Fifth Third Bancorp Announces Technology, Media & Telecommunications Vertical
July 22 2016 - 1:45PM
Business Wire
Fifth Third Bancorp (NASDAQ: FITB) has announced the formation
of a dedicated group to serve the financial services needs of the
technology, media and telecommunications industry. The team is led
jointly by Pete Foley and Kevin Khanna, both of whom bring
extensive expertise and knowledge in the industry.
“The creation of this vertical business unit allows Fifth Third
to dedicate a team of resources to provide customized solutions to
one of the fastest growing industry sectors in the United States,”
said Kevin P. Lavender, executive vice president and head of
corporate banking for Fifth Third Bancorp. “We are committed to
demonstrating a deep understanding of our clients’ needs to help
them reach their business goals.”
The Technology, Media and Telecommunications (TMT) vertical is
one of several such groups housed in Fifth Third’s Commercial
Banking practice. It will provide dedicated resources in client
coverage, credit, treasury management and capital markets to
support mid- and large- corporate customer needs across the U.S.
footprint.
“With a consolidated $6.2 billion in commitments, Fifth Third
has already made significant investments across the TMT industry,”
said Lavender. “Pete and Kevin will refine our strategy and focus
our efforts on areas that offer opportunities for long-term
growth.”
Foley has more than 25 years of experience in financing and
investing in the TMT sectors. He is a graduate of Boston College.
Khanna brings more than 15 years of dedicated TMT industry
investment banking and financing expertise. Khanna received his
bachelor’s degree from the University of Rochester and earned a
master’s degree from Columbia Business School.
For more information, visit www.53.com/powering.
About Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. The Company has $142 billion in
assets and operates 1,241 full-service Banking Centers, including
95 Bank Mart® locations, most open seven days a week, inside select
grocery stores and over 2,500 ATMs in Ohio, Kentucky, Indiana,
Michigan, Illinois, Florida, Tennessee, West Virginia,
Pennsylvania, Georgia and North Carolina. Fifth Third operates four
main businesses: Commercial Banking, Branch Banking, Consumer
Lending, and Investment Advisors. Fifth Third also has an 18.3%
interest in Vantiv Holding, LLC. Fifth Third is among the largest
money managers in the Midwest and, as of March 31, 2016, had $303
billion in assets under care, of which it managed $26 billion for
individuals, corporations and not-for-profit organizations.
Investor information and press releases can be viewed at
www.53.com. Fifth Third’s common stock is traded on the Nasdaq®
Global Select Market under the symbol “FITB.” Fifth Third Bank was
established in 1858. Member FDIC.
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Fifth Third BancorpSean Parker513-534-6791
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