Fifth Third Bancorp (Nasdaq:FITB) announced today that Aravind Immaneni
will be joining the Bank effective Nov. 14, 2016, as executive vice
president and chief operations and technology officer. Immaneni will
report to President and CEO Greg D. Carmichael. He will be responsible
for all aspects of information technology and back-office operations at
the $143 billion bank.
Immaneni has extensive experience in transforming businesses by
reinventing operations, technology and processes. He joins Fifth Third
from TD Bank, where he currently is head of Retail Distribution Strategy
& Operations. In that role, Immaneni has oversight for branch
operations, infrastructure, distribution strategy and transformation for
TD Bank’s 1,280-branch network from Maine to Florida. Prior to his
current role, he served as head of Retail Bank Operations, with
oversight for back-office operations, systems, loan origination and
underwriting for TD’s Consumer Bank.
“We are excited to have an executive of Aravind’s caliber and seasoning
join Fifth Third in this role at this time,” Carmichael said. “In
addition to being able to contribute immediately to current lines of
business, Aravind also will put his extensive expertise and passion to
work on new initiatives under way to grow revenue, tightly manage
expenses and improve the customer experience.”
Immaneni started his career with DuPont in 1997, serving in roles
spanning research, operations and marketing. He joined Capital One in
2002, holding senior leadership positions in National Direct Bank,
Deposit Operations & External Fraud, and Commercial & Small Business
Operations. In each role, he led significant transformation by
integrating process improvement and technology.
Immaneni earned a bachelor’s degree in Chemical Engineering from
IIT-Madras and a doctorate from the University of Illinois at
Champaign-Urbana. He also graduated Palmer Scholar with an MBA from the
Wharton School of Business. He is a certified Six Sigma Master Black
Belt. Immaneni is also an avid ultra-distance athlete and is a two-time
Ironman finisher. He and his family will relocate to the Cincinnati area
from New Jersey.
“I am thrilled to join the leadership team at Fifth Third,” Immaneni
said. “This is a terrific time to leverage my experience in operations
and technology at Fifth Third to help the Company achieve and exceed its
strategic objectives.”
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. As of September 30, 2016, the Company
had $143 billion in assets and operates 1,191 full-service Banking
Centers, including 94 Bank Mart® locations, most open seven days a week,
inside select grocery stores and 2,497 ATMs in Ohio, Kentucky, Indiana,
Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North
Carolina. Fifth Third operates four main businesses: Commercial Banking,
Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth
Third also has an 18.3% interest in Vantiv Holding, LLC. Fifth Third is
among the largest money managers in the Midwest and, as of September 30,
2016, had $314 billion in assets under care, of which it managed $27
billion for individuals, corporations and not-for-profit organizations. 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.
Copyright © 2016. Fifth Third Bank, Member FDIC, Equal Housing Lender,
All Rights Reserved.
Fifth Third Bancorp
Sameer Gokhale (Investors), 513-534-2219
or
Larry Magnesen (Media), 513-534-8055