Flagstar Private Bank has appointed Brett Mitstifer, chief investment officer of private banking and wealth management.
As CIO, he will oversee the development of investment strategies and expand the investment product suite to deliver financial solutions designed to anticipate and respond to the needs of high-net-worth clients, noted a company spokesperson in an emailed statement. In addition, Mitstifer will further shape the bank’s investment voice — bringing forward insights, strengthening relationships with clients and partners, and providing guidance to advance both the businesses and clients’ investment approaches.
Mitstifer brings more than three decades of investment management experience to his new role. Most recently, he spent two decades at HSBC Private Bank where he began as senior portfolio manager, advancing to chief investment officer and regional head of investment management. As CIO, he managed $8.5B in assets, oversaw the full private bank investment management process, and developed and successfully launched a digital innovation strategy. Prior to his executive roles at HSBC, Mitstifer also held senior leadership positions at Value Line Asset Management, and Hovey, Youngman & Associates, Inc.
He will be based in New York City and report to Mark Pittsey, executive vice-president and head of private banking and wealth management.
