Bank to move 32 jobs out of Toledo

Most of the investment adviser group is to be at the former Capital Bank in Sylvania.

Fifth Third Bank (Northwestern Ohio) plans to move 32 employees from downtown to Monroe Street in Sylvania to consolidate its investment adviser group.

Steven Coffin, head of the group, said yesterday 15 of the group's 60 employees are at the former Capital Bank headquarters at 5520 Monroe. A dozen more will remain at a site in Findlay.

Fifth Third acquired Capital Bank in 2001.

The bank said the move has nothing to do with an ongoing issue involving its proposal to tear down three buildings on Huron Street behind its downtown regional operations center and replace them with a courier drop-off and parking lot.

In an effort to save those buildings, a compromise has been reached under which the city would authorize the Downtown Toledo Parking Authority to build a parking garage on the south side of Erie Street between Adams Street and Madison Avenue, with a secure delivery area reserved for the bank.

Jay Black, Mayor Jack Ford's chief of staff, said yesterday, "Fifth Third Bank is a very important large downtown employer and we hate to see even one job leave. However, this is a business decision to consolidate services."