Flagstar Bank Names Adler Head of Wholesale Banking

Rhea-AI Summary

Flagstar Bank has appointed Michael Adler as the new executive vice president and head of Wholesale Banking. This role includes overseeing all commercial client coverage teams, treasury management, and non-consumer banking areas. Adler, with over 30 years in commercial banking, aims to transform Flagstar's commercial business into a scalable national platform. He has held significant positions at BBVA USA and Bank of America. Flagstar Bancorp, Inc. (NYSE: FBC), valued at $27.0 billion, provides various banking services through its 158 branches across five states.

Positive

• Appointment of Michael Adler as head of Wholesale Banking could lead to growth in commercial banking.
• Adler's extensive experience may enhance Flagstar's banking capabilities.

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• None.

TROY, Mich., Nov. 9, 2021 /PRNewswire/ -- Flagstar Bank has named Michael Adler as executive vice president and head of Wholesale Banking, which encompasses all commercial client coverage teams, treasury management sales, commercial real estate, as well as non-mortgage capital markets, and non-consumer-facing areas such as foreign exchange/swaps.

In this position, he will be responsible for transforming Flagstar's commercial business into a scalable platform supporting a national growth strategy to include lending, treasury management, and capital markets serving middle market and mid-corporate clients.

Adler brings to Flagstar over 30 years' experience building and growing commercial banking, corporate banking, specialized lending, and capital markets business units on both a regional and national basis. He spent the last 11 years with BBVA USA (now PNC Bank), and the last five as head of corporate banking and capital markets and as a member of the management committee. He started his career at Bank of America in middle market lending and held leadership positions at GE Capital, Fleet Bank, Goldman Sachs, and other financial institutions.

"We're delighted to have someone of Michael's experience to lead and grow our wholesale banking business," said Reggie Davis, president of Banking at Flagstar. "Wholesale Banking is an exciting growth opportunity at Flagstar, and Michael brings a proven track record of building, expanding, and leading highly successful banking teams and driving profitable growth."

About Flagstar  
Flagstar Bancorp, Inc. (NYSE: FBC) is a $27.0 billion savings and loan holding company headquartered in Troy, Mich. Flagstar Bank, FSB, provides commercial, small business, and consumer banking services through 158 branches in Michigan, Indiana, California, Wisconsin and Ohio. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as 84 retail locations in 28 states. Flagstar is a leading national originator and servicer of mortgage and other consumer loans, handling payments and recordkeeping for $272 billion of loans representing over 1.2 million borrowers. For more information, please visit flagstar.com.

For more information contact:

Susan Bergesen
Flagstar Bank
(248) 312-6237

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SOURCE Flagstar Bancorp, Inc.

FAQ

Who has been appointed as the head of Wholesale Banking at Flagstar Bank?

Michael Adler has been appointed as the head of Wholesale Banking at Flagstar Bank.

What experience does Michael Adler bring to Flagstar Bank?

Michael Adler brings over 30 years of experience in commercial banking, having worked at BBVA USA, Bank of America, and other financial institutions.

What are the responsibilities of the Wholesale Banking division at Flagstar Bank?

The Wholesale Banking division covers commercial client teams, treasury management, commercial real estate, and capital markets.

What is the market value of Flagstar Bancorp, Inc.?

Flagstar Bancorp, Inc. has a market value of $27.0 billion.

In how many states does Flagstar Bank operate?

Flagstar Bank operates through 158 branches in Michigan, Indiana, California, Wisconsin, and Ohio.