Bank One Names Donovan to Head Human Resources
In addition, Donovan will become a member of the Planning Group, the bank's executive leadership team, and will lead a task force of senior managers to improve efficiencies and reduce expenses throughout Bank One.
Donovan, 51, who joined the bank in 1989, has wide-ranging experience in managing units in the bank's capital markets area, heading financial reporting in the commercial bank, strategic planning, product development and marketing. Donovan succeeds Timothy P. Moen, who announced plans earlier this year to leave the organization for personal reasons once a successor was named.
"Dave is an excellent manager, and his common-sense approach will allow the company to simplify procedures, motivate employees and effectively deploy valuable company resources," said Dimon. "Dave has spent his entire 28-year career in financial services, and his perspective from both line and staff positions will be valuable in keeping Bank One a competitive employer."
Most recently, Donovan served as managing director and vice chairman of Banc One Capital Markets. Those responsibilities will be divided among several managers in the capital markets group.
"Our employees are our most important assets and essential to the company's success," Donovan said. "I look forward to my new challenge of helping our employees achieve our goal of being a high-performing, low-cost provider of financial services."
Prior to joining the bank, Donovan served in senior management positions at Chase Manhattan Bank and Commercial Union Capital Corp. He earned a degree in international economics from Georgetown University School of Foreign Service.
BANK ONE CORPORATION (NYSE: ONE) is the nation's fifth-largest bank holding company, with assets of more than $270 billion. Bank One offers a full range of financial services to commercial and business customers and consumers. It can be found on the Internet at www.bankone.com.