Person Details

Marshall Lux

Marshall Lux serves as a Director of New York Community Bancorp, Inc. and its bank subsidiary, Flagstar Bank, N.A. He joined the Company’s board in February 2022. In addition to chairing the Technology Committee, Marshall also serves on the Audit and Risk Assessment Committees of the Company and the Bank.

Marshall Lux is a prominent and highly-regarded financial services industry professional whose career spans nearly four decades and crosses a broad variety of financial industry subsectors, including consumer finance, commercial banks, insurance companies, broker/dealers, wealth and asset management firms, card companies, private equity, and FinTechs. Mr. Lux’s experiences at McKinsey and elsewhere during his career, included advising financial institutions regarding various risk and compliance matters, including consumer compliance relating to retail banking, mortgage lending, and other lending. Throughout his career he has built strong relationships with C-suite executives, becoming their trusted advisor and confidant.

He attended Princeton University as an undergraduate and Harvard Business School for his graduate studies. Upon graduating from Harvard in 1986, Mr. Lux began working at McKinsey & Co., where he advised companies on core strategies and operational issues, including with respect to consumer compliance issues, mergers and merger integration, new product design and rollout, expense management, credit quality, crisis management, and capital initiatives.

Marshall left McKinsey as a Senior Partner after nearly 20 years to join one of his clients, JP Morgan, as Global Chief Risk Officer for Chase Consumer Bank. In this capacity, he managed a staff of 10,000 employees around the world, reported to the Company’s board of directors, and worked hand-in-hand on the Consumer Bank risk strategy with CEO Jamie Dimon. During his tenure at JP Morgan, he developed a number of risk strategies and models which helped successfully steer the bank through the mortgage crisis, also advising regarding various consumer compliance matters relating to JPMC’s mortgage lending – including as such risks expanded as a result of the crisis.

He left JP Morgan in 2009, to return to his consulting roots, with the Boston Consulting Group (“BCG”), where he was their first directly elected Senior Partner. At BCG, he advised many of the same financial services companies that he had advised earlier in his career at McKinsey. At Boston Consulting, Mr. Lux has continued his focus on advising financial service companies – including residential mortgage lenders and other consumer credit providers.

He finished his full-time professional career with BCG in 2014, transitioning from Senior Partner to Senior Advisor, so he could focus on working with boards. He remains an advisor to BCG. He currently is a member of several boards including Mphasis, a publicly-traded global IT company, DHB Capital, a public SPAC, and Kapitus, a privately-held small business lender. He also is a director of the Guardian Life Mutual Funds Board, which is the wealth management arm of the Guardian Life Insurance Company. In addition to his board involvement, he also advises a number of FinTech companies that are involved in payment systems, mortgage lending, digital assets, cybersecurity, and wealth management. Mr. Lux is a member on the investment committee of the Simons Foundation, one of the largest charitable organizations in the US, focused on math and natural science.  

In addition to being a senior fellow at Harvard University where he teaches and writes, Mr. Lux is also a senior fellow at Wharton and Kellogg/Northwestern. He is a prolific writer having authored or co-authored ten papers on a broad range of topics, including the importance of community banks, credit access, fair lending, and consumer privacy. His experience and expertise have also been recognized by the public sector where he has advised Janet Yellen while she was Chair of the Federal Reserve Board, the 9/11 Commission, and has also testified before Congress on a number of financial topics.