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The firms that lined up to provide the infusion include Liberty Strategic Capital, a firm founded by Mnuchin in 2021, as well as Hudson Bay Capital, Reverence Capital Partners, and Citadel Global Equities. They and some bank managers will purchase common and convertible-preferred stock, effectively taking control of the Hicksville, N.Y.-based company.
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The deal also comes with a new change at the top. Former Comptroller of the Currency Joseph Otting will become NYCB's new CEO, the third person to hold that title in just the last few weeks.
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