Contact: Debra DeCourcy, APR - (513) 534-4153
Fifth Third Selects Chad Borton As Head of Retail Banking
Cincinnati – 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 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