PITTSBURGH, July 7, 2020 /PRNewswire/ -- The PNC Financial
Services Group, Inc. (NYSE: PNC) today announced the addition of
two new members to its Executive Committee. Carole Brown will be Head of PNC's Asset
Management Group (AMG), and Richard K.
Bynum will serve in the newly created role of Chief
Corporate Responsibility Officer. Both executives will report to
Chairman, President and Chief Executive Officer William S. Demchak.
Brown, who joined PNC in 2019 as chief change and risk officer
for AMG and Corporate & Institutional Banking (C&IB), will
be responsible for leading PNC's wealth management and private
banking services for high-net-worth and ultra-high-net worth
individuals and families, as well as custom investment and advisory
solutions for institutional clients. She succeeds
Michael P. Lyons, who was
instrumental in recruiting Brown to PNC. Lyons, also a member of
PNC's Executive Committee, will continue to lead PNC's C&IB
group.
Bynum, who has more than 15 years of experience at PNC, most
recently as regional president of Greater
Washington, will lead PNC Community Affairs and Corporate
Social Responsibility; Community Development Banking; and Diversity
and Inclusion. In his new role, Bynum also will be responsible for
leading the implementation of PNC's recently announced $1 billion commitment to help end systemic racism
and support the economic empowerment of African Americans and low-
to moderate-income communities.
"PNC is fortunate to have an excellent team of senior executives
leading our company during these complex and challenging
times. As we continue to drive PNC forward from a position of
strength, we are thrilled to further enhance our leadership through
the appointment of Carole and Richard to our executive team,"
Demchak said.
On Brown, Demchak said, "Carole has distinguished herself as a
results-oriented, collaborative leader who best represents PNC's
unwavering commitment to serving our clients. She is a proven
leader with an incomparable skillset and a track record of
achieving improved financial performance, and brings new and fresh
perspectives to our company and to AMG, a business with good
momentum as a value-added wealth manager and institutional asset
manager. I am delighted and proud to have her join our Executive
Committee."
On Bynum, Demchak said, "As a senior leader in our bank, Richard
fully understands and embodies the importance PNC places on
fulfilling our commitments to our clients, communities and
employees. In this new role, he will drive meaningful change that
will allow us to even better serve our communities and strengthen
PNC as a whole. Though we are proud of the work PNC has done to
date to drive economic empowerment and racial equality, we know we
must do more at this pivotal moment, and I am confident that
Richard will be instrumental as we accelerate our progress."
Brown, prior to joining PNC in August
2019, served as chief financial officer for the City of Chicago under Mayor Rahm Emanuel, assuming that role just as the
city entered the greatest fiscal crisis in its 149-year history.
During her four-year tenure that commenced in 2015, Brown worked
closely with the mayor and his senior management team to develop
and implement a series of financial reforms to restore financial
stability to the city.
Before her leadership role with the City of Chicago, Brown had a more than 25-year
career as one of the leading municipal finance investment bankers
in the country. She gained extensive leadership experience in
civic and community engagement, including serving as chair of the
Chicago Transit Authority Board for 6.5 years until 2009; a member
of the Transition Team for Chicago
Mayor Rahm Emanuel, including as
chair of his TIF Reform Panel; and a member of the Securities and
Exchange Commission Fixed Income Market Structure advisory
committee from 2017 to 2019.
She serves on several non-profit boards, including the
Steppenwolf Theatre Company and Metropolitan Planning Council; and
also is a member of The Economic Club of Chicago, the Executives' Club of Chicago and The Chicago Network. She
graduated from Harvard University with
a bachelor's degree in government and from Northwestern University Kellogg School of
Management with a master's degree in management.
Bynum is an accomplished executive with nearly 20 years of
executive leadership experience. He was named regional
president of PNC in Greater
Washington in 2017, previously serving as a member of PNC's
retail executive team, where he led the company's Business Banking
division. Prior to that, Bynum served as PNC's Greater Washington retail market executive,
where he led consumer and small business sales; and also served as
chief operating officer for PNC Business Banking, where he led the
sales force operating platform for hundreds of small business
bankers across PNC's footprint.
Bynum began his career with PNC in 2005 in its Executive
Leadership Program, holding key roles in the development and
execution of revenue-driving businesses and initiatives;
strengthening the brand; and enhancing engagement of employees
while fostering innovation throughout PNC. Prior to joining PNC,
Bynum served as a senior leader with the American Red Cross. His
12-year tenure included roles as the managing director for disaster
response and emergency communications for the organization's
Chicago chapter and as an
operations director for the Kosovo Refugee Operation and
September 11th effort in New York.
Bynum – who has been recognized as one of Washington, D.C.'s most influential business
leaders by the Washington Business Journal – serves on the
boards of numerous non-profit and civic organizations, including
the corporate council for the Smithsonian National Museum of
African American History & Culture; the Economic Club of
Washington, D.C.; the Wolf Trap
National Park for the Performing Arts; the Federal City Council;
the Philip L. Graham Fund Foundation; the United Way – National
Capital Area; and the Greater Washington Community Foundation.
Bynum holds an MBA from the Northwestern
University Kellogg School of Management and an undergraduate
degree in Political Science from Florida State
University, and is a graduate of the Consumers Bankers
Association Graduate School of Retail Bank Management.
The Greater Washington regional
president role vacated by Bynum will be filled by D. Jermaine Johnson, executive vice president and
market manager of Corporate Banking for PNC in Greater Washington and Greater Maryland, effective Aug. 1.
Johnson brings 25 years of industry experience, including his
current market role leading the large corporate, middle market, and
government contracting segments. Throughout his career, Johnson has
demonstrated a strong commitment to corporate growth and strategy,
leading strategic partnerships and driving customer engagement.
Prior to joining PNC in 2005, Johnson held a number of
leadership positions with increasing responsibility at Bank of
America and GE Capital. He is a graduate of James Madison University, with a bachelor's degree
in Finance. Johnson also is actively engaged in the community,
serving as Treasurer for the Greater
Washington Board of Trade, and as an Audit Committee member
for the March of Dimes.
The PNC Financial Services Group, Inc. is one of the largest
diversified financial services institutions in the United States, organized around its
customers and communities for strong relationships and local
delivery of retail and business banking including a full range of
lending products; specialized services for corporations and
government entities, including corporate banking, real estate
finance and asset-based lending; wealth management and asset
management. For information about PNC, visit www.pnc.com.
CONTACTS:
MEDIA:
Marcey
Zwiebel
(412) 762-4550
media.relations@pnc.com
INVESTORS:
Bryan
Gill
(412) 768-4143
investor.relations@pnc.com
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SOURCE The PNC Financial Services Group, Inc.