliminated at the new entity, including 4,000 in the New York metropolitan area.
Chemical chairman and chief executive Walter V. Shipley has been named chairman and chief executive of the new Chase. Thomas G. Labrecque, Chase's chairman and CEO, will become president and chief operating officer.
A total of 21 other top-tier executives were given post-merger assignments when the companies made their announcement in August.
Analysts said they saw no particular weighting in favor of either bank, even if the majority of the new appointments to date have Chemical backgrounds.
They said the latest round of announcements parallels a similar series of personnel changes when Chemical and Manufacturers Hanover Corp. merged in 1991 and moved to reorganize at a similar pace.
But they also predicted that the latest appointments are unlikely to be the last word, and there will likely be more reshuffling in the works.
"There's a lot of mixing and matching going on and there's probably going to be more of that," said Mr. Soifer.
A spokesman for Chemical said additional senior-level appointments for major business groups will be announced as decisions are made.
Among the areas where second-tier officers have yet to be named are private banking, capital markets, and the operating services groups - Chemical's Geoserve and Chase's Infoserv.