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The asset-management arm of Fifth Third Bancorp (FITB) announced Thursday that it is selling the assets of 16 mutual funds and about $5 billion in money market fund assets in two separate transactions.
April 5 -
The asset management unit for Fifth Third Bancorp has agreed to sell some assets to three of its executives.
October 15 -
The Securities and Exchange Commission has fined Fifth Third Bancorp (FITB) for misclassifying troubled loans during the housing crisis.
December 4 -
The $126 billion-asset company plans to redeem the notes, and pay about $10.3 million in unpaid dividends, on Dec. 30, it announced last week.
December 2
Fifth Third Bancorp (FITB) in Cincinnati has renamed its wealth management unit.
Firth Third Asset Management has become ClearArc, the Cincinnati Business Courier
A Fifth Third spokeswoman could not immediately be reached for further details.
The company said the changes are part of an effort "to provide institutional clients with clear and transparent investment management services to help achieve their long-term investment goals," the Business Journal reported.
Fifth Third Asset Management has been narrowing its offerings to focus on institutional investors and very wealthy clients, sectors where it sees growth potential. The company
ClearArc now manages $6.5 billion and has 41 employees, according to the Business Journal.