While the company searches for his replacement, chairman Simon Williams and the senior leadership team will lead the business.
He was appointed to the firm in April and has 30 years’ financial services experience including nine years at Citigroup as the head of its international Retail Bank and three years as the head of HSBC’s Wealth Management group.
Williams will be supported by co-founder Jonathan Galore who helped establish Trussle in 2015 and remains closely involved in the business.
Malhi (pictured), who has also stepped down from the board, leaves the business with immediate effect. Trussle declined to comment on his reasons for leaving.
The firm told Mortgage Solutions there was no set deadline for recruiting the new CEO but said it would “look to find the best possible candidate for the role”.
Trussle’s chairman, Simon Williams, said: “I would like to thank Ishaan both personally and on behalf of the board for his efforts over the last five years, building Trussle to where it is today and playing an instrumental role in our mission of making mortgages fairer.
“We’re at a pivotal stage of Trussle’s journey and a new leader will be central to build on Ishaan’s vision during our next phase of development and to capitalise on the immense opportunity that lies ahead of us.”