FLAGSTAR BANK APPOINTS BRETT MITSTIFER AS CHIEF INVESTMENT OFFICER OF PRIVATE BANKING AND WEALTH MANAGEMENT

Rhea-AI Summary

Flagstar Bank (NYSE:FLG) has appointed Brett Mitstifer as Executive Vice President and Chief Investment Officer of Private Banking & Wealth Management. With over 30 years of experience, Mitstifer joins from HSBC Private Bank where he managed $8.5 billion in assets.

The appointment comes as Flagstar's Private Banking and Wealth Management division expands significantly, with new Private Client Offices opening in Palm Beach and planned locations in San Francisco, New York's Park Avenue, and Beverly Hills. As of June 30, 2025, Flagstar Financial reported total assets of $92.2 billion, loans of $64.4 billion, deposits of $69.7 billion, and stockholders' equity of $8.1 billion.

[ "Strategic expansion with new Private Client Offices in key wealthy markets", "Appointment of experienced CIO who previously managed $8.5B in assets", "Strong financial position with $92.2B in total assets", "Significant market presence with 360 locations across nine states" ]

Further Positions Flagstar as a Trusted Investment Leader for Private Banking and Wealth Clients Through Insights-Driven and Relationship-Centered Strategy

HICKSVILLE, N.Y., Sept. 3, 2025 /PRNewswire/ -- Flagstar Bank, N.A., (the "Bank") a subsidiary of Flagstar Financial, Inc. (NYSE: FLG) (the "Company"), today announced the appointment of Brett Mitstifer as Executive Vice President and Chief Investment Officer (CIO) of Flagstar Private Banking & Wealth Management. He will be based in New York City and report to Mark Pittsey, Executive Vice President, Head of Private Banking and Wealth Management. Private Banking and Wealth Management has grown significantly in scale and strategic importance over the past year, and this appointment reflects the business's critical role in Flagstar's overall strategy and in its continued transformation.

With over three decades of experience leading investment and wealth management strategies for high-net-worth and ultra-high-net-worth clients, Brett brings a fresh perspective to Flagstar, focused on elevating client relationships. As CIO, he will lead the development of investment strategies and expand the product suite to deliver tailored solutions that anticipate and respond to client needs. In addition, he will further shape the bank's investment voice by bringing forward insights, strengthening relationships with clients and partners, and providing guidance as Flagstar helps clients achieve their strategic objectives through investment success.

"Brett's appointment marks a significant milestone in the growth of Private Banking and Wealth Management at Flagstar. It reflects the critical role this business plays in our commitment to deliver forward-thinking, value-added investment insights to clients," said Pittsey. "By unifying our investment voice under a dedicated leader, we are strengthening our ability to deliver the products, insights, and strategic perspective our clients expect as we continue transforming into a leading U.S. regional bank. I have every confidence that Brett will bring immediate value to the bank and all its relationships."

Most recently, Brett spent two decades at HSBC Private Bank where he began as Senior Portfolio Manager, advancing to Chief Investment Officer & Regional Head of Investment Management. In this role, he managed $8.5 billion in assets, oversaw the full Private Bank investment management process, and developed and successfully launched the Digital Innovation Growth Investment Theme. Prior to his executive role at HSBC, Brett held senior leadership positions at Value Line Asset Management, and Hovey, Youngman & Associates, Inc. He holds a B.S. in Finance from Penn State University and holds a Chartered Financial Analyst^® (CFA^®) designation.

"What drew me to Flagstar was the chance to contribute to something with real momentum and purpose," said Mitstifer. "This is a bank undergoing intentional transformation, and what stood out the most was the commitment to relationships—within the organization, with clients, and across the broader community. Opportunities like this don't come often, and I'm energized to bring that excitement to our clients, expanding the investment solutions we offer and delivering meaningful insights to clients. Most of all, I look forward to listening, to understanding and helping clients navigate the markets with clear, actionable strategies tailored to their goals."

Flagstar Private Bank and Wealth Management continue to build strong momentum across key markets, including the recent opening of its Private Client Office in Palm Beach. Additional locations in San Francisco and on Park Avenue in New York are slated to open this year, with plans underway for an expanded presence in Beverly Hills in 2026. Flagstar Private Bank and Wealth Management serves individuals, families, business owners, and organizations seeking sophisticated financial advice through a dedicated private banker, using a relationship-driven approach to address both their business and personal banking needs. Clients receive a tailored, boutique lending, banking, and wealth management experience that leverages the full breadth and depth of the firm's expertise and capabilities.

Flagstar Financial, Inc.

Flagstar Financial, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The Company is headquartered in Hicksville, New York. At June 30, 2025, the Company had $92.2 billion of assets, $64.4 billion of loans, deposits of $69.7 billion, and total stockholders' equity of $8.1 billion. Flagstar Bank, N.A. operates approximately 360 locations across nine states, with strong footholds in the greater New York/New Jersey metropolitan region and in the upper Midwest, along with a significant presence in fast-growing markets in Florida and the West Coast.

Investor Contact:
Salvatore J. DiMartino
516-683-4286

Media Contact:
Steven Bodakowski
248-312-5872 

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SOURCE Flagstar Financial, Inc.

FAQ

Who is Brett Mitstifer and what is his new role at Flagstar Bank (NYSE:FLG)?

Brett Mitstifer is the newly appointed Executive Vice President and Chief Investment Officer of Flagstar Private Banking & Wealth Management. He brings over 30 years of experience and previously managed $8.5B in assets at HSBC Private Bank.

What are Flagstar Bank's (NYSE:FLG) current financial metrics as of June 2025?

As of June 30, 2025, Flagstar reported total assets of $92.2B, loans of $64.4B, deposits of $69.7B, and stockholders' equity of $8.1B.

Where is Flagstar Bank (NYSE:FLG) expanding its Private Client Offices?

Flagstar has recently opened a Private Client Office in Palm Beach, with planned locations in San Francisco, New York's Park Avenue (2025), and Beverly Hills (2026).

What is Flagstar Bank's (NYSE:FLG) current geographical presence?

Flagstar operates approximately 360 locations across nine states, with strong presence in the New York/New Jersey metro region, upper Midwest, Florida, and the West Coast.

What will be Brett Mitstifer's responsibilities as CIO at Flagstar Bank?

As CIO, Mitstifer will lead investment strategy development, expand the product suite, deliver tailored solutions, provide market insights, and strengthen client relationships while guiding Flagstar's investment approach.