Chauncey J. Medberry III spent his entire career, besides his service in the second world war, as an employee of Bank of America. Medberry was named chairman of the bank and its parent company in 1971, and held that position until 1981.

During that period, he and A. W. Clausen, Bank of America’s president and chief executive, oversaw a significant expansion in the bank’s activities, particularly abroad. He was responsible for the merging of Bank of America national and international affairs, he created the strategic plan that the company would abide by over the course of their most profitable years, and many other contributions to the company.