Jelena McWilliams Named Fifth Third's Chief Legal Officer

Cincinnati - Fifth Third Bancorp (Nasdaq: FITB) announced today that Jelena McWilliams will become its chief legal officer and corporate secretary. McWilliams, who will report to President and CEO Greg D. Carmichael, will join the Company Jan. 9. Her responsibilities will include overseeing Legal, Government Affairs and Regulatory Affairs.

McWilliams joins Fifth Third from the public sector, where she has worked since 2007. Since 2012, she has held chief counsel, deputy staff director and senior counsel positions with the U.S. Senate Committee on Banking, Housing and Urban Affairs. There, she has provided legal counsel to senators, engaged in oversight of federal financial regulators and drafted legislation on prudential banking regulation, systemic risk, consumer protection and other regulatory matters.

From 2007 to 2010, McWilliams served as an attorney for the Division of Consumer and Community Affairs at the Federal Reserve Board of Governors where she drafted consumer protection regulations, responded to consumer complaints and conducted consumer testing of mortgage disclosures. She then joined the U.S. Senate Small Business and Entrepreneurship Committee as assistant chief counsel, handling financial services, banking regulation, consumer protection, economic and monetary policy, budget, federal debt and deficit, and small business issues.

"Jelena is a great addition to the executive leadership team at Fifth Third Bank," Carmichael said. "In addition to her extensive experience in regulatory affairs and financial services, Jelena has a strong focus on the customer that was honed in her various roles in government. This focus is a perfect fit for Fifth Third’s strategic direction in 2017 and beyond. Her counsel undoubtedly will move us closer to our ability to achieve our Vision, which is to be the one bank people most value and trust.”

McWilliams practiced law at Morrison & Foerster LLP in Palo Alto, California, and Hogan & Hartson LLP (now Hogan Lovells LLP) in Washington, D.C. In her law practice, McWilliams focused on corporate law, counseling clients on public offerings of debt and equity securities, and representing publicly and privately held companies in mergers and acquisitions, securities offerings, strategic business ventures, venture capital investments, and corporate governance matters.

McWilliams earned bachelor's and law degrees from the University of California at Berkeley. She is a member of the California Bar Association.

“Fifth Third’s strong foundation, clearly articulated strategic plan and deep commitment to improving lives are among the many reasons I am excited to join the Bank at the start of 2017,” McWilliams said. “I look forward to helping build on that legacy.”

About Fifth Third

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of December 31, 2016, the Company had $142 billion in assets and operates 1,191 full-service Banking Centers, and 2,495 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 a 17.9% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2016, had $315 billion in assets under care, of which it managed $31 billion for individuals, corporations and not-for-profit organizations through its Trust and Brokerage businesses. Investor information and press releases can be viewed at Fifth Third’s common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.”