Business: New Boss for Chase

When John Jay McCloy became president of the World Bank six years ago, without any past experience in banking, he laughingly called himself "an illegitimate banker." Last week he was legitimatized. He was named to succeed Winthrop Aldrich, the new Ambassador to England, as chairman of Manhattan's Chase National Bank, the nation's third biggest.

Jack McCloy, 57, a Philadelphia-born lawyer, has had experience in many fields other than banking. His two chief talents are tireless energy and the ability to bring warring viewpoints together. He used both to good effect in his three...

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