Fifth Third Announces Indiana Reorganization

Posted: Updated:

Fifth Third Bancorp (Nasdaq: FITB) has announced plans to combine its central and southern Indiana affiliates. The move comes after the chief executive officers of both regions announced their retirements. Fifth Third Executive Vice President Steven Alonso will oversee the combined operation.

March 26, 2014

News Release

Indianapolis, Ind. -- Nancy Huber, president and CEO of Fifth Third Bank (Central Indiana) today announced her retirement, effective May 15, 2014.

Huber has 12 years of experience in the financial services industry. She was named president and CEO of Fifth Third Bank (Central Indiana) in July 2009 after serving as market president and as Retail Banking head of Fifth Third Bank (Northeastern Ohio). Huber spent more than 20 years in retail merchandising, management and operations, and prior to joining Fifth Third she was divisional vice president for Parisian Department Stores, a division of Saks, Inc.

"Nancy brought a unique perspective to Fifth Third with her background in retail merchandising and has made a significant impact in helping us best serve our customers and communities," said Greg Carmichael, president and chief operating officer for Fifth Third Bancorp. "We are grateful to Nancy for her years of service and wish her all the best in retirement."

"I have lived many places during my career, however, I have never experienced a more friendly, open and collaborative community than in Indiana," said Huber. "My time in Central Indiana has been incredibly impactful for me both personally and professionally. As I begin retirement life, I am looking forward to spending more time with my children and grandchildren. I will, however, miss the day-to-day interaction of my colleagues and the wonderful friends I have made here in Indiana."

With Huber's retirement, and the retirement of Fifth Third's Southern Indiana President & CEO, John Daniel, the Bank will combine its Central and Southern Indiana affiliates to create Fifth Third Bank (Indiana). Steven Alonso, who previously served as executive vice president and head of Fifth Third's Consumer Bank, will serve as regional president, overseeing the new Indiana affiliate.

"Steve's experience as head of our Consumer Bank will be invaluable as he works more directly with the customers and communities we serve throughout Indiana," said Carmichael. "As we constantly look at ways to better run our business, this new structure allows us to recognize the regional power of our Indiana affiliates, with Steve at the lead, by leveraging the talent and opportunities within the Indianapolis and Evansville markets."

Alonso joined Fifth Third Bank in November 2008, and prior to his role as head of the Consumer Bank, he served as executive vice president and head of Mortgage and Consumer Lending. He also has been responsible for Business Banking for the Bancorp.

About Fifth Third Bank

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $130 billion in assets and operates 17 affiliates with 1,320 full-service Banking Centers, including 104 Bank Mart locations, most open seven days a week, inside select grocery stores and 2,586 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 25% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2013, had $302 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. Member FDIC.

Source: Fifth Third Bancorp