William I. Campbell, executive vice president and co-head of Citigroup's global consumer banking operations, said Thursday that he plans to resign later this year.
The departure would leave control of the company's sprawling consumer operations with Robert I. Lipp, a longtime Travelers Group executive who has served as co-head with Mr. Campbell since the Citicorp-Travelers merger last year.
Mr. Lipp, 60, was named chairman and chief executive officer of the global consumer group, effective immediately. Mr. Campbell, 55, is to remain on a consulting basis without day-to-day responsibilities, Citigroup said.
Neither executive was available for an interview Thursday.
Observers said more resignations by Citibank veterans will follow. Dennis Martin, head of emerging markets operations in the corporate bank, has made known his plans to leave in May, the company said.
"This is not unexpected," said Diane Glossman, an analyst at Lehman Brothers. As the merger integration continues, "a lot of these operations will move to a single manager."
In a statement, Mr. Campbell said his work at the bank was nearly complete.
"With clear evidence of the success of our merger and confidence that our long-term franchise goals are well embedded in our businesses, I have concluded that this is an opportune time for me to pursue other interests in my life," he said.
He is the highest-profile executive to make such a move since last fall's ouster of Citigroup president James Dimon. He was deeply involved in corporate banking operations that had merger-integration problems and heavy trading losses. Consumer businesses were said to have come through the merger much more smoothly.
"They are in a very good place with respect to consumer banking," said Carla D'Arista, an analyst at Friedman Billings Ramsey. "The consumer business is at the top of its game."
Mr. Campbell and Mr. Lipp were given their joint assignment last spring, soon after the merger was announced. Mr. Campbell, a onetime Philip Morris executive, is viewed as less of an operational than a marketing expert. His main task was to hone marketing and branding efforts.
Mr. Lipp, a former executive of Chemical Banking Corp., joined Commercial Credit Co., a predecessor company of Travelers, in 1986.