Flagstar Bancorp Inc. in Troy, Mich., on Monday announced several additions to its executive team.

Steven Issa, a former managing director of Sovereign Bank's New England division, was named managing director for commercial banking, an area where the $13.6 billion-asset company, largely known for mortgages, wants to grow. Issa will also oversee Flagstar's expansion in the Northeast.

It also hired Michael Tierney, former president and chief executive of Bluewater Bank Group, an investment group formed to buy Michigan banks, as managing director of retail banking. Tierney will also serve as market president for the Midwest.

The company also hired John Chipman to head its specialty lending division, Michael Maher as chief accounting officer and Daniel Landers as chief credit officer.

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