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Fifth Third Strengthens Payments and Commerce Solutions Team

CINCINNATI--(BUSINESS WIRE)--Oct. 18, 2017-- Fifth Third Bancorp (Nasdaq: FITB) announced today it is strengthening its Payments and Commerce Solutions team with the hiring of Jed Scala and Siva Gowrishankar.

The Payments and Commerce Solutions division encompasses consumer cards, commercial cards, treasury management, emerging payments and commerce solutions.

“The Payments and Commerce Solutions division plays a critical role in helping Fifth Third address evolving needs of our customers and clients as they seek out innovative and valuable financial solutions,” said Tim Spence, executive vice president and chief strategy officer for Fifth Third. “We believe the addition of Jed and Siva will help us elevate our services, foster innovation and position us to be competitive in the payments industry.”

Jed Scalajoins Fifth Third as executive vice president and head of Payments and Commerce Solutions, reporting to Tim Spence. He brings more than two decades of financial-services experience including leading and overseeing growth in payment, loyalty and lending businesses across consumer and small-business segments at American Express, serving most recently as senior vice president and general manager of US Consumer Lending. Scala received a bachelor’s degree from Williams College and an MBA from Columbia Business School.

Siva Gowrishankar will serve as senior vice president and head of credit strategy and optimization; He brings nearly 20 years of experience with financial services, most recently as chief credit and analytics officer at GreenSky and prior to this in credit and analytics roles at Barclaycard and Capital One. He received an MBA from the University of Virginia. He’ll report to Scala.

To deepen the division’s capabilities and comprehensive services, Bridgit Chayt, senior vice president and director of wholesale payments, will now lead the Wholesale Payments and Treasury Management teams. Chayt joined Fifth Third in 2016 and will report to Scala. The wholesale payments and treasury management team offers solutions and resources tailored to clients’ individual needs, serving industries and business segments such as health care, retail, gaming and entertainment. She has over three decades of experience with financial services, including at Comerica Bank, where she led strategy and revenue growth for deposit-rich and transaction-rich businesses.

About Fifth Third

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of June 30, 2017, the Company had $141 billion in assets and operated 1,157 full-service Banking Centers and 2,461 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to more than 45,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2017, had $330 billion in assets under care, of which it managed $34 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Member FDIC, Equal Housing Lender.

Source: Fifth Third Bancorp

Fifth Third Bancorp
Sean Parker (Media), 513-534-NEWS
Sameer Gokhale (Investors), 513-534-2219