Fifth Third Hires Citigroup Exec as Chief Marketing Officer

Fifth Third Bancorp (FITB) has hired Citigroup (NYSE: C) executive Maria Veltre as its new chief marketing officer.

Veltre is now also a senior vice president at Fifth Third, the Cincinnati company said Tuesday. She succeeds Larry Magnesen, who was named director of corporate communications, overseeing public relations, employee communications, reputation-risk management and social media.

Veltre joined the $121 billion-asset bank from Citigroup, where she had been chief marketing officer for small business since 2009. She began her career in banking with Chase Manhattan Bank in 1986, Fifth Third said.

She will report to Todd Clossin, Fifth Third's chief administrative officer, in her new role.

Veltre's "extensive experience and breadth of knowledge will build on our success and help drive further progress in developing our brand," Clossin said in a news release. "She has a proven track record in creating strategies to target untapped opportunities while leading high-performance teams."