New York Community Bancorp Appoints Joseph M. Otting Chairman


Joseph M. Otting has been appointed to the additional role of executive chairman of the board of New York Community Bancorp, parent company of Flagstar Bank.

Otting’s appointment will better facilitate his ability, alongside the new senior executive leadership team, to continue to improve all aspects of the company’s operations and execute on its strategic initiatives.

In conjunction with Otting’s appointment, Alessandro P. DiNello will step down from his role as non-executive chairman of the company and the bank. He will continue to serve as a board director and a senior advisor to the CEO, where his strong banking knowledge will support. Otting, and the rest of the senior executive leadership team as they continue to turn the bank around following the March 2024 capital raise.

Otting has had a long, distinguished career in banking including having served as CEO of OneWest Bank from 2010 to 2015, as the 31st Comptroller of the Currency from 2017 to 2020, and as acting director of the Federal Housing Finance Agency in 2018.

He was named president and CEO of New York Community Bancorp on April 1, 2024.

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