Fifth Third has rearranged certain senior leadership roles to position the company for continued success in executing its key strategic priorities.
The following changes are effective immediately:
Frank Forrest, who has served as executive vice president and chief risk officer since 2014, moves into a new role as special advisor for risk and regulatory matters until December 31, 2020, at which time he will retire from the company. He will continue reporting to Greg Carmichael, Fifth Third chairman, president and CEO.
Jamie Leonard, who has worked at the company for more than 20 years, succeeds Forrest as chief risk officer. Leonard most recently served as executive vice president and treasurer for the past six years. During his tenure as treasurer, he managed capital, liquidity and interest rate risk. Leonard also served on the corporate credit committee. He will report to Carmichael.
“Frank has successfully led our risk management transformation and conversion to a national charter, and we look forward to his continued counsel and contributions as we move through 2020,” said Carmichael. “At the same time, Jamie’s depth of knowledge about our company, our financials, our risk appetite and our strategic priorities, makes him a great fit for this role. His leadership over the past six years as treasurer to deliver strong results with a focus on through-the-cycle outperformance, as well as his leadership throughout the MB Financial integration, highlights the confidence we have in his capabilities in his new role.”
Bryan Preston, formerly chief financial officer for Fifth Third’s consumer and payments businesses, has been promoted to treasurer, succeeding Leonard. Preston served as assistant treasurer from 2015-2017, and has more than two decades of experience in the financial services and capital markets industries. He will report to Tayfun Tuzun, executive vice president and chief financial officer.
Lars Anderson, formerly chief operating officer and head of commercial banking, has been appointed vice chairman of commercial banking strategic growth initiatives. Anderson will focus full-time on developing and implementing strategies, including niche non-bank acquisitions, to further the growth of this business. He will continue reporting to Carmichael.
Kevin Lavender, who has served as executive vice president and head of corporate banking, will expand his responsibilities to lead commercial banking, overseeing Fifth Third’s large corporate commercial verticals, capital markets, specialty lending and treasury management businesses. He will report to Carmichael.
“In this new role, Lars will focus his considerable talent and energy on expansion efforts – what we can do to support our new markets and where we should look to continue our growth. Kevin has expertly led our growth into specialty markets through vertical integration, and we believe his experience and insights will prove invaluable as he assumes this broader role,” Carmichael said. “We look forward to the contributions all of these leaders will make in their new roles as we fully leverage the outstanding talent of our organization.”
