CINCINNATI, Sept. 25, 2006 (PRIMEZONE) -- Financial Stocks, Inc., which operates a multi-strategy investment platform focused on opportunities in the financial services sector, announced today that Robert J. King, Jr., former President and Chief Executive Officer of Fifth Third Bank (Northeastern Ohio), a unit of Fifth Third Bancorp (Nasdaq:FITB), has been hired as Managing Director in the firm's private equity division.
Mr. King brings more than three decades of bank management and operations expertise to Financial Stocks, where he will serve as a member of the firm's private equity investment committee. In addition to evaluating investment opportunities in the banking sector, Mr. King will help manage the firm's investments in existing portfolio companies.
"Having spent thirty years at Fifth Third, historically an acquisitive bank, Bob King has significant industry M&A experience and has evaluated numerous transactions during his tenure," said Steven N. Stein, Chairman and CEO of Financial Stocks. "We look forward to leveraging Bob's strong industry relationships to identify potential investments for Financial Stocks and to create new opportunities for the firm and our investors. We are pleased to have an executive with Bob's pedigree and passion for the banking industry join our firm."
Mr. King joins Financial Stocks from investment bank Western Reserve Partners, where he served as Managing Director. Mr. King joined Fifth Third Bank (Cincinnati) in April 1975 as a management trainee. During his tenure with Fifth Third Bank, he served as Vice President of Institutional Asset Administration, Director of Marketing, Commercial Lending Officer, Customer Service Manager and Marketing Research Specialist. In 1989, Mr. King joined Fifth Third Bank (Northeastern Ohio) as an Executive Vice President and was promoted to President and Chief Executive Officer the following year. In 1997, Fifth Third's Board of Directors appointed Mr. King Chairman of Fifth Third Bank (Northeastern Ohio), a position he held until his retirement from the bank in 2005.
Mr. King currently serves as a director on the boards of The Andersons, Inc. (Nasdaq:ANDE), MTD Holdings, Inc. (NYSE:MDT) and Shiloh Industries, Inc. (Nasdaq:SHLO), and as an Advisory Director of Austin Powder and Findley Davies. He received an undergraduate degree in finance from the University of Cincinnati in 1978 and an MBA from Xavier University in 1981. In addition, he is a graduate of the Stonier Graduate School of Banking.
About FSI
FSI operates a multi-strategy investment platform focused on opportunities in the financial services sector. The firm specializes in financing and investing in banks, thrifts, insurance companies, REIT's, real estate operating companies, specialty finance firms, asset management firms, financial technology companies, and brokerage firms. The firm's investments focus on three broad strategies: long/short equity, private equity, and mezzanine/structured finance. FSI delivers value to its investors and its portfolio companies through its broad and deep industry experience, expertise in corporate finance, and experience with complex financial institution regulation and capital structures. FSI was founded in 1995 by Steven N. Stein and John M. Stein and manages over $5.0 billion in assets. FSI is a registered investment advisor with offices in Cincinnati, New York, Charlotte and Atlanta.