CINCINNATI--(BUSINESS WIRE)--Jul. 16, 2012--
Steven Alonso, executive vice president and head of Fifth Third’s
Consumer Bank has announced the hiring of Chad Borton as senior vice
president and head of Retail Banking for the Company, effective today.
Borton comes to Fifth Third from JP Morgan Chase where he held a number
of senior management positions including Consumer Bank CFO, head of the
Retail Distribution Network responsible for expanding Chase’s branch and
ATM network nationally and Retail Market Manager for Chase’s branch
network in several Ohio markets. Most recently he served as head of
Branch Administration where he was responsible for managing more than
1,000 employees in the delivery of branch operational support for 5,500
retail branches. Borton will report directly to Steven Alonso.
“Chad brings a wealth of retail experience and deep leadership expertise
that will have clear benefits throughout the Consumer Bank,” said
Alonso. “He also has great familiarity with Fifth Third’s footprint and
the markets in which we do business.”
Earlier in his career, Borton was an Associate Principal at McKinsey &
Co. and worked at Wachovia in Charlotte.
Borton received his bachelor’s degree in Business Economics and Public
Policy from Indiana University Kelley School of Business and his MBA
from Harvard Business School. He is a former US Army officer.
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. The Company has $117 billion in
assets and operates 15 affiliates with 1,322 full-service Banking
Centers, including 105 Bank Mart® locations open seven days a week
inside select grocery stores and 2,410 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 39% interest in Vantiv
Holding, LLC, formerly Fifth Third Processing Solutions, LLC. Fifth
Third is among the largest money managers in the Midwest and, as of
March 31, 2012, had $296 billion in assets under care, of which it
managed $26 billion for individuals, corporations and not-for-profit
information and press
releases can be viewed at www.53.com.
Fifth Third's common stock is traded on the NASDAQ® National Global
Select Market under the symbol "FITB." Fifth Third Bank. Member FDIC
Source: Fifth Third Bancorp
Fifth Third Bancorp
Debra DeCourcy, APR, 513-534-4153