Flagstar Bank in Hicksville, N.Y., has split the role of president.
The bank said in a press release that Joseph Otting will remain chairman and CEO, but will relinguish his role as president. The post will be filled by Richard Raffetto and Lee Smith, who will also serve as co-chief operating officers.
Raffetto, who was also named chief banking officer, was president of commercial and private banking. Smith will remain chief financial officer.
Baeo Nguyen, who was general counsel, was named chief legal officer. Nguyen remains chief of staff. Peter Sullivan, who was senior deputy general counsel and chief regulatory counsel, became general counsel.