Fifth Third Bank 2002 Annual Report Download - page 11

Download and view the complete annual report

Please find page 11 of the 2002 Fifth Third Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 66

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66

9
2002 ANNUAL REPORT
Tiffiney Meade, center, Banking Center Manager, greets Wen and Wendy Yu at a Fifth Third
Bank Mart in a Kroger supermarket in Columbus, Ohio, where the Wu family owns and
operates the Mandarin Inn restaurant. They chose Fifth Third because of its friendly
service, seven day a week access and broad array of banking products, which gave
them a single source for their business as well as their personal investment needs.
business officers, partnered with cash
management, investment and
electronic payment processing
personnel, remain committed to
helping customers operate more
efficiently. They demonstrate this
commitment every day by getting
out from behind their desks and
observing first hand the inner-
workings of our customers’
businesses.
Investments - New Focus,
Products and Capabilities
Banking Center revenues from
investment advisory services
increased by 42 percent in 2002.
Over 1,800 Banking Center
employees are licensed and
participating in the sale of mutual
funds, annuity products and Capital
Management Accounts, Fifth Third’s
integrated banking and investment
solution. This number has increased
from just 76 three years ago.
Fifth Third’s Retail Brokerage and
Private Banking operations now
encompass over 175 full-time
licensed securities representatives
assigned and deployed throughout
the Banking Center network, an 18
percent increase over 2001 levels. In
2002, a difficult year in the markets,
our sales force concentrated on
working more closely with the
Banking Centers in leveraging the
Retail network. As a result, 13
affiliates responded with double-
digit growth in brokerage revenues,
new mutual fund sales increased by
13 percent and annuity sales
revenues increased by over $28
million from the prior year.
Additionally, over 14,000 Capital
Management Accounts were sold in
2002, representing $1.4 billion in
investment balances and an
important growth opportunity for
the future. 䡲
▼