Greg D. Carmichael became the CEO of Fifth Third Bancorp and Fifth Third Bank on November 1, 2015. Before that, he was the President and COO since 2012, and had a significant role as the Chief Information Officer starting in...

Greg D. Carmichael became the CEO of Fifth Third Bancorp and Fifth Third Bank on November 1, 2015. Before that, he was the President and COO since 2012, and had a significant role as the Chief Information Officer starting in 2003. So, he knows the bank inside and out. He holds a degree in finance from the University of Michigan, which helped him build a successful career. Under his leadership, the bank focused on strong performance metrics like earnings per share and efficiency ratios, which made sure they were doing well financially. In 2016, he was awarded a total compensation of about $7.56 million, showing that the board recognized his efforts. However, in 2023, he announced his retirement as Executive Chair, marking the end of a significant chapter. Carmichael is known for his strategic insights and has been a key player in the bank's growth, making sure it adapts and thrives in a changing financial landscape.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Fifth Third Bancorp CEOs

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Greg D. Carmichael

CEO of Fifth Third Bancorp

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

CEO of Fifth Third Bancorp for

9 years 5 months (Nov 2015 - Present)

Previous Experience

Executive Vice President and Chief Information Officer

Rivals

Competitors/colleagues of Greg D. Carmichael

Holdings

See how much did Greg D. Carmichael make over time.

Greg D. Carmichael's insider trading history shows significant fluctuations in his holdings from 2019 to 2023. In September 2019, his holdings were valued at approximately $17.04 million, peaking at about $18.58 million by December of that year. However, by March...

Greg D. Carmichael's insider trading history shows significant fluctuations in his holdings from 2019 to 2023. In September 2019, his holdings were valued at approximately $17.04 million, peaking at about $18.58 million by December of that year. However, by March 2020, there was a noticeable drop to around $12.35 million. The decline continued into 2021 but surged back up, reaching a high of around $30.53 million in January 2022. Even after his retirement announcement in February 2023, his holdings remained healthy, valued at about $23.86 million. This up-and-down journey in stock values reflects his strong involvement and confidence in the bank's direction over the years.

Mar 17, 2025

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shares

FITB @ $38.99

Total Stock Sold

$20.56M

FITB

$20.56M

670,692 FITB shares

What if they kept their stock?

If Greg D. Carmichael didn't sell their stock, today they would have:
Extra FITB670,692 shares worth $11.95M.
This is -41.87% and $8.61M less than what they got when they sold the stock.

Charitable Transactions

FITB

38,786 shares

FITB

Recent Charitable Transactions

FITB

23,450 shares

FITB

Dec 17, 2021

Charity

FITB

14,835 shares

FITB

Feb 26, 2015

Charity

FITB

501 shares

FITB

Nov 18, 2013

Charity

Insider Trading

See recent insider trades of Greg D. Carmichael.

FITB

263,809 shares

FITB

Feb 14, 2023

Received

FITB

$2.00M

FITB at $40.05/share

Apr 21, 2022

Sale

FITB

183,658 shares

FITB

Feb 16, 2022

Received

FITB

$3.33M

FITB at $49.21/share

Feb 7, 2022

Sale

FITB

23,450 shares

FITB

Dec 17, 2021

Charity

FITB

$5.30M

FITB at $34.16/share

Feb 19, 2021

Sale

FITB

138,193 shares

FITB

Feb 17, 2021

Received

FITB

155,302 shares

FITB

Feb 12, 2020

Received

FITB

55,251 shares

FITB

Oct 29, 2019

Sale

FITB

258,654 shares

FITB

Feb 6, 2019

Received

Compensation History

See how much did Greg D. Carmichael make over time.

In 2016, Greg D. Carmichael's total compensation amounted to $7,555,081. This package consisted of a base salary of $994,287, a substantial cash incentive of $2 million, and vested stock worth approximately $3.61 million. He also had options valued at around $637,501 and other benefits totaling $310,790. The incentive compensation was tightly linked to key performance measures like earnings per share and return on risk-adjusted assets. His pay over the years showed a significant increase reflecting the increase in responsibilities and the bank's performance under his leadership. In 2015, before taking the CEO role, his total compensation was notably lower at $6,451,050, indicating the jump in recognition of his capabilities as a leading executive.

Year

2016

Total Compensation

$4.92M

Salary

$994.29K

Board Justification

The compensation philosophy of Fifth Third Bancorp aims to attract and retain qualified executives while aligning their compensation with the long-term interests of shareholders and managing risk effectively.

Bonus

$0.00

Board Justification

The annual cash incentive compensation program’s objective is to reward executives for corporate, business unit, and/or individual performance. For 2016, the cash incentive compensation for Mr. Carmichael was set at $2,000,000 based on performance metrics.

Other

$310.79K

Board Justification

Other compensation includes trust and estate planning fees, parking, and the incremental cost of travel and entertainment benefits provided to Mr. Carmichael's guest at business functions, as well as an executive physical.

Restricted Stock

$3.61M(3.61M RSU)

Board Justification

The stock awards granted to Mr. Carmichael in 2016 included performance shares and restricted stock units that vest based on performance metrics and time-based vesting schedules.

Performance Metrics

The performance metrics for determining Mr. Carmichael's compensation included adjusted earnings per share (EPS), adjusted return on risk weighted assets (RORWA), and adjusted efficiency ratio.

Other Fifth Third Bancorp CEOs

Here are other CEOs of Fifth Third Bancorp

Kevin T. Kabat

Ex-CEO of Fifth Third Bancorp

April 2007 - November 2015