JPMorgan Chase Veteran to Lead Operations
Fifth Third Bancorp (Nasdaq: FITB) announced today that Eric S. Smith
has been named its market president in Chicago. He will report to Robert
A. Sullivan, regional president of Fifth Third Bank (Chicago).
In addition to teaming with Sullivan on the overall leadership of
activities for all business lines in the region, Smith will be
particularly focused on driving the Bank’s growth in credit, treasury
management services, capital markets and corporate advisory solutions.
Smith joins Fifth Third from JPMorgan Chase, where he most recently
served as chief financial officer of Middle Market Banking. That unit
focuses on companies with annual sales between $50 million and $500
million. Prior to assuming that role in 2011, Smith was a managing
director in the Investment Bank, where he served as the head of the
North American Food & Beverage Group. He also was responsible for
advising Fortune 500 consumer product companies on merger and
acquisition transactions as well as debt and equity underwritings.
Smith has more than 25 years of banking experience and began his career
with Merrill Lynch as a financial analyst in Public Finance. He holds a
bachelor’s degree in finance from Howard University and an MBA from
Harvard Business School.
“We are excited to add a leader with Eric’s experience and track record
to Fifth Third,” Sullivan said. “He brings extensive expertise that will
directly add value to existing clients and help us further establish
high-quality relationships. His addition deepens our base of talent and
we are excited about our prospects for growth for the Chicago bank.”
Greg D. Carmichael, president and CEO of Fifth Third Bancorp, said, “We
have been looking for the right leader to complement Bob Sullivan and
broaden our executive bench in Chicago. We have found that individual in
Eric Smith. The timing of this senior management addition is terrific,
as Bob is set to chair the 2017 Metro Chicago United Way Campaign.
Having Eric at his right hand will enable Bob to expand his already
significant community involvement while continuing to fully serve the
needs of customers and employees in the region. Investing in a market
president to work alongside our regional president is another tangible
sign of Fifth Third Bank’s commitment to Chicago.”
“I am thrilled to join the Fifth Third team,” Smith said. “I have always
respected its level of commitment to their clients and to the community.
I look forward to making an immediate contribution and to helping the
Bank —and its customers – grow and prosper.”
Smith is active in a wide variety of civic activities in Chicago,
serving as a Board member for the Lyric Opera of Chicago and the Chicago
Urban League. He and his wife, Kimberly Taylor-Smith, also co-chaired
the 2015 Children’s Research Fund Campaign and Children’s Ball for the
Ann & Robert H. Lurie Children’s Hospital of Chicago, where they both
serve as Board members. Smith is a member of the Economic Club of
Chicago and the Executives’ Club of Chicago. He and his family reside in
Evanston.
About Fifth Third:
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. The Company has $144 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 2,541 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 and 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 June 30, 2016, had $305
billion in assets under care, of which it managed $26 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
or
Andrew Hayes (Chicago Media)
312-704-4179