This is a bit of a head scratcher. Citigroup has shuffled its top management ranks yet again. Edward Kelly, who took over as CFO in March, didn't last long. He's now in charge of strategy and mergers in a new role as vice chairman, reports the AP. John Gerspach currently the chief accounting officer will take over as CFO. And then there's Gary Crittenden. Recall that he was the highly touted CFO until being replaced by Kelly in March. He was shunted over to head up Citi Holdings, the unit created to hold the most toxic assets, the bad bank. 

This qualifies as a lot of turmoil. Five CFOs in five years! The company has some explaining to do regarding the CFO turnover. Analysts have a whole new personality to get used to. But it would be understandable to see this as something of a red flag. Meanwhile, Eugene McQuade was brought into lead the banking group. The list of his previous employers is notable: Freddie Mac, Merrill Lynch, Bank of America. Some think he's already the heir apparent. 

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