New York Community Bancorp overhauls executive management team

New CFO, general counsel, and commercial lending heads appointed

New York Community Bancorp overhauls executive management team

Commercial real estate lender New York Community Bancorp (NYCB) has announced an overhaul of its executive management team as it looks to drive the next stage of its growth strategy.

The slew of changes includes the appointment of Craig Gifford as chief financial officer, Bao Nguyen as general counsel and chief of staff, Scott Shepherd as head of commercial real estate lending, and James Simons as special advisor to the CEO.

“We are thrilled to welcome Craig, Bao, Scott and James to our executive team,” NYCB president and CEO Joseph Otting said in the bank’s Press release. “Their collective expertise and deep industry knowledge will be instrumental in driving our strategic initiatives forward and solidifying our position as a leading regional bank.”

Gifford joins the company with over 30 years of banking experience. His previous roles include executive vice president of enterprise operations at U.S. Bancorp and corporate controller at Guaranty Financial Group.

Meanwhile, Nguyen brings over 15 years of legal experience in financial services, advising numerous institutions on regulatory matters.  He previously served as a partner at Skadden, Arps, Slate, Meagher & Flom and held senior roles within the Office of the Comptroller of the Currency.

Shepherd’s extensive background in commercial real estate spans over two decades. Before joining NYCB, he was managing director at The Ruth Group, focusing on secured debt financing and complex property restructurings. He founded Archbell Capital, a bridge lender for commercial real estate, and previously spearheaded the commercial real estate group at OneWest Bank.

Read next: NYCB raises more than $1 billion

Simons’s 45-year banking career includes senior roles at First Citizens Bank, Associated Bank, Guaranty Bancorp, and U.S. Bancorp. His expertise covers credit administration, portfolio management, and lending, with significant experience in loan workouts and bank regulatory frameworks.

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