NYCB Looks to the Leader of a Bank It Bought for a Turnaround.

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    • Abstract:
      Alessandro DiNello, former CEO of Flagstar Bancorp Inc., has been named the new CEO of New York Community Bancorp (NYCB) after the bank experienced financial troubles. NYCB, a major lender to New York apartment landlords, has been stockpiling cash to cover potential loan problems and recently announced "material weaknesses" in loan risk tracking. DiNello's appointment is seen as a positive move due to his successful turnaround of Flagstar and his experience in the banking industry. During his time at Flagstar, the stock price of the bank increased significantly, and DiNello led the bank through the challenges of the Covid-19 pandemic. [Extracted from the article]
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