Bank One Names COO of First USA

Bank One Corp. named Daniel J. Frate president and chief operating officer of First USA Inc. as the No. 3 U.S. credit card issuer seeks to win back customers.

Frate, 40, succeeds Anthony Vuoto, who resigned in March after a year in the position. Frate spent 12 years at U.S. Bancorp. Before that he worked at Citicorp, now Citigroup Inc., holding positions in the Diners Club credit card business and in technology and service management, Bank One said.

First USA has hurt Chicago-based Bank One’s profit since 1999, when it lost customers after giving them less time to pay bills and then imposing fees on and raising interest rates for late payers.

Shares of Bank One rose 15 cents to close at $36.75 on the NYSE.