Contact: Barbara Grimsley - (513) 534-6791
Fifth Third Bank Announces Changes in Management Roles
Cincinnati - Fifth Third Bank today announced changes in the management roles and responsibilities of two executives in its Private Bank. Effective immediately, John Augustine will transition from his role as chief investment strategist to assume the new role of chief market strategist. In this role, John will focus on forward-thinking investment strategies and financial advice for all divisions of the Bank. Jeff Korzenik, current director of regional portfolio management, will be appointed chief investment strategist. In this role, Jeff will manage the overarching strategy of Fifth Third's Investment Management Group.
"These changes enhance our leadership capabilities in investment advising and our ability to provide clients with strategic financial insights and analysis," says Phil McHugh, executive vice president and head of Fifth Third Private Bank. "These two talented individuals bring expertise in understanding the complexities of changing markets and today's economy to guide the Bank toward a strong long-term investment strategy. They also provide significant experience to assist clients in making the most appropriate investment choices to meet their financial goals."
John has worked for Fifth Third Bank since 1998, and he has been practicing portfolio management for more than 20 years. He is a Chartered Financial Analyst and a graduate of the Midwest Banker's Association Trust School. He serves as a part-time business professor in the graduate school at the University of Dayton and is a member of the University's Flyer Investment Advisory Board. John earned his bachelor's degree from The Ohio State University.
With 25 years of experience in investment advising, Jeff joined Fifth Third Bank in 2009. He earned his bachelor's degree in economics from Princeton University. Jeff currently serves on the President's Leadership Council of The Field Museum and the board of overseers of the Peabody Essex Museum. Previously, he has served on the boards of several charitable organizations, including the board of trustees of the Essex National Heritage Commission, the board of Symphony by the Sea, the advisory board of the Salem Theatre Company and the board of Salem State University Foundation.
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 1,316 full-service Banking Centers, including 104 Bank Mart® locations open seven days a week inside select grocery stores and 2,425 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 49% interest in Vantiv, LLC, formerly Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2011, had $282 billion in assets under care, of which it managed $24 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® National Global Select Market under the symbol "FITB." Fifth Third Bank. Member FDIC.