Steven Freiberg, chief executive officer of Citicorp Investment Services, is moving to the bank's card business Tuesday.
Two vice presidents in Citicorp Investment Services will take over for Mr. Freiberg until a successor is found, a spokeswoman said. They are Dennis Madigan, from sales, and Kim Sharan, from marketing.
Mr. Freiberg, a 17-year veteran of the bank, has led the brokerage unit for two and a half years. The business offers investment products, including mutual funds and annuities, to retail customers.
He helped launch CitiSelect Portfolios, a family of asset-allocation mutual funds, in June 1996 and helped relaunch the company's proprietary annuity family in February.
In the card division, Mr. Freiberg, 40, will help target "new entrants"- college students, people without credit histories, and others without cards.
As is common at Citicorp he has no formal title, but the spokeswoman said the move is a promotion. Mr. Freiberg will report to Sami Siddiqui, head of the North American cards division.