Market Overview

Fifth Third Release Shows Mgmt to Streamline Reporting Structure

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Fifth Third Bancorp (NASDAQ: FITB) today announced that Michelle Van Dyke, currently regional
president, has been named president of Fifth Third Mortgage Company effective
immediately, replacing Bob Lewis who is retiring Sept. 19.

In her new role, Van Dyke will report directly to Chad Borton, executive vice
president and head of the Consumer Bank.

Van Dyke joined Fifth Third in 2001 through the acquisition of Old Kent Bank,
where her assignments included serving as the senior vice president and
manager of the Central U.S. Mortgage region and president of the Illinois
bank. Since joining Fifth Third, she has served as the regional president for
the Michigan affiliates and has also had oversight responsibility for the St.
Louis, Indiana and Ohio affiliates. Among other awards, Van Dyke was named one
of American Banker's “25 Most Powerful Women in Banking” in 2007, 2012 and
2013.

Greg D. Carmichael, president and chief operating officer of Fifth Third
Bancorp said, “Michelle is a terrific choice and uniquely well-suited to lead
our mortgage line of business. She has extensive background in the mortgage
business as well as complete familiarity with our affiliate operating
structure. I am confident in her ability to drive very strong performance in
this important line of business.”

Van Dyke said, “I am very pleased with the new role, which will allow me to
focus 100 percent of my attention on a business that for me is a true
passion.”

With this change, Fifth Third also will streamline its reporting structure.
All affiliate presidents now will report directly to Carmichael. In
consideration of the new organization structure, regional president Karen Dee
has elected to take this opportunity to retire and pursue other interests.

Carmichael said, “We have significant bench strength at Fifth Third among our
leadership team, which gives us confidence to make changes in our management
line-up that will produce successful business results in the marketplace.”

Posted-In: News Management Press Releases

 

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