NEW YORK (AP) — Fifth Third Bancorp named a new head of retail banking Monday.
Chad Barton, a senior retail banker at JPMorgan Chase & Co., will take responsibility immediately, said the regional bank, based in Cincinnati.
At JPMorgan, Barton most recently managed a team that provided operational support to more than 5,000 retail branches, according to a statement from Fifth Third. He had previously been responsible for expanding Chase's branch and ATM network across the country and also served as chief financial officer for Chase's consumer bank, according to the announcement.
Barton will report to Steven Alonso, head of Fifth Third's consumer bank.
Fifth Third has been recovering from the effects of the hard-hit housing market, especially in Florida and Michigan.
In April, Fifth Third reported that net income quadrupled in its first quarter, thanks to a rise in mortgage loans along with an increase in corporate banking and investment advisory revenue.
The bank will next report earnings on Thursday. Analysts expect the bank to earn 35 cents per share, on average, according to the data provider FactSet. That would be unchanged from the same quarter in 2011.
Fifth Third operates in Ohio, Kentucky, Indiana, Illinois, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina, with more than 1,300 banking centers. The Federal Reserve ranks it as the country's 17th-largest bank with $114 billion in assets.