Fifth Third Bancorp (FITB) announced Monday that it has hired former JPMorgan Chase (JPM) executive Chad Borton as its new head of retail banking.
Borton was most recently the head of branch administration at JPMorgan Chase, where he was responsible for the operations of 5,500 retail branches. He had previously served as chief financial officer of JPMorgan Chase's consumer bank; head of retail banking in several Ohio markets; and head of retail distribution, where he was responsible for expanding the bank's branch network.
At the $117 billion-asset Fifth Third, Borton will oversee operations at the bank's more than 1,300 retail branches in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. He will report to Steven Alonso, and executive vice president and head of Fifth Third's consumer bank.
"Chad brings a wealth of retail experience and deep leadership expertise that will have clear benefits throughout the consumer bank," Alonso said in a news release. "He also has great familiarity with Fifth Third's footprint and the markets in which we do business."
