NYCB, a struggling $78B resi mortgage servicer, to receive $1B equity investment
Housing Wire
MARCH 6, 2024
The move strengthens the bank’s balance sheet amid a confidence crisis related to its commercial real estate loan portfolio. A former CEO of OneWest Bank from 2010 and 2015, Otting will become the CEO of NYCB, replacing Alessandro DiNello, who has held the position since Thomas Cangemi stepped down earlier this week.
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