HICKSVILLE, NY, February 28, 2022 /PRNewswire/ — New York Community Bancorp, Inc. (NYSE: NYCB) (the “Company” or “NYCB”) today announced the appointment of Marshall Lux – a prominent and highly regarded professional in the financial services industry – to the Boards of Directors of the Company and its principal banking subsidiary, New York Community Bank (the “Bank”), effective immediately. He was also appointed to the Audit Committee and the Risk Assessment Committee.
Mr. Lux has a long and distinguished career in financial services, spanning nearly 40 years and encompassing a wide range of industry sub-sectors including commercial banking, consumer finance, insurance, brokerages /dealers, wealth and asset management, credit cards, private equity, and FinTech. After attending princeton university and Harvard Business School, in 1986, he began his career at McKinsey & Co., where he advised companies on fundamental strategy and operational matters, including consumer protection, mergers and merger integration, business development new products, expense management and capital initiatives. Mr. Lux’s experience at McKinsey also included advising financial institutions on various risk and compliance matters, including consumer compliance in retail banking, mortgages and other consumer lending. .
He left McKinsey as a senior partner after more than 20 years to join JP Morgan as global chief risk officer for Chase Consumer Bank, where he served from 2007 to 2009, managing a team of 10,000 employees across the world, reporting directly to the Board of Directors. , and working closely with the CEO on Consumer Bank’s risk strategy Jamie Dimon. During his tenure, he developed a number of risk mitigation strategies and models by interacting frequently with various regulatory bodies regarding the bank’s consumer compliance practices and helping to successfully steer the bank to through the mortgage crisis.
He left JP Morgan in 2009 to return to his consulting roots with the Boston Consulting Group (“BCG”), where he was the firm’s first directly elected senior partner. At BCG, Mr. Lux continued to focus on advising financial services companies, including residential mortgage lenders and other consumer credit providers on various consumer compliance issues. He ended his full-time professional career in 2014 at BCG, where he remains Senior Advisor.
Commenting on the appointment of Mr. Lux to the Boards of Directors of the Company and the Bank, Chairman of the Board, President and Chief Executive Officer, Thomas R. Cangemi said: “Marshall is a highly respected finance professional and thought leader in the financial services industry. He possesses all the qualities one would expect of a director – deep industry knowledge, hands-on experience significant, in-depth understanding of our business and its strategies, as well as a strong regulatory background. I know that his knowledge, care and unique work experiences will be invaluable in helping us meet our commitments. meaningful to our customers, communities and shareholders.”
He is currently a member of several boards, including Mphasis, a publicly traded global IT company, DHB Capital, a public SPAC, and Kapitus, a private small business lender. He is also a director of the Guardian Life Mutual Funds Board, part of the Guardian Life Insurance Company. In addition to his board responsibilities, he advises a number of FinTech companies involved in payment systems, mortgages, digital assets, cybersecurity and wealth management.
Mr. Lux is also a member of Harvard University, where he teaches and writes. He is a prolific writer having authored or co-authored ten articles to date. Some of his most prominent articles focus on consumer compliance and the particularly important role of community banks in the retail and small business lending markets. His expertise has also been recognized by the public sector, where he has advised the Federal Reserve Board, the 9/11 Commission, and has also testified before Congress on a number of financial matters.
“We look forward to benefiting from Marshall’s decades-long knowledge, expertise and experience,” Mr. Cangemi continued, “as he joins our boards of directors and as a member of management committees. ‘Audit and Risk Assessment.’
About New York Community Bancorp, Inc.
Situated at Hicksville, NYNew York Community Bancorp, Inc. is a leading provider of multifamily loans on rent-regulated non-luxury apartment buildings in New York City, and the parent company of New York Community Bank. As of December 31, 2021, the Company declared assets of $59.5 billionloans from $45.7 billiondeposits of $35.1 billionand equity of $7.0 billion.
Reflecting our growth through a series of acquisitions, the company operates 237 branches across eight local divisions, each with a history of service and strength: Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank and Atlantic Bank in new York; Garden State Community Bank in New Jersey; Ohio Savings Bank at Ohio; and AmTrust Bank at Florida and Arizona.
Salvatore J. DiMartino
SOURCE New York Community Bancorp, Inc.