Fifth Third Bancorp announced the appointment of Jamie Leonard as Chief Financial Officer. The company also announced the appointment of Bob Shaffer as Chief Risk Officer, to succeed Leonard, and Peg Jula as Chief Human Resources Officer, succeeding Shaffer.
“Jamie has played a critical role in our risk management and treasury activities, and we are fortunate to have someone with his experience and skills who can seamlessly step into the chief financial officer role at Fifth Third,” said Greg D. Carmichael, Fifth Third’s Chairman and Chief Executive Officer. “Jamie’s vast knowledge of our financial performance is unrivaled, as is his astute ability to identify and manage risk. These attributes will continue to serve our shareholders, customers, employees and communities extremely well.”
Leonard, who joined Fifth Third in 1999, most recently served as Chief Risk Officer and has had led bank-wide initiatives for managing risk and sustaining a strong risk culture. He has had oversight of all critical risk functions and responsibility for the bank’s governance and strategy for risk management, including relationships with key regulatory agencies. Leonard previously served as Fifth Third’s Treasurer, overseeing the bank’s investment portfolio, funding and liquidity, capital management and investor relations. Prior to that, he was Director of Business Planning and Analysis, and led the finance teams supporting numerous lines of business. Leonard will continue to report to Carmichael.
Leonard replaces Tayfun Tuzun, who will be assuming the role of Chief Financial Officer at the BMO Financial Group, a leading international bank.
“Tayfun, who has led finance with grace, skill and wisdom, is leaving the Bank to continue his own professional growth,” said Carmichael. “We appreciate his clear leadership, including strengthening our balance sheet to perform well even during challenging economic environments. We wish him the best in his new endeavors as he leaves the Fifth Third family.”
“I have greatly enjoyed the opportunity to contribute to the tremendous success of Fifth Third and its employees,” said Tuzun. “I’m confident that the strength of Fifth Third’s strategy and leadership team will see many further successes in the future.”
Succeeding Leonard as Chief Risk Officer, Bob Shaffer brings deep experience to the role, from his leadership as the bank’s chief human resources officer since 2017 and nearly a decade as the Bank’s chief auditor, beginning in 2007. Shaffer’s attention to detail, skill at tackling tough issues and bold, collaborative leadership have distinguished him during his tenure at Fifth Third. Before joining the Bank in 2002, Shaffer was a partner in Andersen’s Business Advisory Practice in Chicago, where he specialized in the audit of public companies in the financial services industry. He also served as head of the United States Central Region’s Operational Risk Management Consulting Practice. Shaffer will continue to report to Carmichael.
Richard Stein, who continues as Chief Credit Officer, will now report directly to Carmichael. Stein possesses over 20 years of experience in the banking industry and has served in this critical role for Fifth Third since early 2018.
Peg Jula succeeds Shaffer as Chief Human Resources Officer, reporting to Carmichael. Jula joined Fifth Third in 1991 and has long been a valued leader of the Bank’s Human Capital team. Her passion, commitment, depth and breadth of human capital expertise is exemplary. Jula has held numerous HR leadership roles, including talent acquisition, learning and development, and HR operations and employee services. Her career at Fifth Third has been characterized by her tireless efforts to recruit, retain and advance employees to ensure the present and future success of the Bank.