Chief Operating Officer of New York Community Bank, Julie-Ann Signorille-Browne has resigned as of May 24, the bank announced in a declaration on Thursday.
During her time at NYCB, Signorille-Browne led the bank’s integration with Flagstar and later the integration of assets and liabilities that NYCB bought from the failed Signature Bank, according to a biography on the company’s website.
Signorille-Browne came to NYCB in September 2021 from Citizens Bank, where she was Chief Operating Officer of Consumer Banking, according to her LinkedIn profile. But she cut her teeth combining banks’ assets when she worked as a merger integration manager during KeyBank’s 2016 acquisition of First Niagara Bank.
NYCB’s rapid growth — it bought pieces of Signature less than five months after regulators approved its acquisition of Flagstar — has drawn criticism from lawmakers who argue that Office of the Comptroller of the Currency investigators should have paid more attention to the bank spend when it crossed the $100 mark. threshold of billions of assets.
Early this year, NYCB was seen as the riskiest bank in terms of its exposure to commercial real estate. The bank announced a surprise $252 million loss in January, causing the bank’s shares to drop precipitously. That in turn led to a management makeover.
The bank’s then-CEO, Thomas Cangemi, resigned in February when the bank restated its fourth-quarter results to include a $2.4 billion goodwill impairment charge. Cangemi’s replacement, then NYCB executive chairman Alessandro DiNello, hired a new risk chief and audit manager. (The previous occupants of those positions left before NYCB released its fourth-quarter results—raising more criticism of the bank.)
But the makeover kicked into high gear in March, when a group of investors, led by former Treasury Secretary Steven Mnuchin, gave NYCB a $1.05 billion cash injection. The investors repopulated NYCB’s board and installed former Comptroller of the Currency Joseph Otting as the bank’s third CEO of the young year.
Signorille-Browne’s departure is just the latest in a series of board changes this year. NYCB hired a new CFO, general counsel and head of commercial real estate lending last month.
In her role as COO, Signorille-Browne is responsible for human resources and technology, retail and commercial deposits and lending, corporate real estate, sourcing and supplier management, and the enterprise program management office, according to her NYCB biography.
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