Fifth Third Bank (FITB) in Cincinnati will soon lose a top executive.
Bruce Lee will step down as its chief credit officer, for personal reasons, at the end of the year, the $117 billion-asset company said Monday.
Greg Schroeck, senior vice president of structured finance, will temporarily succeed him while Fifth Third searches for Lee’s permanent replacement.
Lee, who previously headed Fifth Third’s special asset group and served as head of its commercial division, has held a series of executive posts over a dozen years with Fifth Third. He joined Fifth Third in 2001 through its purchase of Toledo, Ohio-based Capital Bank, where Lee served as senior loan officer.
“Bruce has done a great job as chief credit officer and in managing the special assets group during one of the most challenging credit environments in history,” Kevin Kabat, Fifth Third’s chief executive, said in a news release. “While we are disappointed by his decision, we fully support Bruce’s desire to spend time with his family as he considers other personal and professional endeavors.”
Shares of Fifth Third fell 1.2%, to $14.71, in trading Monday morning.