Former M&T executive Darren King moves to Fifth Third

Darren King, who spent nearly a quarter century at M&T Bank , is the new head of regional banking at Fifth Third.

The Cincinnati-based bank announced the hire on Monday. King will report directly to CEO Tim Spence and will lead Fifth Third's operations in middle market commercial banking and wealth management, the bank said.

"Darren is a seasoned leader with a strong track record leading business teams to realize successful financial outcomes, and I'm thrilled to welcome him to Fifth Third," Spence said in a statement. "His leadership and business development skills will be immediately impactful for our clients and our employees as we continue to grow across our footprint."

Brian Foran, an analyst at Truist Securities, said King seemed like a natural fit for his new employer.

"He spent quite a bit of time running retail … and the retail bank is such an important part of the Fifth Third story," Foran said. "So I think hiring someone who's got all that experience and has run a similarly sized competitor's retail bank seems like a pretty good pickup for them."

Before arriving at Fifth Third, King was at M&T Bank for almost 25 years. At the Buffalo, New York-based bank, he held a number of leadership positions, including chief financial officer starting in 2016. In 2023, he transitioned out of the CFO role and became a senior executive vice president, in charge of M&T's retail and business banking.

Then, in June 2024, M&T announced that King was leaving the company, offering little explanation.

"Darren has decided after 24 years to leave the company for personal reasons," Frank Lentini, a spokesperson for M&T, told American Banker at the time. "We appreciate the contributions that Darren has made across the organization during this time."

During that period, King's departure was just one of several changes at M&T. In 2022, the bank announced that Daryl Bible, a longtime leader at Truist Financial, would take over as CFO the following year. Rich Gold, the bank's president and chief operating officer, retired in the summer of 2023.

In a statement about his new position, King did not refer directly to his time at M&T but alluded to his many years of experience.

"Throughout my career, I've had the honor of working with complex, rapidly growing businesses, diverse and talented leadership teams, and significant clients," King said. "I'm eager to build upon the exceptional foundation the Fifth Third team has established to drive future growth for this remarkable franchise."

Fifth Third is a super regional bank that has been rapidly expanding in recent years. As of its most recent earnings call, the bank has $213 billion in assets and operates 1,084 branches across 12 states. Though based in Ohio, Fifth Third has been prioritizing its growth in the U.S. Southeast. In 2024, the bank added 31 new branches in the region, and it plans to add 50 or more every year through 2028.

Foran said hiring King dovetails nicely with that strategy.

"I think it's just a statement about how committed they are to retail," Foran said of Fifth Third. "If you look at banks that have been willing to invest in branches, technology, new products, Fifth Third really stands out amongst the regionals."

As head of Fifth Third's regional banking, King is succeeding Kristine Garrett, who is retiring. Garrett had been group regional president since 2022 and has been with the bank since 2017. She is staying on at Fifth Third until June to provide a smooth transition, the bank said.

Catherine Leffert contributed to this article.