Ex-Wells Fargo exec Pittman slated to enhance bank's "strategic direction". Late last month Cincinnati-based regional bank Fifth Third made former Wells Fargo executive David Pittman president of its investment-advisory business.

"David has tremendous talent and expertise in the wealth planning and investment management areas," says Fifth Third's president Kevin Kabat president of Bancorp. "I am confident that he will guide Fifth Third Investment Advisors to the next level."

Fifth Third Investment Advisors provides asset and wealth management products and solutions, including wealth planning, fiduciary services, brokerage, retirement plans and custodial services.

Pittman reports to Fifth Third's executive v.p. Charles Drucker.

Goals

As a regional director for Wells Fargo, Pittman was in charge of the San Francisco-based bank's branch-based private client business in the Midwest as well as de novo private-client offices established outside the bank's retail footprint.

Before working at Wells Fargo, Pittman was with American Management Systems, Riggs National Bank (now part of PNC Bank) and the Continental Oil Company (now part of ConocoPhillips).

"As he begins leading this business, David's goal will be to enhance our strategic direction in Investment Advisors and to continue to differentiate Fifth Third's products and services from our competitors," says Drucker.

In September Fifth Third shuttered its St. Louis wealth-management business when Jim Paul, the executive it had hired in 2002 to run it, left the bank. Fifth Third had been scaling back its local wealth-management operations even as it opened more retail branches in the St. Louis area. -FWR

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