The New York State Department of Financial Services closed Signature Bank over the weekend and appointed the FDIC as receiver. The FDIC transferred all deposits and assets to a bridge bank that began operations on Monday.
Fifth Third Bancorp appointed Jamie Leonard to the role of CFO, effective immediately. The company also appointed Bob Shaffer chief risk officer to succeed Leonard, and Peg Jula chief human resources officer, succeeding Shaffer.
Fifth Third Bancorp has received all necessary regulatory approvals for completion of its acquisition of MB Financial as stipulated in the companies’ merger agreement from May 20, 2018.
Eric S. Smith, Chicago regional president of Fifth Third Bank, will transition to chief operating officer of the region once the bank’s pending merger with MB Financial closes.
Susan B. Zaunbrecher has joined Fifth Third Bank as chief legal officer and corporate secretary. Zaunbrecher replaces Jelena McWilliams who was tapped to lead the FDIC.
Fifth Third and MB Financial signed a definitive merger agreement under which MB will merge with Fifth Third in a transaction valued at approximately $4.7 billion.
Fifth Third Bancorp appointed Executive Vice President and CIO Jude Schramm to head of the information technology organization. He will report to Chairman, President and CEO Greg D. Carmichael.