Last fall from the leaf-red hills of White Sulphur Springs, W. Va., the New Deal-fearing Investment Bankers Association of America reached as far from Wall Street as it could stretch for its new president: sunburned Jean Carter Witter of the California firm of Dean Witter & Co.

Last week Wartime field artillery Captain Witter announced his successor, selected by the board of governors and sure to be elected at the I.E.A. convention in Del Monte, Calif, this October. This time I.B.A. reached into the Middle West, chose another Wartime battery commander: tall,...

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