Flagstar Bancorp in Troy, Mich., said that its chief executive has stepped aside after just eight months in the post.

The $13.1-billion-asset company said Friday that Allesandro DiNello had succeeded Michael Tierney, effective immediately. DiNello had been the president and chief administrative officer of Flagstar's bank since March. Tierney, who became the company's CEO is October, has returned to his role as the bank's head of personal financial services.

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