Fifth Third Announces Chicago Executive Moves

Fifth Third Bancorp (FITB) on Monday announced that Eric S. Smith, its Chicago regional president, will transition to chief operating officer of the region once the pending merger with MB Financial, Inc., closes.

Mr. Smith will report directly to Mitch Feiger, who serves as president and chief executive of MB Financial and will become CEO of Fifth Third Bank in Chicago after the closing. The merger is expected to close in the first quarter of 2019, subject to regulatory approvals and other customary closing conditions, Fifth Third said.

"Eric has led our Chicago region through a period of growth and transition," Greg D. Carmichael, chairman, president and CEO of Fifth Third Bancorp, said in a statement. "His work in Chicago over the past two years has helped position the bank for the opportunity we are pursuing with MB.

"Since the planned merger was announced in May, Eric and his leadership team have taken on significant additional responsibilities to enable a smooth integration, while continuing their steady focus on taking care of our customers and our communities," Mr. Carmichael added. "I am looking forward to his continued success in his new role."

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(END) Dow Jones Newswires

December 10, 2018 18:11 ET (23:11 GMT)

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