Flagstar Bank, N.A., a subsidiary of Flagstar Financial, Inc. (NYSE: FLG), is pleased to announce the appointment of Mark Pittsey as Executive Vice President, Head of Private Banking and Wealth Management. With extensive expertise in global private banking, wealth management, and financial distribution, Mark has a proven track record in leading teams, creating and driving strategic initiatives, and achieving significant business growth. His background spans managing a broad range of clients—from retail customers to high-net-worth individuals, ultra-high-net-worth clients, and family offices—and brings with him a wealth of experience from top-tier financial institutions.
“Mark’s extensive background in private banking and wealth management at leading financial services organizations aligns perfectly with our vision of driving continued growth in these core business lines,” said Rich Raffetto, Senior Executive Vice President and President of Commercial & Private Banking. “As private banking and wealth management seamlessly work together to meet the individual needs of our high-net-worth clients and their businesses, Mark’s leadership will be key to scaling both important segments. This integrated approach ensures we continue to offer industry-leading services while making significant strides in our transformation. Mark’s addition complements our already strong private banking and wealth management leadership team, led by Jason Birnbaum, President of Private Banking, and Bill Maguire, President of Flagstar Advisors, Inc., respectively, and underscores our commitment to investing in the organization, leadership, and oversight to drive the growth of our core businesses.”
Most recently, Mark served as Head of Global Private Banking Americas and Wealth and Distribution USA at HSBC, where he led all strategic, governance, operational, and business aspects of the private bank and retail wealth team. In this role, he managed 560 employees, and more than $80 billion in total private wealth assets and bank deposits. Prior to his executive role at HSBC, Mark held senior leadership positions at Deutsche Bank and Wells Fargo, including as Northwest Region Head for Deutsche Bank Private Wealth Management and San Francisco Region Head for Wells Fargo Private Bank, where he successfully led teams and cultivated strong client relationships across Northern California and Seattle.
Mark’s ability to integrate and successful track record in driving growth across both private banking and wealth management practices aligns perfectly with Flagstar’s ambitious vision to enhance and expand these key business lines.
“I am excited to join at such a pivotal time in the firm’s transformation into a leading regional bank, as Flagstar is poised for growth over the next several years,” said Mark Pittsey. “I look forward to collaborating with my colleagues to elevate our private banking and wealth management offerings, ensuring a seamless and comprehensive approach to meet the evolving needs of all client segments.”
Mark will be jointly based in Northern California and New York City and will report to Rich Raffetto.
About Flagstar Financial, Inc.
Flagstar Financial, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The Company is headquartered in Hicksville, New York. At December 31, 2024, the Company had $100.2 billion of assets, $69.2 billion of loans, deposits of $75.9 billion, and total stockholders’ equity of $8.2 billion.
Flagstar Bank, N.A. operates over 400 locations across 10 states, including a significant presence in the Northeast and Midwest and locations in high growth markets in the Southeast and West Coast. In addition, the Bank has approximately 80 private banking teams located in over 10 cities in the metropolitan New York City region and on the West Coast, which serve the needs of high-net worth individuals and their businesses.
