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Fifth Third Bancorp Introduces New Investment Banking Capabilities for Renewable Energy Industry
August 15, 2019
Source: Business Wire
Fifth Third Bancorp (Nasdaq: FITB) announced today that Fifth Third Securities Inc. has hired Timothy Beach, Ari Citrin and Oliver Janssen as managing directors to lead its new Renewable Energy Investment Banking Group.
“The creation of a dedicated group to offer M&A and capital markets advisory services for the renewable energy industry adds to the capabilities, services and expertise established by our Renewable Energy Finance Group led by Eric Cohen,” said Lars Anderson, executive vice president and chief operating officer for Fifth Third. “We are proud to welcome a team that has a significant track record as trusted advisors to the industry to help our clients achieve their objectives.”
Since 2012, Fifth Third has provided financing for solar projects, including large utility-scale projects, distribution generation and community solar, in more than 25 states for middle-market companies.
“Renewable energy capacity and generation has grown exponentially and we believe that will continue,” said Cohen, vice president and group head of Fifth Third’s Renewable Energy Finance Group. “The new Investment Banking group will be instrumental in building on our solar growth strategy and delivering value for our clients.”
Based in San Francisco, the Renewable Energy Investment Banking Group composed of more than 10 professionals will report to Rob Schipper, head of Investment Banking. The Investment Banking and M&A team provides a depth of experience in advising a range of industry sectors, including consumer and retail; diversified industrials; downstream petroleum; technology, media and telecom; and healthcare.
The Renewable Energy Investment Banking Group is part of a larger strategic buildout in San Francisco, where Fifth Third plans to provide its full scope of middle-market banking capabilities, and builds on Fifth Third Capital Markets’ recent growth. In 2018, Fifth Third Securities acquired Coker Capital, which specializes in M&A advisory services for middle-market healthcare companies.
About Fifth Third Capital Markets
Fifth Third Capital Markets seeks to provide value-added advice and financial risk solutions aimed to support the growth, profitability and capital needs of mid-sized and large corporate clients. Fifth Third Capital Market offerings include investment banking++, debt capital markets+, bond capital markets++, equity capital markets++, financial risk management+, and fixed income sales and trading++. The group has offices in Atlanta, Charlotte, North Carolina, Cincinnati, Chicago, Cleveland, Dallas, and Memphis and Nashville, Tennessee, providing services across a variety of industries such as large corporate; mid corporate; consumer and retail; energy; entertainment, lodging and leisure; healthcare; real estate; technology, media and telecom.
+ Services and activities offered through Fifth Third Bank
++ Services and activities offered through Fifth Third Securities, Inc.
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 June 30, 2019, Fifth Third had $169 billion in assets and operated 1,207 full-service Banking Centers and 2,551 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 53,000 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 June 30, 2019, had $399 billion in assets under care, of which it managed $46 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.
Fifth Third Securities is the trade name used by Fifth Third Securities, Inc., member FINRA/SIPC, a wholly owned subsidiary of Fifth Third Bank, a registered broker-dealer and a registered investment advisor registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Securities and investments offered through Fifth Third Securities, Inc.:
Coker Capital Securities, LLC, doing business as Coker Capital Advisors, is a subsidiary of Fifth Third Securities, Inc. Fifth Third Securities, Inc., member FINRA/SIPC, a wholly owned subsidiary of Fifth Third Bank, a registered broker-dealer, and a registered investment advisor registered with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. Fifth Third Bank is engaged in a broad range of financial and securities activities. Coker Capital Advisors is not a registered broker-dealer and provides Mergers and Acquisitions advisory services to privately held businesses.
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