Fifth Third Bank (Nasdaq: FITB) announced today that Richard Butler, Terry Rainosek and Alan Busby have joined the Bank and will lead its national Energy Banking operation. This team will provide banking services to companies in the petroleum and natural gas production, processing and distribution industries.
“The energy sector is a rapidly growing industry. Fifth Third’s new Energy Banking team demonstrates our commitment to providing dedicated banking services to this evolving sector,” said Greg Kosch, executive vice president and head of Commercial Banking for Fifth Third Bank. “The oil and natural gas sector represents a tremendous growth opportunity. Richard and Alan’s wealth of commercial banking and credit experience combined with Terry’s technical background in petroleum engineering will help us develop strong relationships and customized services for companies in this space.”
Butler joins Fifth Third with more than 24 years of commercial banking and financial management experience and will serve as senior vice president and head of the Energy Banking team. Prior to joining Fifth Third, he worked more than 21 years for a British bank for its Corporate Markets in North America, where he most recently served as senior vice president of its energy lending sector.
With more than 31 years of experience in petroleum engineering, Rainosek joins Fifth Third as senior vice president and engineering manager. He previously spent more than 14 years with a British bank, where he most recently served as head of Natural Resources in North America. Prior to this role, Rainosek was a petroleum engineer for two United States-based banks and Amoco Production Company. He is a member of the Society of Petroleum Engineers and the Independent Petroleum Association of America.Busby will serve as senior vice president and senior credit officer and brings more than 28 years of experience in commercial lending and risk management. Most recently he served as head of credit for a British bank, responsible for managing portfolios of oil and gas companies and financial institutions.