CINCINNATI – Fifth Third Bancorp (Nasdaq: FITB) has announced it is expanding its commercial banking capabilities to serve Texas-based middle-market companies by hiring Scott Silvas as market president.
Based in Houston, Silvas will be responsible for building teams in Houston and Dallas to support the needs of middle-market companies across the state. Silvas brings more than 15 years of banking experience to the role and will report to Tom Heiks, executive vice president and head of middle market banking for Fifth Third.
“Scott knows the market well and understands client needs unique to the area,” said Heiks. “He also has experience in recruiting top talent within the market. This positions him well to lead Fifth Third’s efforts in developing a strong commercial bank in Texas and we’re excited to have local leadership on board.”
This expands Fifth Third’s capabilities in Texas. The Bank currently has nearly 30 employees in Dallas and Houston who provide corporate banking services to clients nationwide. The position also builds upon Fifth Third’s well-established commercial vertical and market expansion strategy. The Bank most recently announced Joe Yurosek as its market president for California.
“Establishing a market president in Texas is a continuation of Fifth Third’s commitment to expand its broad range of commercial solutions in high-potential markets,” said Lars Anderson, executive vice president and chief operating officer of Fifth Third Bank. “We’ve seen success in California and believe we can deliver value in Texas, a market I am very familiar with.”
Silvas joins Fifth Third from JP Morgan Chase, where he served as executive director and managing market executive for the Houston Middle Market Group since 2014. Prior to that, he held various roles with JP Morgan since 2010. Silvas began his career in 2003 with Bank of Texas, part of BOK Financial.
He holds a bachelor’s degree from University of Texas at Austin and earned his MBA from Rice University. He is currently a member of the board and finance committee for Genesys Works.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, an Ohio-chartered bank. As of December 31, 2018, Fifth Third had $146 billion in assets and operated 1,121 full-service Banking Centers and 2,419 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 52,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2018, had $356 billion in assets under care, of which it managed $37 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank. Member FDIC.