NY Community Bank Raises $1B, Names New CEO, Stock Jumps 8%
• New York Community Bank (NYCB) raised $1 billion from investors including former Treasury Secretary Steven Mnuchin's firm
• The capital infusion comes as NYCB has faced pressure after posting a surprise loss and cutting its dividend
• The investment group also includes firms like Hudson Bay Capital and Reverence Capital Partners
• NYCB named former Comptroller Joseph Otting as its new CEO, replacing Alessandro DiNello
• The capital raise and leadership change boosted NYCB's stock price over 8% during Wednesday's trading