Fifth Third Bank announced Thursday that Chief Risk Officer Mary Tuuk will be moving into a new role as president of the bank's Western Michigan region.
In a news release, Fifth Third Bancorp President and Chief Executive Officer Kevin Kabat said he was making the change because Tuuk had expressed a "deep desire" to run a business unit of her own.
"Mary Tuuk has played a paramount role in guiding our company through the credit and risk challenges experienced during the crisis, and I want to thank her and her team for the critical contributions they have made to position our company with a strong risk framework and culture," Kabat said.
"I believe taking on this leadership position in one of our largest markets will be a significant benefit to Fifth Third," he added
Tuuk was promoted to chief risk officer in June 2007 after serving in a variety of roles at the Cincinnati-based company. She was a senior vice president at Old Kent Financial Corp. until Fifth Third purchased it in 2001. Tuuk has appeared in American Banker's annual Most Powerful Women in Banking
The $115 billion-asset Fifth Third said that Tuuk will be transitioning into the new role between now and the end of the year. Paul Reynolds, Fifth Third's chief administrative officer, will replace Tuuk as chief risk officer. He will continue to oversee the company’s legal, fair lending and community reinvestment, merger-and-acquisition integration and government affairs functions.
In another change, the company said that Executive Vice President Bruce Lee will become chief credit officer and will assume responsibility for commercial and consumer credit, which were formerly part of enterprise risk management. He will retain oversight of the special assets group.
