The PNC Financial Services Group, Inc., (NYSE: PNC), today announced the creation of a new Financial Institutions Group to provide mid-sized banks and financial institutions, those with assets of $200 million to $25 billion, with a variety of strategies, tools and services to better assess their portfolios and to improve management of assets, risks and operations.
"In a market that is experiencing changes in the yield curve and rising interest rates, banks of all sizes are focused more than ever on analytics to help improve existing balance sheets. We are leveraging PNC's capital markets strengths and the risk analytics capabilities of BlackRock Solutions to package a range of products to help middle market banks and savings and loans manage their balance sheets," said Bill Demchak, vice chairman and head of PNC's Corporate and Institutional Banking.
PNC offers mid-sized banks and financial institutions access to an extensive array of capital markets solutions, with an emphasis on fixed income securities, as well as treasury, liquidity and asset/liability management solutions. The key component of PNC's solution for mid-sized banks is the balance sheet/portfolio analytics tools.
"Over the past three years, PNC enhanced its own asset and risk management capabilities by integrating the balance sheet and portfolio analytic tools and reports developed by BlackRock Solutions," said Demchak. "Our goal is now to offer mid-size banks the expertise, strategies and a diverse product capability of a Wall Street investment bank with the touch of a smaller, local institution."
PNC will leverage existing capital markets and asset/liability management staff, adding experienced investment bankers to its Financial Institutions Group based in Philadelphia and Pittsburgh as well as creating a new team in New York. Charlotte McLaughlin, head of PNC's capital markets business, leads the new effort.
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation's largest diversified financial services organizations providing retail and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.
Securities products are offered by PNC Capital Markets LLC, a member of The PNC Financial Service Group, Inc. and member NASD and SIPC.
SOURCE: The PNC Financial Services Group, Inc.
CONTACT: Amy Vargo of The PNC Financial Services Group, Inc.,
+1-412-762-1535, or amy.vargo@pnc.com
Web site: http://www.pnc.com/
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