(Reuters) -Embattled lender New York Community Bancorp on Friday named Craig Gifford as chief financial officer, among other executive appointments.
Gifford, with more than three decades of banking experience, has most recently worked at US Bancorp.
NYCB shares plunged in January after it posted a surprise loss in the fourth quarter, weighed down by higher provisions tied to its exposure to the commercial real estate portfolio.
The stock took a further beating in February when NYCB revealed a fourth-quarter loss that was more than 10 times what it previously stated and disclosed faults in its financial reporting in filings.
NYCB, however, raised $1 billion from investors including former U.S. Treasury Secretary Steven Mnuchin’s Liberty Strategic Capital last month.
Investment firms Hudson Bay Capital, Reverence Capital Partners, Citadel Global Equities, other institutional investors and certain members of the bank’s management also participated in the equity investment.
It had then also named former Comptroller of the Currency, Joseph Otting, as its CEO.
The NYCB stock is down about 72% so far this year.
(Reporting by Pritam Biswas in Bengaluru; Editing by Shilpi Majumdar)
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