“Go to Where Your Clients Are”was the vision for the new Fifth Third Private Bank that recently opened its doors in downtown Montgomery. The Fifth Third Private Bank office provides financial planning, wealth advisory, trust and estate services, and other services for many of its high-net- worth clients.
As part of the newly constructed Montgomery Quarter, Fifth Third Private Bank is only the second tenant to open in this mixed-use development that will include two office buildings, a 100-room hotel with banquet space and restaurants, two parking garages and retail space with restaurants, all built around a community green space.
The 18,000-square-foot space on the new building’s top floor is an addition to Fifth Third Private Bank’s current office at its headquarters on Fountain Square. The new office will initially have about 48 employees, while 45 will re- main at the downtown location. The Montgomery Fifth Third Private Bank office carries exclusivity for financial services for the Montgomery Quarter.
“This new Montgomery location allows for a central meeting location,” says Joel Stone, downtown-based Fifth Third’s Senior Vice President and Private Bank Managing Director.
“We’re passionate about going where our clients reside. Sixty per- cent of our clients in Greater Cincinnati live within a 15-minute drive of this location, so that’s a big reason we chose it. We also wanted to be close to where many of our team members live. We realized this site was perfectly situated.”
Comfortable and Collaborative
The idea behind the new Fifth Third Private Bank sprang from three words: team, client and community.
With over 100 years of wealth planning experience, Fifth Third Private Bank offers a team approach to investment solutions to help clients meet their goals. That relationship continues as clients’ plans and needs change. This mission was the driving force behind the new location’s design.
The team focused on creating a collaborative workspace. For clients, giving them space and privacy makes it easier to make financial decisions. And the community gets the support of having an economic leader in the neighborhood.
The Montgomery office is divided equally, with 50% client meeting space and 50% team member space.
The new office offers several options to make everyone feel comfortable and at home. There is an open work environment with several collaboration areas, including an Idea Lab. Seven meeting rooms offer plenty of space to meet with clients, all featuring glass that converts between transparent and opaque so no one can see in when meetings are taking place. “Client confidentiality is one of our guiding principles,” Stone says.
Meeting rooms have names that recognize well-known people and areas of Montgomery, such as Cooper, Gregory, and Swaim Park. Some spaces have a living room feel with couches and big T V screens.
“We want to be able to have conversations with clients, whereas a board room presentation might be a little intimidating,” Stone notes.
Surveys were conducted to help bring the idea to life. In 2022, Fifth Third saw that most of their clients wanted to meet in per- son. In a post-COVID world, Fifth Third Private Bank wants to provide that for their clients but also service those who feel comfortable with a little more distance. The office is designed to be functional in both ways.
For Fifth Third employees, a clubhouse area gives them a relaxing place to sit and collaborate or take a break. Workstations have large, curved monitors for additional privacy, and all areas can be used during social distancing.
Montgomery is a vital community in the Cincinnati area and having a financial leader there will continue to benefit the city. It is easily accessible from Indian Hill, Kenwood, Madeira and other upscale areas in the region. The addition of the Montgomery Quarter will make it a hub for business and entertainment alike.
Passion for Cincinnati
“We look forward to being a part of and supporting the Montgomery community,” says Stone. He has spent his entire career with Fifth Third and is passionate about making it the best in the city.
Growing up in Anderson, Stone left to complete his degree at the University of Michigan. His first job post-college was working as a trust officer for Fifth Third’s Wealth Management
Advisors. He moved on to offices in Louisville and Lexington to focus on lending and, in 2016, moved back to Cincinnati to begin his leadership journey as a director. Stone loves the city and all that it has to offer. He believes now more than ever, companies are working together to grow and prosper the city.
It Starts at the Top
The recently retired CEO and now Executive Chairman of Fifth Third Bank, Greg Carmichael, is leading the 2022 United Way Campaign. United Way offers programs and partnerships designed to help families across 10 counties in Ohio, Kentucky and Indiana pursue a path out of poverty. Under Carmichael’s leadership, more than 16,000 Fifth Third Bank employees nationwide participated in United Way campaigns, pledging $5.6 million nationally and more than $3 million in Greater Cincinnati.
Stone, doing his part for the city, serves as chair of the Cincinnati Ballet board of trustees. His goal is to be a leader in making the arts more diverse. His commitment carries over to Cincinnati’s many professional sports teams through supporting programs that provide community experience opportunities for the underprivileged.
Fifth Third prides itself on its community involvement and support, which will only deepen under new President and CEO Tim Spence. With locations in 11 different states, it only makes sense that the pilot for the redesigned private bank experience is in the city where Fifth Third Bank is headquartered.
“It’s a great time to be a part of the Cincinnati community!” Stone says.
Want to get in touch with Fifth Third Private Bank? Call 513-534-2444. The bank’s convenient new location is 9280 Montgomery Rd., Suite 300, Cincinnati, Ohio 45242.