Fifth Third Bancorp (Nasdaq: FITB) announced recently that Eric S. Smith has been named its market president in Chicago. He will report to Robert A. Sullivan, regional president of Fifth Third Bank (Chicago).
In addition to teaming with Sullivan on the overall leadership of activities for all business lines in the region, Smith will be particularly focused on driving the Bank’s growth in credit, treasury management services, capital markets and corporate advisory solutions.
Smith joins Fifth Third from JPMorgan Chase, where he most recently served as chief financial officer of Middle Market Banking. That unit focuses on companies with annual sales between $50 million and $500 million. Prior to assuming that role in 2011, Smith was a managing director in the Investment Bank, where he served as the head of the North American Food & Beverage Group. He also was responsible for advising Fortune 500 consumer product companies on merger and acquisition transactions, as well as debt and equity underwritings.
Smith has more than 25 years of banking experience and began his career with Merrill Lynch as a financial analyst in Public Finance. He holds a bachelor’s degree in finance from Howard University and an MBA from Harvard Business School.
“We are excited to add a leader with Eric’s experience and track record to Fifth Third,” Sullivan said. “He brings extensive expertise that will directly add value to existing clients and help us further establish high-quality relationships. His addition deepens our base of talent and we are excited about our prospects for growth for the Chicago bank.”
Greg D. Carmichael, president and CEO of Fifth Third Bancorp, said, “We have been looking for the right leader to complement Bob Sullivan and broaden our executive bench in Chicago. We have found that individual in Eric Smith. The timing of this senior management addition is terrific, as Bob is set to chair the 2017 Metro Chicago United Way Campaign. Having Eric at his right hand will enable Bob to expand his already significant community involvement while continuing to fully serve the needs of customers and employees in the region. Investing in a market president to work alongside our regional president is another tangible sign of Fifth Third Bank’s commitment to Chicago.”
“I am thrilled to join the Fifth Third team,” Smith said. “I have always respected its level of commitment to their clients and to the community. I look forward to making an immediate contribution and to helping the Bank —and its customers – grow and prosper.”
Smith is active in a wide variety of civic activities in Chicago, serving as a Board member for the Lyric Opera of Chicago and the Chicago Urban League. He and his wife, Kimberly Taylor-Smith, also co-chaired the 2015 Children’s Research Fund Campaign and Children’s Ball for the Ann & Robert H. Lurie Children’s Hospital of Chicago, where they both serve as Board members. Smith is a member of the Economic Club of Chicago and the Executives’ Club of Chicago. He and his family reside in Evanston.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $144 billion in assets and operates 1,191 full-service Banking Centers, including 94 Bank Mart® locations, most open seven days a week, inside select grocery stores and 2,541 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 and Asset Management. Fifth Third also has an 18.3% interest in Vanitv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2016, had $305 billion in assets under care, of which it managed $26 billion for individuals, corporations and not-for-profit organizations. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858.