Fifth Third shuffles government lineup after CFO joins BMO

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Fifth Third Bancorp in Cincinnati has introduced a slate of government adjustments after its chief monetary officer departed for a rival.

The corporate’s chief danger officer, Jamie Leonard, has been elevated to CFO. His predecessor, Tayfun Tuzun, will turn out to be chief monetary officer at BMO Monetary Group in Toronto.

Fifth Third Chairman and CEO Greg Carmichael praised Tuzun as having carried out his job with “grace, talent and knowledge” and stated Leonard can step proper in in Tuzun’s place.

“Jamie has performed a important function in our danger administration and treasury actions, and we’re lucky to have somebody along with his expertise and abilities who can seamlessly step into the chief monetary officer function at Fifth Third,” Carmichael stated in a press launch Monday. “Jamie’s huge information of our monetary efficiency is unequalled, as is his astute capacity to determine and handle danger.”

Leonard has been with Fifth Third since 1999. Earlier than he turned chief danger officer, he additionally labored as the corporate’s treasurer and as director of enterprise planning and evaluation.

Bob Shaffer will substitute Leonard as Fifth Third’s chief danger officer. Shaffer had been its chief human sources officer since 2017, and earlier than that he was chief auditor for nearly a decade.

Peg Jula will succeed Shaffer as chief human sources officer. Jula has been with Fifth Third since 1991 and has held quite a few human sources roles on the $202 billion-asset firm, together with expertise acquisition and studying and growth.

Final month Fifth Third named Tim Spence president, probably lining him up because the successor to Carmichael as CEO.

In the meantime, Tuzun, who turned monetary chief at Fifth Third in 2013, will be part of BMO as deputy chief monetary officer throughout a transitional part and can turn out to be the CFO on Jan. 1, BMO stated in its personal announcement Monday. Tuzun can even be part of the financial institution’s government committee.

BMO’s present monetary chief, Tom Flynn, will turn out to be vice chair and concentrate on supporting company purchasers and enterprise strategic initiatives.

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