Citicorp announced a management reshuffling Friday that leaves William Campbell, a former chairman of Philip Morris U.S.A., in charge of worldwide retail banking.
Mr. Campbell, 51, replaces Pei-yuan Chia, a vice chairman, who said he will be retiring this year.
Mr. Chia, 56, has spent 22 years at Citicorp and was long a key member of its consumer banking team. Only last year he was promoted to head of global consumer banking, concurrently with Robert McCormack's appointment to head of global corporate banking and David Gibson's to head of emerging markets operations.
Mr. Gibson also figured in Friday's announcement. Citicorp said he will retire in March and be replaced by Dennis Martin. Mr. Martin will run emerging markets day-to-day and report to vice chairman Paul Collins, who will oversee strategy.
The moves are the most significant in Citicorp's top ranks since the departure in December of Christopher Steffen, the vice chairman who spearheaded the company's aggressive cost-cutting and reengineering campaigns.
Victor Menezes, who had been head of the retail unit known as Citibanking Europe/North America, succeeded Mr. Steffen as chief financial officer. Mr. Menezes' old post will now be filled by Rana Talwar.
Roberta Arena is remaining in another key retail job - head of credit cards for Europe and North America - and will be joined by a new corporate planning officer, Shaukat Aziz, "to further globalize the card business."
Citicorp chairman John Reed, in a statement Friday, said, "These assignments are part of our 'Business Directions' strategy and continue providing additional experience for the next generation of Citicorp's leadership."
He underscored his reliance on "senior policy overview" from vice chairmen Collins, William R. Rhodes, and H. Onno Ruding.
With the Canadian-born Mr. Campbell, Citicorp adds more of the consumer mass-marketing skills that have continually been its hallmark. He left Philip Morris last June after 28 years and has been a consultant to Citibank.
