Fifth Third Bancorp, one of the largest regional banks in the United States, was founded in 1858 in Cincinnati, Ohio. Today, Fifth Third Bank CEO Tim Spence leads the institution, which recently completed its landmark merger with Comerica to become the 9th largest U.S. bank with approximately $294 billion in assets and over 24,000 employees. Appointed CEO in July 2022 at age 43 — one of the youngest CEOs of a major U.S. bank — Spence brought a unique blend of management consulting expertise and fintech innovation to the role. Under his leadership, Fifth Third has delivered record revenue, best-in-class profitability, and executed the largest bank deal of 2025.

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Tim Spence – Quick Facts

Career Highlights

• Named CEO at age 43 — one of the youngest CEOs of a major U.S. bank when appointed in July 2022
• Completed $12.3 billion Comerica merger (February 2026) — creating the 9th largest U.S. bank with $294 billion in assets
• Digital Banker of the Year — honored by American Banker in 2018 for digital transformation leadership
• Record financial performance — delivered record revenue, best-in-class profitability and efficiency during his tenure
• Brex partnership — struck a commercial card partnership deal with fintech firm Brex in December 2025
• Strategic acquisitions — spearheaded acquisitions of Provide (healthcare fintech) and Dividend Finance (solar lending)
• Momentum Banking — developed the award-winning Fifth Third Momentum Banking product

Fifth Third Bank Competitors

Key competitors of Fifth Third Bancorp include:

• PNC Financial Services — regional banking competitor
• Huntington Bancshares — Midwest-focused bank
• JPMorgan Chase — largest U.S. bank by assets
• U.S. Bancorp — major regional bank competitor
• Regions Financial — Southeast-focused bank
• Citizens Financial Group — super-regional bank
• KeyCorp (KeyBank) — Midwest and Northeast bank
• M&T Bank — East Coast-focused regional bank

Tim Spence Net Worth 2026 – Fifth Third Bank CEO Salary

As of 2026, Tim Spence net worth is estimated at approximately $24.5 million, primarily based on his disclosed Fifth Third Bancorp stock holdings. Spence directly owns approximately 0.049% of the company’s outstanding shares, valued at roughly $13.8 million, with additional compensation from vested equity awards, bonuses, and savings.

As CEO of Fifth Third Bancorp, Tim Spence’s total compensation for fiscal year 2024 was approximately $10.1 million, a sizable increase from the $9.4 million he earned in 2023. The majority of his pay is performance-based, reflecting the bank’s strong financial results.

Fifth Third Bank CEO Compensation Breakdown (2024)

Fifth Third Bank CEO Email & Contact

Below are the official contact details and social media profiles for Fifth Third Bank CEO Tim Spence:

Tim Spence – Career & Education

Tim Spence graduated from Colgate University with dual degrees in Economics and English Literature. Before entering banking, he held management positions in sales, marketing, corporate development, and finance at two early-stage technology firms.

In 2006, Spence joined Oliver Wyman, a global strategy and risk management consulting firm, where he rose to Senior Partner and co-led the firm’s Financial Services practice. His consulting work focused on banking strategy, digital transformation, and risk management.

In 2015, Spence joined Fifth Third Bank as Chief Strategy Officer, bringing his consulting expertise to drive the bank’s digital transformation. He advanced to head the Consumer Banking and Payments division in 2017, and was named President in October 2020. He became CEO on July 5, 2022, succeeding Greg Carmichael, and was elected Chairman of the Board in December 2023.

Tim Spence Career Timeline

Education

The Comerica Merger – Fifth Third Becomes 9th Largest U.S. Bank

In October 2025, Tim Spence announced Fifth Third’s acquisition of Comerica Incorporated in what became the largest bank deal of the year. The all-stock transaction, initially valued at $10.9 billion, closed on February 2, 2026 at a final value of $12.3 billion.

The combined entity now ranks as the 9th largest U.S. bank with approximately $294 billion in assets. Legacy Comerica stockholders received 1.8663 shares of Fifth Third common stock for each share held, giving them a roughly 27% stake in the combined company.

Tim Spence Wiki – Age, Family, & More

Fifth Third Bank CEO Tim Spence (age 46) is based in the Cincinnati, Ohio area. He keeps his personal and family life private, and details about his spouse and children are not publicly available. Spence is known for his passion for digital innovation and financial inclusion, and has been recognized as one of the most forward-thinking leaders in U.S. banking.

Notable Achievements & Recognitions

• American Banker’s Digital Banker of the Year (2018) — recognized for pioneering Fifth Third’s digital transformation
• Momentum Banking — developed the award-winning Fifth Third Momentum Banking product that uses AI and machine learning
• Ohio Business Roundtable Vice Chairman — active in shaping Ohio business policy
• Bank Policy Institute Board Member — engaged in national banking policy
• Consumer Bankers Association — active member and industry advocate
• CNBC Commentator — regular guest on CNBC’s Money Movers discussing banking and economic trends

Under Spence’s leadership, Fifth Third has been recognized for its innovative approach to banking, including the acquisitions of Provide (a healthcare-focused fintech) and Dividend Finance (a solar and home improvement lender), as well as its partnership with fintech firm Brex for commercial cards.

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About Fifth Third Bancorp

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. Founded in 1858, the company provides commercial and personal banking, wealth management, payments, and investment services. Following its merger with Comerica in February 2026, Fifth Third became the 9th largest U.S. bank.

Frequently Asked Questions (FAQ)

Who is the CEO of Fifth Third Bank?

Tim Spence is the Chairman, President, and CEO of Fifth Third Bancorp. He was appointed CEO on July 5, 2022, and elected Chairman of the Board in December 2023. Under his leadership, Fifth Third completed its $12.3 billion merger with Comerica in February 2026.

What is Fifth Third Bank CEO salary?

Tim Spence’s total compensation was approximately $10.1 million in fiscal year 2024, up from $9.4 million in 2023. This included $3.4 million in total cash compensation, $6.4 million in equity awards, and $300,816 in pension and other compensation.

What is Tim Spence net worth?

Tim Spence’s net worth is estimated at approximately $24.5 million as of 2026, based primarily on his disclosed Fifth Third Bancorp stock holdings of over 336,000 shares plus vested equity awards and other compensation.

What is Tim Spence’s email address?

Fifth Third Bank CEO Tim Spence’s email address is [email protected]. The corporate headquarters is located at Fifth Third Center, 38 Fountain Square Plaza, Cincinnati, OH 45263.

What did Tim Spence do before Fifth Third?

Before joining Fifth Third as Chief Strategy Officer in 2015, Tim Spence was a Senior Partner in the Financial Services practice at Oliver Wyman, a global strategy and risk management consulting firm. Earlier in his career, he held management positions at two early-stage technology firms.

What is the Fifth Third–Comerica merger?

Fifth Third Bancorp completed its merger with Comerica Incorporated on February 2, 2026, in a $12.3 billion all-stock deal. The combined entity became the 9th largest U.S. bank with approximately $294 billion in assets. Fifth Third expects $850 million in annual pre-tax expense synergies from the deal.

Article last updated: March 2026