Lee Smith has been promoted to senior executive vice president and chief financial officer at Flagstar Financial.
The appointment follows the decision of current CFO Craig Gifford to step down to reengage in personal endeavors outside of the banking industry.
Gifford will remain with Flagstar through March 31, 2025, and work closely with Smith during the transition period, ensuring a seamless hand-over and continued support for the Bank’s ongoing initiatives, the bank says in a release.
“For more than a decade, Lee has been an instrumental member of Flagstar’s executive team. He is a proven leader with a strong track record, has the requisite experience and expertise, and possesses deep knowledge of the company,” says Joseph M. Otting, chairman, president, and CEO of Flagstar. “The board of directors and i have full faith and confidence in lee to continue to help guide the company in this financial leadership position.”
Smith joined legacy Flagstar Bancorp, Inc. in 2013 as COO and his transition to CFO comes after serving on Flagstar’s executive management team for more than a decade, most recently as president of mortgage.
He has an extensive background in accounting, finance, mortgage, private equity, and operations, spanning more than 25 years.
His experience in managing large-scale transactions, optimizing financials and operations, and working with regulators demonstrates a strong ability to drive financial performance, ensure compliance, and lead financial operations. Additionally, his leadership in M&A deals, capital markets, and financial management positions him well to oversee financial strategies, risk mitigation, and operational efficiency at a senior financial level.
His prior roles include partner at Matlin Patterson Global Advisers, a private investment firm.
