BankUnited Financial Corp. named Ramiro A. Ortiz as its new chief executive, succeeding chairman and chief executive Alfred R. Camner, who is retiring Monday.
Ramiro has served as the president and chief operating officer of the bank since 2002. Previously, he was the chief executive of SunTrust Bank Miami.
Lawrence Bloom was named chairman. He will be succeeded as vice-chairman by board member Bradley S. Weiss.
Camner was named chairman emeritus.
The leadership change comes at a time when banks are struggling with the worst crisis in a generation amid the deterioration of real estate and credit markets nationwide. In September, Fitch Ratings cut the long-term credit ratings on BankUnited and its subsidiary further into junk territory, while also placing the ratings on review for an additional downgrade.
In the same month, the company cut its work force by 12%, with most of the 160 eliminated positions coming from its residential lending operations.
Shares closed at 65 cents on Friday and there was no premarket trading.