PITTSBURGH, Feb. 1, 2023 /PRNewswire/ -- As the financial industry addresses the $30 trillion transfer of wealth from baby boomers to younger generations that is currently underway, PNC Private Bank Hawthorn has added new leadership and expanded capabilities to its Institute for Family Success.
In response to this "Great Wealth Transfer" and the changing dynamics of wealth, PNC Private Bank Hawthorn has hired Emily Bouchard as its new head of the Institute for Family Success — the private bank's leading suite of specialized services that helps ultra-high net worth families navigate the benefits, responsibilities, complexities and challenges of multi-generational wealth.
Bouchard, who joins PNC Private Bank Hawthorn from Ascent Private Capital Management and has nearly 20 years of industry experience, brings a unique skillset and background to the Institute for Family Success. She will provide additional value to PNC Private Bank Hawthorn clients by emphasizing a holistic approach to issues surrounding family dynamics, communication, governance, education, conflict resolution and coaching. By naming Bouchard as the head of the Institute for Family Success, PNC Private Bank Hawthorn is strategically positioning the business to further elevate its highly regarded advisory expertise as it continues providing exemplary service to ultra-high net worth families, including blended and modern families.
"Wealth management is almost always complex, but it's especially so for multi-generational families with significant assets," said Annamaria Vitelli, head of PNC Private Bank Hawthorn. "The enormous transfer of wealth that is taking place right now is causing families with significant assets to re-adjust and reconsider how they think and talk about their wealth. Emily's years of experience in family dynamics and effective communication will help our clients navigate the increasingly complex practical and emotional sides of managing and transferring that wealth."
Bouchard will continue PNC's commitment to bringing the full depth and breadth of PNC Private Bank Hawthorn's capabilities to help clients define and achieve the long-term purpose for their wealth. She also will help lead PNC Private Bank Hawthorn's efforts as the wealth management industry transforms to facilitate the transfer of significant wealth as the industry approached an unprecedented era of generational wealth transition.
"For many years, there was an outsized focus in the wealth management industry on the negative elements of wealth and why so many wealth transfers failed," said Bouchard. "The truth is, generational wealth can and should be a positive notion that allows families to achieve their personal, familial, financial and philanthropic goals. But in order for a family's long-term financial situation to remain healthy, their communication and family dynamics must also be healthy. I'm excited to bring my experience in these areas to PNC Private Bank Hawthorn and the remarkable clients we serve."
Bouchard is a graduate of the University of Pennsylvania and University of Texas at Arlington. She holds Chartered Advisor in Philanthropy, Certified 21/64 Facilitator for Family Philanthropy and Family Offices, and 21/64 Certified Advisor designations.
PNC Private Bank Hawthorn is a multi-family office that helps ultra-high net worth individuals and families articulate their passions, manage financial responsibilities and harness wealth for their family's long-term well-being. The Institute for Family Success provides PNC Private Bank Hawthorn clients with additional resources and opportunities to help them flourish personally, professionally and philanthropically.
PNC Private Bank and PNC Private Bank Hawthorn are part of the PNC Asset Management Group (AMG) and The PNC Financial Services Group, Inc. PNC AMG is a relationship-based provider of investment, planning, banking and fiduciary services to wealthy individuals and institutions through the proactive delivery of value-add ideas and solutions. The PNC Asset Management Group offers personal asset management for high and ultra-high net worth individuals and families and institutional asset management services to corporations, healthcare systems, insurance companies, unions, municipalities and nonprofits. For more information about PNC Asset Management Group, visit www.pnc.com.
SOURCE PNC Asset Management Group