Recognition honors businesses that influence,
drive positive change in business community, society
Fifth Third Bank has been recognized by the Ethisphere®
Institute, a global leader in defining and advancing the standards
of ethical business practices, as one of the 2019 World’s Most
Ethical Companies®.
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the full release here:
https://www.businesswire.com/news/home/20190226006061/en/
Frank Forrest, executive vice president,
chief risk officer, Fifth Third Bank (Photo: Business Wire)
“We are extremely honored that Fifth Third has been named one of
the World’s Most Ethical Companies by Ethisphere. This recognition
is a testament to our commitment to our employees, customers and
communities as well as our delivering consistent financial
results,” said Greg Carmichael, president, chairman and CEO of
Fifth Third Bank. “It also speaks to our strong governance, risk
awareness and risk management, as well as our enhanced focus on
culture and integrity.”
Fifth Third’s core values include working as one bank, taking
accountability, being respectful and inclusive, and acting with
integrity. These values serve as the foundation of the company’s
commitment to responsible banking. In the past year, the Bank
continued to make strides in strengthening its ethics and
compliance programs, its ongoing investment and involvement in the
communities within its footprint, and focus on environmental
sustainability.
In 2019, 128 honorees were recognized spanning 21 countries and
50 industries. The 13th class of honorees profoundly illustrates
how companies continue to be a driving force for improving
communities, building capable and empowered workforces, and
fostering corporate cultures focused on ethics and a strong sense
of purpose. Fifth Third is one of five banks to be named among the
world’s most ethical companies and one of only three in the
U.S.
“Our commitment to operating with the highest level of ethical
standards is directly related to our vision to be the one bank
people most value and trust,” said Frank Forrest, chief risk
officer at Fifth Third. “Integrity is at the heart of our business.
Our customers, employees and business partners expect us to do the
right thing, and every day we strive to deliver on that
expectation.”
“Today, employees, investors and stakeholders are putting their
greatest trust in companies to take leadership on societal issues.
Companies that take the long view with a purpose-based strategy are
proven to not only outperform, but last,” said Timothy Erblich,
Ethisphere’s chief executive officer. “I congratulate everyone at
Fifth Third Bank for earning this recognition.”
Ethics & Performance
Ethisphere’s annual practice of tracking how the stock prices of
publicly traded honorees compare to the Large Cap Index found that
the 2019 World’s Most Ethical Companies outperformed the large cap
sector over five years by 14.4 percent and over three years by 10.5
percent.
Methodology & Scoring
The World's Most Ethical Companies assessment is based upon the
Ethisphere Institute’s Ethics Quotient® framework, which offers a
quantitative way to assess a company’s performance in an objective,
consistent and standardized manner. The information collected
provides a comprehensive sampling of definitive criteria of core
competencies rather than all aspects of corporate governance, risk,
sustainability, compliance and ethics.
Scores are generated and weighted in five key categories: ethics
and compliance program (35 percent), culture of ethics (20
percent), corporate citizenship and responsibility (20 percent),
governance (15 percent) and leadership and reputation (10 percent).
All companies that participate in the assessment process receive
their scores, providing them with valuable insights into how they
stack up against leading organizations.
Honorees
The full list of the 2019 World's Most Ethical Companies can be
found at worldsmostethicalcompanies.com/honorees.
Best practices and insights from the 2019 honorees will be
released in a report and webcast in March and April of this year.
Sign up to receive the report.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio and the indirect parent company
of Fifth Third Bank, an Ohio-chartered bank. As of December 31,
2018, Fifth Third had $146 billion in assets and operated 1,121
full-service Banking Centers and 2,419 ATMs with Fifth Third
branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida,
Tennessee, West Virginia, Georgia and North Carolina. In total,
Fifth Third provides its customers with access to approximately
52,000 fee-free ATMs across the United States. Fifth Third operates
four main businesses: Commercial Banking, Branch Banking, Consumer
Lending and Wealth & Asset Management. Fifth Third is among the
largest money managers in the Midwest and, as of December 31, 2018,
had $356 billion in assets under care, of which it managed $37
billion for individuals, corporations and not-for-profit
organizations through its Trust and Registered Investment Advisory
businesses. 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. Deposit and Credit products are offered by
Fifth Third Bank. Member FDIC.
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and
advancing the standards of ethical business practices that fuel
corporate character, marketplace trust and business success.
Ethisphere has deep expertise in measuring and defining core ethics
standards using data-driven insights that help companies enhance
corporate character and measure and improve culture. Ethisphere
honors superior achievement through its World’s Most Ethical
Companies recognition program and provides a community of industry
experts with the Business Ethics Leadership Alliance. More
information about Ethisphere can be found at ethisphere.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190226006061/en/
Media ContactsFifth Third Bank Media ContactDanielle
Jones513-534-0162danielle.jones@53.com
Ethisphere Media ContactClea
Nabozny480-397-2658clea.nabozny@ethisphere.com
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