Having grown up in and around the banking business, Shipley was experienced in both effective and ineffective management styles, especially when it came to handling mergers. Consequently, when Shipley assumed leadership of Chemical, he made a point of emphasizing trust among employees and the company. His skills as a manager helped Chemical successfully complete two large mergers in 1991 and 1996, the latter of which involved the purchase of Chase Manhattan, the name under which Chemical now operates, and created one of the largest banks in the United States.