Citibanks CEO Vikram Pandit, who is under fire for the company’s failure to adequately handle the crisis, has been on the job for a week and a half.
On Wednesday, his resignation was announced.
The company said Pandit would continue in his current position while the board reviewed the situation.
Pandit will become Citibans CEO, according to a statement.
He will be replaced by chief financial officer Peter Pinto, who was appointed on January 30, 2017.
Pinto was CitibANK’s chief financial and administrative officer for the past three years, before taking over as chief financial executive on December 3.
Pandits leadership was questioned after a series of problems surfaced in the wake of the 2008 financial crisis.
The crisis left Citibanked in a difficult spot, with its $1.9 trillion market cap in jeopardy and its $4.3 billion in cash holdings down to just $3.6 billion, according the company.
It also had an additional $8.9 billion in debt.
The $2.5 billion of new debt was repaid through the sale of its debt-free credit facility.
Pandith’s departure is the latest shakeup in a company that has been the target of a series on the CEO’s role.
In April, Pandit resigned after Citibanking admitted to misleading regulators about the number of employees in the company and its impact on the bank’s ability to serve the country’s consumers.
Pandito had been in office since January.
Citibanka has since been renamed Citibas.