Bank One Corp., Chicago, refused to comment on published reports that the bank is trying to sell its low-margin corporate trust business, which along with J.P. Morgan Chase & Co. operated accounts for National Century Financial Enterprises. Both banks have been criticized for failing to protect NCFE bondholders while cash in the accounts was being diverted. NCFE, Dublin, Ohio, declared bankruptcy in November. Bank One has $1 trillion in assets under administration, for which it collects small service fees, a Bank One spokesman said. According to published reports, Bank One has hired Goldman Sachs Group to help find buyers for the corporate trust business. -- by Mary Chris Jaklevic
Bank One said to seek buyer for NCFE-tainted unit
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