Fifth Third Bancorp (FITB) has announced it is expanding its commercial banking capabilities to serve California-based middle-market companies by hiring Joseph Yurosek to serve as market president. He will report directly to Lars Anderson, executive vice president and chief operating officer.
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Yurosek will be responsible for building a team to provide dedicated resources in client coverage, credit, treasury management and capital markets to support the needs of middle-market companies across the state.
“The expansion of talent in California represents a significant opportunity for Fifth Third to support clients and grow our core middle-market business,” said Anderson. “Joe’s knowledge of the California market strengthens our commitment to keep the customer at the center of everything we do. In-state leadership will deepen relationships and enable us to provide services and solutions that help our clients reach their financial goals.”
Yurosek joins Fifth Third from Comerica, where he served as market president for the Orange County region. He also was responsible for corporate middle-market strategy in Orange County, Long Beach and San Diego and co-led sponsor coverage strategy for Southern California. Prior to that, Yurosek was regional middle-market group manager in Los Angeles and Long Beach.
Yurosek has more than 25 years of banking experience. He holds a bachelor’s degree from California Polytechnic State University – San Luis Obispo and earned his MBA from University of Southern California’s Marshall School of Business.
This newly created position builds upon Fifth Third’s well-established commercial vertical and market expansion strategy. Fifth Third is making significant investments in value-added products and services to help clients with their most pressing financial and risk management challenges. This focus supports the Company’s NorthStar strategy, a three-year plan designed to deliver strong consistent returns through economic cycles.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of Sept. 30, 2017, the Company had $142 billion in assets and operated 1,155 full-service Banking Centers and 2,465 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to nearly 55,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third also has an 8.6 percent interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of Sept. 30, 2017, had $348 billion in assets under care, of which it managed $36 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Member FDIC.