Fifth Third Appoints Leonard CFO

Fifth Third Bancorp appointed Jamie Leonard to the role of CFO, effective immediately. The company also appointed Bob Shaffer chief risk officer to succeed Leonard, and Peg Jula 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,” Greg D. Carmichael, chairman and CEO of Fifth Third, said. “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 led bank-wide initiatives for managing risk and sustaining a 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 multiple lines of business. Leonard will continue to report to Carmichael.

Leonard replaced Tayfun Tuzun, who will be assuming the role of CFO at BMO Financial Group.

“Tayfun, who has led finance with grace, skill and wisdom, is leaving the bank to continue his own professional growth,” Carmichael said. “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,” Tuzun said. “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, Shaffer previously served as Fifth Third’s chief human resources officer, beginning in 2017. Prior to that, he served nearly a decade as the bank’s chief auditor, beginning in 2007. 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 will continue as chief credit officer, will now report directly to Carmichael. Stein possesses more than 20 years of experience in the banking industry and has served in this role for Fifth Third since early 2018.

Jula succeeded Shaffer as chief human resources officer, reporting to Carmichael. Jula joined Fifth Third in 1991 and has held multiple HR leadership roles, including talent acquisition, learning and development, and HR operations and employee services.

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