Commercial Banking Veteran Joins as San Francisco Market Executive
CINCINNATI–(BUSINESS WIRE)–Fifth Third Bancorp (Nasdaq: FITB) announced today that Peter Gruebele has joined Fifth Third as senior vice president and San Francisco market executive. In this role, he will report to Joseph Yurosek, California market president for Fifth Third Bank.
“Peter is embedded in the San Francisco market and is deeply rooted in the community, which makes him a perfect fit to lead Fifth Third’s growth efforts in the Bay Area,” said Yurosek. “We look forward to his leadership contributions as we introduce our strategic advice and full-service corporate banking capabilities to San Francisco’s middle-market companies.”
Bringing more than three decades of executive-level experience in relationship management and commercial banking to his role, Gruebele will be responsible for developing and maintaining relationships with middle-market clients including family-owned businesses and private equity-owned middle-market companies. In addition to helping clients reach their financial goals, he will play an active role on Fifth Third’s leadership team as it continues to build out its banking services in San Francisco over the coming months.
The hire is part of the strategic buildout in the market. Fifth Third recently announced its San Francisco-based Renewable Energy Investment Banking Group. Fifth Third established its first presence in California in 2013 with the opening of an office in Century City for its Technology, Media and Telecom, and Diversified Industries verticals in addition to treasury management and commercial real estate team members. Yurosek joined Fifth Third in December 2017 as California market president.
“San Francisco’s vibrant and highly diverse market makes it compelling to Fifth Third from a talent and business perspective,” added Yurosek. “We’re excited to leverage the market entry model from our recent success in Southern California in the Bay Area, where we believe we can deliver value.”
Gruebele joins Fifth Third from Wells Fargo. He holds a bachelor’s degree from the University of California, Davis, and currently serves on the board of directors for the Mt. Diablo Silverado Council of the Boy Scouts of America, the San Francisco Chamber of Commerce, and the San Francisco office of SPUR, the San Francisco Bay Area Planning and Urban Research Association. He is also on the advisory board for John Muir Health Foundation.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, an Ohio-chartered bank. As of June 30, 2019, Fifth Third had $169 billion in assets and operated 1,207 full-service Banking Centers and 2,551 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 53,000 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 is among the largest money managers in the Midwest and, as of June 30, 2019, had $399 billion in assets under care, of which it managed $46 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. Deposit and Credit products are offered by Fifth Third Bank. Member FDIC.
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Chris Doll (Investor Relations)
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