Flagstar Bank CEO and Executive Team

The CEO of Flagstar Bank is Santander Holdings USA, Inc. subsidiary, with Loretta M. Woods serving as the President and CEO of Flagstar Bank.

Loretta M. Woods has been leading the bank since 2018, bringing over 30 years of banking experience to the role.

Flagstar Bank has a diverse executive team, with various leaders overseeing different aspects of the bank's operations.

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Flagstar Bank's leadership team is comprised of 24% female executives and 76% male executives, which may indicate a need for more diversity in their upper management.

The bank's CEO, Alessandro (Sandro) DiNello, has a long history with the company, starting as a bank examiner and working his way up to president and CEO.

Under DiNello's leadership, Flagstar has consistently delivered solid results, thanks to careful growth and industry-leading risk management.

DiNello's experience in various roles within the bank, including head of branch banking and retail product strategy, has given him a well-rounded understanding of the company's operations.

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Lee Smith, an executive vice president and president of mortgage, brings a wealth of experience from outside the bank, having worked at companies like Ernst & Young and MatlinPatterson Advisers Europe.

Here is a breakdown of the ethnicity of Flagstar Bank's executive officers:

Similarly, the bank's employee base is predominantly White, with 66% of employees identifying as White, followed by Hispanic or Latino (11%), and Black or African American (11%).

Flagstar Bank's leadership team has a diverse background, but it's worth noting that the executive team is 24% female and 76% male. The management team is predominantly White, with 63% of members identifying as such.

The bank's current CEO, Alessandro (Sandro) DiNello, has been in his position since mid-2013. He has a long history with the bank, starting as a bank examiner and later serving as president of Security Savings Bank, which was acquired by Flagstar Bank in 1994.

DiNello has held various leadership roles at Flagstar, including head of branch banking, retail product strategy, and commercial units. He has also been responsible for the bank's technology, operations, and government affairs.

Here's a breakdown of the racial diversity of the management team:

The leadership team's effectiveness in guiding the company is evident in the bank's consistent delivery of solid results, underpinned by careful, thoughtful growth and industry-leading risk management.

Flagstar Bank was fined $3.5 million by the Securities and Exchange Commission for making allegedly misleading statements about a 2021 cyberattack.

The bank "negligently made" materially misleading statements on its website and in financial filings after a hacker gained access to Flagstar's Citrix environment in late 2021 and stole personally identifying information of 1.5 million customers.

Flagstar failed to disclose that it had already experienced such attacks that resulted in a customer data leak and interruptions to its mortgage origination business.

The bank made misleading statements regarding the scope of the Citrix breach in a June 17, 2022, notice to customers and an August 9, 2022, securities filing.

Flagstar also failed to maintain disclosure controls and procedures that would have ensured the bank was ready with all relevant information to make required disclosures.

The bank neither admitted nor denied the commission's allegations, but it consented to the $3.5 million penalty and a cease-and-desist order barring it from making misleading statements in the future.

Flagstar remains committed to its compliance and regulatory obligations, according to a spokesperson.

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