Robert Shaffer Named Fifth Third Bancorp's Chief Human Resources Officer

Cincinnati - Fifth Third Bancorp (Nasdaq: FITB) announced today that Robert Shaffer has been named its chief human resources officer. Shaffer previously served as chief auditor, a post he had held since August 2007. He also had been promoted to executive vice president in February 2010. Shaffer will report to Chief Administrative Officer Teresa Tanner.

Shaffer joined Fifth Third in 2002 as group audit manager. He was promoted to director of financial audit in 2003 before becoming chief auditor. 

"Bob Shaffer will be a terrific head of human resources,” said President and Chief Executive Officer Greg Carmichael. “In addition to his broad base of knowledge regarding every unit and function within the Bank, Bob has demonstrated exemplary leadership with respect to talent selection and development as well as employee engagement. This demonstrates the depth of talent and bench strength within Fifth Third.” 

Tanner added, “For many years, Bob has been among our most admired leaders. The Audit team has exported great talent throughout our organization in functions like Information Technology, Business Controls, Enterprise Risk Management and more. Bob’s commitment to employee development is reflected in the thoughtful approach he has taken with career coaching, mentorship and individual development plans. He leads by example every day.”

Prior to joining Fifth Third Bank, Shaffer served as a partner in Arthur Andersen’s Business Advisory Practice in Chicago, where he specialized in the audit of public companies in the financial services industry. He began his career with KPMG’s Assurance Service Practice in Pittsburgh in 1991.

Shaffer has extensive civic involvement, having previously served as the 2011 chair of Fifth Third’s United Way corporate campaign. He currently serves on the United Way of Greater Cincinnati’s Impact Cabinet, and received that organization’s Community Service Award for Developing Resources in 2012.

“I am thrilled to move into this role at Fifth Third,” Shaffer said. “I have always considered people management and talent management priorities. Effective human resources management is a personal passion. I look forward to helping the entire organization maximize the value that is gained by building strong and highly engaged teams.”

An interim head of Audit has been named while a search is underway for Shaffer’s replacement as chief auditor.

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.”