Head of local Fifth Third Bank is leaving

By Becky Yerak
Posted Sep. 10, 2010 at 11:51 a.m.

Chip Reeves, president of Fifth Third Bank’s operations in Chicago since 2008, is heading back to Ohio.

The 20-year Fifth Third veteran has accepted a new position within the Bancorp Special Assets Group effective Oct. 1.   SAG is a high-end securities division of the bank.

A search is underway for a new Illinois-area president

Reeves also held the post of senior commercial banker in Chicago.

In his new role, Reeves will  manage relationships between $3 million and $15 million and will report to Bruce Lee, SAG executive vice president.

Fifth Third is based in Cincinnati, which is also Reeves’ hometown and where he’ll be based.

Neil Prendergast will serve as interim senior commercial banker in Chicago in addition to his responsibilities in the structured finance group while Fifth Third searches  for a senior commercial banker.

In 2006, Fifth Third said it wanted 240 local branches by 2010 and market share of 8 to 10 percent. As of June 2009, the latest period for which figures are available, it ranks eighth in market share at 3 percent, with 180 branches.

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  1. Tracy Kiernan Sep. 10, 2010 at 12:24 pm

    Chip is a good guy and has been a very strong supporter of Chicago non profit community!

  2. Linda Beale Sep. 16, 2010 at 1:21 pm

    I want to make you aware of the bad experience I had with fifth third bank in chicago. I filled out an application for a home equity line of credit and was denied based on my credit report. I went to citi bank and filed out an application and was approved. Citi bank made me aware that a judgement was on my report for Saint Xavier University. The judgement had been paid off years ago and I have since notified the three credit reporting agencies. Fifth third took it upon themselves to send me a credit card at which I did not fill out an application for a credit card. When I received the credit card, I cut it in half and then I was sent an invoice for an annual fee. I wrote on the invoice and said I do not want the credit card and Fifth Third responded by saying that I did not provide a signature on a letter authorizing them to close the account and please provide a letter of authorization before they would close the account.The reference number is 2775-30AUG10. I did provide in writing an authorization for the closing of the account. If you could look into this matter, I would appreciate it.


    PS. Under Fifth Third previous name, I received a home equity and paid it off in full. The bank was named evergreen national bank. At that time I lived at 7927 South Fairfield, Chicago, IL