WesBanco to Name Fifth Third Veteran Its Next CEO

WesBanco (WSBC) in Wheeling, W.Va., has hired a Fifth Third (FITB) executive to be its chief operating officer, and plans to promote him to chief executive next year.

Todd Clossin will become COO of the $6.1 billion-asset company and president of its banking unit on Nov. 4, the company announced Thursday. Clossin will succeed CEO Paul Limbert when Limbert retires next year.

Clossin was most recently Fifth Third's chief administrative officer and had previously served as president and CEO of several of its regions. He worked for KeyCorp (KEY) from 1987 through 2001.

Limbert, 66, joined WesBanco in 1977, and has been president and CEO since 2001. He will remain on the company's board of directors and executive committee following his retirement.

"I look forward to working with Todd during the transitional time prior to my retirement," Limbert said in the news release. Clossin "has an excellent background managing banks located in various regions of the country as a president and CEO and will bring that experience and knowledge to WesBanco."

Clossin will enter a three-year employment agreement with WesBanco when he succeeds Limbert on May 1, 2014, the company said.

WesBanco bought Fidelity Bancorp in Pittsburgh last year.