Fifth Third picks corporate responsibility exec to lead wealth business

Fifth Third Bank has named yet another leader of the Wealth and Asset Management division.

Brian Lamb, the bank's former chief corporate responsibility and reputation officer, succeeds Mike Michael who was named to the post in May.

Lamb and Michael will work closely together through the end of February to ensure a smooth transition, the Cincinnati-based bank announced Thursday.

Michael will become chairman of the bank's Cincinnati region, effective March 1, the bank said.

As Fifth Third's chief corporate responsibility and reputation officer, Lamb was accountable for the framework of the bank's civic commitments and reputation management. Prior to that, Lamb served as regional president of the bank's North Florida region, based in Tampa. He joined Fifth Third in 2006, according to the announcement.

The bank lauded Lamb's knowledge of commercial, retail and business banking as well as his experience creating what it described as "successful relationships across business lines."

"Brian's leadership will further advance our strategic priorities and move us closer to achieving our vision to be the one bank people most value and trust," Greg Carmichael, Fifth Third president and CEO, said in a statement.

Michael assumed leadership of the Wealth and Asset Management division following the appointment of his predecessor Philip McHugh to a new role commanding Fifth Third's consumer bank. McHugh led the division for seven years, according to his LinkedIn profile.

Fifth Third's wealth and asset management business posted a tepid third quarter, generating $102 million in revenue, up a modest 1% year-over-year, according to the bank's latest earnings release.