Discover Financial Services announced that Chief Executive Officer Michael Rhodes, who took the role in December amid the finance giant’s compliance and risk-management issues, has resigned. He is leaving to take up the role of CEO at Ally Financial Inc.

Rhodes, who joined Illinois-based Discover from Toronto-Dominion Bank, will remain at Discover until April 1, succeeded by J. Michael Shepherd as interim CEO. Rhodes has over 25 years of experience across retail and consumer banking and a track record of delivering transformative digital, data, and technology strategies.

Prior to Discover, Rhodes spent over 12 years at TD Bank, most recently as Group Head of Canadian Personal Banking, where he oversaw the division dedicated to retail products. In February, Capital One Financial announced it would Discover Financial Services for $35.3 billion, in a deal that would bring together two of the largest credit card companies in the country. Under the terms of the all-stock transaction, Discover Financial shareholders will receive Capital One shares valued at nearly $140.

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