Today, Fifth Third (NASDAQ:FITB) announces the appointment of Darren King as executive vice president, head of regional banking, effective immediately. King will report directly to CEO Tim Spence and will join Fifth Third's Enterprise management team, the Bank's senior-most governing body. Prior to joining Fifth Third, King spent 24 years at M&T in several leadership roles.
Fifth Third's regional banking model provides a strategic advantage by aligning regional teams across key businesses to offer clients strategic counsel, innovative banking solutions and execution. As the head of regional banking, King will drive strategy, cultivate talent and pursue growth across the Bank's footprint, with responsibility for the middle market commercial banking and wealth and asset management in each region. Fifth Third's wealth business is one example of how the regional teams deliver "One Bank" solutions through relationship-based strategies. More than 75% of new Private Bank assets come from referrals made by Commercial and Retail Banking business lines.
"Darren is a seasoned leader with a strong track record leading business teams to realize successful financial outcomes, and I'm thrilled to welcome him to Fifth Third," said Tim Spence, chairman, CEO and president of Fifth Third. "His leadership and business development skills will be immediately impactful for our clients and our employees as we continue to grow across our footprint. I look forward to partnering with him to demonstrate both the value and the strength of our regional model."
"I'm thrilled to lead Fifth Third's regional banking organization into a dynamic future," said King. "Throughout my career, I've had the honor of working with complex, rapidly growing businesses; diverse and talented leadership teams; and significant clients. I'm eager to build upon the exceptional foundation the Fifth Third team has established to drive future growth for this remarkable franchise."
King succeeds Kris Garrett who is retiring. Garrett joined Fifth Third in 2017 to lead the Private Bank and ascended to head of Wealth & Asset Management in 2019 and assumed the role of group regional president in 2022. Prior to Fifth Third, Garrett held senior roles at CIBC and JP Morgan. Garrett will remain at Fifth Third through early June 2025 to ensure a smooth transition.
"The rapid growth and exceptional performance of our Wealth and Asset Management offerings are due to Kris's expertise and leadership," Spence continued. "I am deeply grateful for her contributions to our success."
About Fifth Third
Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com.
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Jennifer Hendricks Sullivan (Media Relations)
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Matt Curoe (Investor Relations)
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