HICKSVILLE, N.Y. - New York Community Bancorp , Inc. (NYSE: NYSE:NYCB) has announced significant leadership changes with Alessandro DiNello taking over as President and CEO, effective today, and Marshall Lux stepping in as the Presiding Director of the Board.
DiNello succeeds Thomas R. Cangemi, who has stepped down from these roles but remains a board member. DiNello's appointment follows his recent role as Executive Chairman, which began on February 6, 2024. His experience includes a notable tenure as President and CEO of Flagstar Bank, which was acquired by NYCB in December 2022. DiNello's leadership at Flagstar was marked by consistent performance and industry-recognized risk management.
Marshall Lux, who has served as an independent director since 2022, replaces Hanif "Wally" Dahya as Presiding Director and also takes on the role of Chair of the Board's Nominating and Corporate Governance Committee. Lux's background includes a career in financial services spanning nearly four decades, with roles such as Senior Partner at Boston Consulting Group and Global Chief Risk Officer for Chase Consumer Bank at JP Morgan.
NYCB, the parent company of Flagstar Bank, N.A., reported assets of $116.3 billion and loans of $85.8 billion as of December 31, 2023. The company holds a strong presence in the banking sector, particularly in multi-family lending, mortgage origination and servicing, and warehouse lending. It operates 420 branches and has a significant mortgage servicing portfolio with 1.4 million accounts.
This leadership transition is part of NYCB's ongoing transformation into a more diversified commercial bank, with DiNello at the helm aiming to deliver long-term results for customers, employees, and shareholders.
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