Head of WingspanBank.com to Step Down

The head of Bank One Corp.’s fledgling Internet bank, WingspanBank.com, is resigning, the latest in a string of key executives who have left the company in recent months. James Stewart, who also served as an executive vice president at First USA, the credit card unit that oversees WingspanBank.com, is leaving at the end of the year. Problems at First USA have prompted Bank One to lower its earnings expectations twice in recent months, most recently on Wednesday. First USA head Richard Vague resigned amid a management shake-up last month. Stewart, 47, said he is pursuing several Internet-based financial services opportunities. A spokesman for Bank One said the company remains committed to developing WingspanBank. Michael Cleary, executive vice president of Internet marketing for WingspanBank.com will replace Steward. Bank One shares closed up $1.25 at $36.25 on the NYSE.