HBOS has announced a revamp of its retail division, including the departure of its head Benny Higgins.
HBOS's retail unit has been hit by price competition
The bank also said finance director Phil Hodkinson will retire at 50 next year, and will be replaced by a former incumbent, Mike Ellis.
Mr Ellis will return to the bank after retiring at the end of 2005.
HBOS said it would change the structure of its retail business by splitting retail distribution and retail products.
"The structural changes we have introduced in our retail business are right for the group," said chief executive Andy Hornby.
Mr Higgins, who moved from Royal Bank of Scotland last year to head the retail unit, will leave HBOS at the end of 2007.
Mr Hornby told the Reuters news agency that Mr Higgins' departure was not related to a recent 8% drop in profits at the retail unit.
The business was hit by a sharp drop in its share of mortgages earlier in the year after a new pricing strategy went wrong, although the bank says its share has since recovered.