Flagstar Bancorp in Troy, Mich., has picked Andrew Ottaway for the newly created position of managing director of lending.
Ottaway will lead the $12.5 billion-asset bank's nonmortgage lending activities, including commercial real estate, large corporate lending, middle-market and warehouse lending. He will also have responsibilities in connection with consumer finance, equipment finance, government banking, treasury management and strategic alliances.
"We are pleased to have someone with [Ottaway's] strong experience, Michigan background, and professionalism join Flagstar in this very important role," Chief Executive Alessandro DiNello said in a news release this week. "Building the bank's balance sheet will be critical to the continued diversification of our earnings, and [Ottaway] will play a big part in that effort."
Before joining Flagstar, Ottaway most recently served as senior vice president and chief credit officer for wealth management and retail banking at Comerica Bank. A Comerica spokesman told American Banker that the company has not yet named his replacement.
