FX.co ★ Fifth Third Announces New Structure To Enhance Commercial Banking, Future Growth

Fifth Third Bancorp (FITB) announced on Thursday a reorganization within its Commercial Bank division aimed at enhancing growth and seizing future opportunities in the sector. The newly formed Corporate & Investment Banking unit will be spearheaded by Kevin Khanna.

This strategic structure is designed to bolster industry-specific verticals, including sectors such as Consumer and Retail, Energy, Financial Institutions, Healthcare, Technology, Media, Telecom, Entertainment, Aerospace, Defense and Transportation, as well as Metal, Materials, and Construction. Additionally, it will include the Investment Banking, Corporate Finance & Advisory, and Financial Sponsors groups.

At present, shares of Fifth Third are trading at $41.70, representing a decrease of 0.66 on the Nasdaq.