In Michigan, ""Flagstar Bancorp, Inc. (FBC)"":https://www.flagstar.com/, and its subsidiary, ""Flagstar Bank (FSB)"":https://www.flagstar.com/ are starting the new year with an executive leadership shakeup. Recent changes included the promotion of Alessandro DiNello to president and chief administrative officer of FSB and Matthew Kerin to president of FSB's mortgage banking unit.[IMAGE]
Previously the EVP of personal financial services for FSB, DiNello's new role encompasses all banking operations, as well as the bank's compliance practices.
DiNello joined FSB in 1979, and he has served in various senior management positions for the organization, including EVP of retail banking.[COLUMN_BREAK]
""I look forward to taking this new position at Flagstar,"" said DiNello. ""Having been a part of this organization for over 30 years, I have never been as excited about our future as I am today. While there is still work to be done to further enhance our risk management and controls, systems and processes, we remain focused on continuing to do so.
""Our renewed focus on technology and information, as well as our strong commitment to good governance, will prepare Flagstar, its management and its board for success for years to come,"" DiNello stated.
Kerin, who was EVP and managing director of mortgage banking for FSB prior to his promotion, will now assume responsibility for the bank's mortgage-related functions. Additionally, Kerin will focus on risk management, operational efficiency, and quality control for FSB's lending operations.
""My team and I, as well as Flagstar's executive management team and board of directors, are firmly committed to building a sustainable mortgage business with an emphasis on risk management, quality control and operational excellence,"" commented Kerin.
""Sandro and Matt are both committed to the continued safety and soundness of Flagstar, with a strong focus on quality, risk management and good governance, and together, we will lead Flagstar into the future,"" concluded Michael Tierney, president and CEO of FBC.