Fifth Third Bank Bolsters Asset-Based Lending Team

Wanda Alverio and Andre Lemons join as Vice President, ABL Principals;

John Littrell promoted to Group Head Portfolio Management

Fifth Third Bank, N.A. recently announced that Wanda Alverio and Andre Lemons have joined the Fifth Third Business Capital team as vice president, ABL principal. In addition, John Littrell was promoted to group head portfolio management.

•            Wanda Alverio joins as vice president, ABL principal and brings nearly 25 years of banking experience to Fifth Third, including more than a decade in asset-based lending. Wanda earned an MBA in finance from Nova Southeastern University and holds a bachelor’s degree in Finance from the University of Illinois.

•            Andre Lemons joins as vice president, ABL principal and has seven years of industry experience. Andre earned a bachelor’s degree in Business Administration from Clayton State University and an MBA in finance from the University of Georgia.

•            John Littrell is a 33-year veteran of the ABL industry with a focus on serving middle-market companies. In his new role as group head portfolio management, he will report to Bill Stapel, who was recently appointed as co-head of Fifth Third’s Asset Based Lending group. Littrell previously served as managing director and relationship manager for Fifth Third Business Capital. He holds a bachelor’s degree in finance from the University of Illinois Urbana-Champaign.

About Fifth Third Business Capital

Fifth Third Business Capital provides creative asset-based financing to large corporate and middle market companies throughout the United States and Canada from $5 million and up. The team serves manufacturers, distributors, service companies, and retail chains with sales from $25 million and up, primarily with needs related to acquisitions, dividend recapitalizations, growth, debt restructurings, capital expenditures, and turnarounds. Fifth Third Business Capital provides flexible structures that include revolving lines of credit and term loans, all supported by accounts receivable, inventory, equipment, real estate, and intangibles. As part of the overall financing, Fifth Third Business Capital also selectively considers cash flow term loans supported by sufficient operating earnings to repay these loans in a timely manner.

Fifth Third Business Capital is a division of Fifth Third Bank, National Association. Credit products are subject to credit approval and mutually acceptable documentation. In the United States deposit and credit products offered by Fifth Third Bank, National Association. Member FDIC.   Equal Housing Lender.

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, National Association, a federally chartered institution. As of Dec. 31, 2020, Fifth Third had $205 billion in assets and operated 1,134 full-service banking centers and 2,397 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third provides its customers with access to approximately 52,000 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 Dec. 31, 2020, had $434 billion in assets under care, of which it managed $54 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, National Association. Member FDIC.