Contact: Barbara Grimsley
Fifth Third Bank Announces New Energy Banking Team
Cincinnati – Fifth Third Bank (Nasdaq: FITB) announced today that Richard Butler, Terry Rainosek and Alan Busby have joined the Bank and will lead its national Energy Banking operation. This team will provide banking services to companies in the petroleum and natural gas production, processing and distribution industries.
"The energy sector is a rapidly growing industry. Fifth Third's new Energy Banking team demonstrates our commitment to providing dedicated banking services to this evolving sector," said Greg Kosch, executive vice president and head of Commercial Banking for Fifth Third Bank. "The oil and natural gas sector represents a tremendous growth opportunity. Richard and Alan's wealth of commercial banking and credit experience combined with Terry's technical background in petroleum engineering will help us develop strong relationships and customized services for companies in this space."
Butler joins Fifth Third with more than 24 years of commercial banking and financial management experience and will serve as senior vice president and head of the Energy Banking team. Prior to joining Fifth Third, he worked more than 21 years for a British bank for its Corporate Markets in North America, where he most recently served as senior vice president of its energy lending sector.
With more than 31 years of experience in petroleum engineering, Rainosek joins Fifth Third as senior vice president and engineering manager. He previously spent more than 14 years with a British bank, where he most recently served as head of Natural Resources in North America. Prior to this role, Rainosek was a petroleum engineer for two United States-based banks and Amoco Production Company. He is a member of the Society of Petroleum Engineers and the Independent Petroleum Association of America.
Busby will serve as senior vice president and senior credit officer and brings more than 28 years of experience in commercial lending and risk management. Most recently he served as head of credit for a British bank, responsible for managing portfolios of oil and gas companies and financial institutions.
Also joining Fifth Third on the Energy Banking team are Byron Cooley, senior commercial large corporate relationship manager, Laura Gonnell, senior engineering technician, and Megan Larson and Helen Wiggins as credit portfolio managers.
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 1,321 full-service Banking Centers, including 105 Bank Mart® locations open seven days a week inside select grocery stores and 2,403 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. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2012, had $300 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." Lending is subject to credit review and approval. Fifth Third Bank. Member FDIC.