Fifth Third’s Supplier Diversity Leadership Highlighted at NMSDC Conference
Diverse companies share their experiences working with Fifth Third
CINCINNATI, November 25, 2024 /3BL/ - Fifth Third is celebrating a decade of leadership in supplier diversity, and the bank’s award-winning supplier diversity program was in the spotlight at this year’s NMSDC Annual Conference & Exchange in Atlanta, Ga. last month.
The theme of the event was “Defining New Norms”, and attendees heard from Fifth Third Chief Corporate Responsibility Officer Kala Gibson, who also serves as chairman of the NMSDC Board of Directors, as well as other industry leaders.
“The momentum we’ve built is palpable, and it’s a testament to the powerful, collective impact we’re making together,” Gibson said. “We’re not just rethinking business; we’re reshaping the future of economic opportunity for minority-owned enterprises. Together, we are laying the foundation for a new era of equity and innovation.”
Fifth Third’s three-pronged approach to supplier diversity and economic inclusion was in the spotlight at a NMSDC Power Talk event led by industry veteran Carla Cobb, director of supplier diversity for Fifth Third. Joining her in the discussion were Sadie Catlett of Progressive Business Solutions in Raleigh, N.C., and Kristen Dunning of Gently Soap in Atlanta, Ga.
“At Fifth Third, we believe that a robust, inclusive, and competitive supply chain is better for our business, our customers, our communities, and our employees,” Cobb said. “Supplier diversity is a strategic imperative for us, and our unique, three-pronged approach to supporting the supplier diversity ecosystem has helped us support and empower small businesses across our footprint.”
Cobb discussed how Fifth Third’s focus upon value-driving events, conference elevation and national partnerships has contributed to the growth of companies such as Progressive Business Solutions and Gently Soap.
Catlett and Dunning also shared how their experiences working with Fifth Third has helped them grow and make connections with companies across the nation.
“As my mother always said, ‘A goal without a plan is just a dream’," Catlett said. “Thanks to Fifth Third, I now have that plan in place, and for that, I am forever honored and grateful. The time I’ve spent working with the team at Fifth Third has been invaluable, and I can’t express enough how impactful this experience has been.”
Fifth Third’s supplier diversity program was created in 2014 to encourage small diverse businesses to compete for contracting opportunities with the bank.
A decade ago, Fifth Third’s spend with diverse suppliers was less than 1%. Today, the bank’s spend with diverse suppliers is 11.2%. In 2023, Fifth Third’s program was also named "Best of the Decade" by Minority and Multicultural Business News.
Fifth Third’s industry leadership includes hosting an annual Supplier Diversity Summit at the Bank’s corporate headquarters in Cincinnati, Oh., an event that draws hundreds of thought leaders from across the country and connects suppliers with representatives of Fortune 500 companies.
The Fifth Third Foundation is also a financial supporter of programs such as the NMSDC Centers of Excellence Certificate Program.
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About Fifth Third
Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.
