Bank Watch

Fact about Fifth Third’s new CEO: He once worked in Charlotte

On Wednesday, Fifth Third Bancorp named Greg Carmichael its new CEO. From 2011 to 2012, Carmichael worked out of Charlotte while serving as CEO for the lender’s North Carolina market.
On Wednesday, Fifth Third Bancorp named Greg Carmichael its new CEO. From 2011 to 2012, Carmichael worked out of Charlotte while serving as CEO for the lender’s North Carolina market.

On Wednesday, Cincinnati-based Fifth Third Bancorp announced a new CEO, whose name is a familiar one among Charlotte’s banking industry.

That’s because, just three years ago, Greg Carmichael worked out of Charlotte while serving as CEO for the lender’s North Carolina market.

On Wednesday, Fifth Third announced that Carmichael will replace CEO Kevin Kabat, who is retiring. Carmichael, who had been president and chief operating officer, will retain the president title.

Carmichael became chief operating officer in 2006. In 2011, while still serving as COO, he was named CEO for North Carolina, overseeing the lender’s operations in the state for roughly a year.

During that time, Carmichael had an office in uptown Charlotte, on the 18th floor of Fifth Third Center at 201 N. Tryon St., Fifth Third spokesman George Dick told me Wednesday. Carmichael’s home was in Cincinnati, but he had a corporate apartment in Charlotte, Dick said.

“He spent quite a bit of his time here,” Dick said. “Depending on the week, he might spend all week here.”

Carmichael held the North Carolina CEO role until September 2012, when current North Carolina CEO and President Thomas Heiks was named his replacement.

That same month, Carmichael was promoted to president of the company.

Fifth Third employs about 400 people in the Charlotte region, where it is the fourth-largest bank by deposits.

Roberts: 704-358-5248;

Twitter: @DeonERoberts

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