The PNC Asset Management Group (PNC AMG) has rebranded its personal wealth management business under the newly created brand PNC Private Bank.
The company noted that the move is part of its strategy to position all segments of personal wealth under one brand umbrella.
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Concurrently, PNC AMG has also decided to accelerate its investments in talent and technology to support the expansion of the local delivery of personal wealth offerings across its market footprint.
These include investment in infrastructure, investment platforms and administrative capabilities.
PNC Asset Management Group head Carole Brown said: “PNC Private Bank exemplifies the robust expertise and capabilities our team offers to clients spanning emerging, established and multi-generational stages of wealth.
“Unifying our personal wealth businesses in this way is consistent with the seamless client experience we strive to provide, regardless of where a client is located or where they fall on the wealth spectrum.”
PNC Private Bank
Headed by Don Heberle, the new brand will cater to emerging, established and multi-generational affluent wealth segments.
It will have teams of advisors with specialised expertise in serving clients across these segments in each new market that PNC enters through its acquisition of BBVA USA.
PNC AMG said it currently introducing the new brand to BBVA USA wealth clients through a series of communication as part of their conversion to PNC.
The company also plans to expand its private banking teams in most of its existing markets.
These teams will serve the clients through PNC Private Bank Hawthorn, the bank’s ultra-high net worth vertical led by Anna Vitelli.
Brown added: “Building on the strength and momentum of our personal wealth business is the next step in our journey to becoming the leading relationship-based provider of wealth management services.
“Our reach will be greater, our availability will be local, and our capabilities will be enhanced, but our focus will remain solely on how we leverage this growth to best provide a value-added, seamless client experience.”
In March this year, PNC AMG appointed Amanda Agati as its new chief investment officer (CIO).
