Remembering Walter Shipley
The former Chairman and CEO of Chase Manhattan Bank and Chemical Bank passed away on Friday at the age of 83.
On Friday, the world lost a critical force behind what is now JPMorgan Chase and, more importantly, an individual universally regarded with praise for his character, generosity and business acumen.
Walter, 83, was the former Chairman and CEO of both Chase Manhattan Bank and Chemical Bank. During his over 40-year tenure with our company, he engineered mergers with Texas Commerce Bank in 1987, Manufacturers Hanover in 1991 and Chase Manhattan Bank in 1995. Walter retired at the end of 1999, the year before Chase acquired J.P. Morgan.
Walter fostered an open, entrepreneurial meritocracy — one that carries through to this day at JPMorgan Chase. Widely respected for being a straight shooter, Walter believed there was no substitute for talent, drive and hard work.
While we mourn the loss of a great leader and strategic thinker, we also remember Walter with a smile for his ability to motivate people while earning their respect through periods of tremendous challenge.
We extend our deepest sympathies to his family, and continue to hold Walter in our thoughts and prayers.