New York Community Bancorp. Inc. said late Tuesday that it has named Dominick Ciampa as its chairman.
Chief Executive Joseph R. Ficalora had held the chairman's title for nearly four years. The $41.7 billion-asset company said it separated the chairman and CEO jobs on Ficalora’s recommendation.
"This action is consistent with the highest of corporate governance standards, and is certainly appropriate for a company of our evolving stature and size," Ficalora was quoted as saying in a news release. "The appointment of Dominick Ciampa as chairman is especially fitting, given his significant expertise as a developer and owner of commercial real estate in our local market, and the exemplary leadership he has demonstrated as chairman of the mortgage and real estate committee of the board of the community bank for the past seven years. As we look forward to growing our business and the company in 2011, we will continue to benefit from Mr. Ciampa's invaluable insight as he assumes the chairmanship role."
The change is set for Jan. 3.
Ciampa is a principal and partner of the Ciampa Organization, a Queens-based real estate development firm that was founded in 1975, the press release said. He has been a member of the boards of New York Community and its community banking unit since 1995 and of its commercial bank since December 2005. He has headed the mortgage and real estate committee of the community bank since 2003. He also serves on the audit, investment and compliance committees.
Ficalora has been president and CEO and a director since 1993 and will remain in those positions. He served a previous stint as chairman of the company from July 1993 to July 2001.
