PITTSBURGH, March 3, 2021 /PRNewswire/ -- The PNC Asset
Management Group today announced that Amanda Agati will succeed Mark McGlone as chief investment officer (CIO),
effective April 9, 2021, upon
McGlone's retirement following a 40-year career.
"In Amanda, we have a proven leader who has consistently
demonstrated her capabilities as an investments expert and thought
leader in the industry," said Carole
Brown, head of PNC Asset Management Group. "Her experience
overseeing all investment-strategy related activities, spanning
asset allocation guidance on client portfolios to managing the
evolution of our investment process, brings incredible value to our
businesses. I am confident that she will continue to lead us in
delivering high-quality investment services and solutions to our
clients and prospects."
In her new role, Agati will assume responsibility for the
development and implementation of investment policies, strategies
and tactics, while serving as a member of several internal
governing bodies, including as chairwoman of PNC's Investment
Policy Committee.
Agati and McGlone will work closely over the next month to
transition CIO responsibilities.
"We are grateful to Mark for his thoughtful, measured and
determined leadership that have been instrumental in developing our
integrated investment approach and building a strong Investment
Strategy & Services organization," said Brown. "We are also
grateful for his dedication to the firm's strong commitment to
developing industry leading talent, like Amanda, who will help lead
us into the future."
McGlone's career began at Mercantile Safe Deposit & Trust,
which when acquired by PNC, positioned him for succession into the
role of senior vice president and head of Taxable Fixed Income for
PNC Capital Advisors (PCA). After serving in successive leadership
roles within PCA, McGlone was promoted to the role of chief
investment officer and president of PNC Capital Advisors, LLC. and,
in 2018, was promoted to his current position of chief investment
officer and managing executive of Investments for PNC Asset
Management Group.
Agati served as an Institutional Investment strategist before
assuming her current role of chief investment strategist in 2017.
In this role, she oversees all investment-strategy related
activities for PNC's personal and institutional asset management
businesses.
In addition, she leads the team that establishes overall
strategic and tactical asset allocation guidance of client
portfolios, manages the evolution of investment processes, provides
thought leadership on key investment issues, and is the author of
numerous publications. She also performs research and analytics
that help drive the overall investment recommendations of the firm
while also managing the firm's asset allocation models.
Agati earned a Bachelor of Science in Finance with a minor in
Economics from the Schreyer Honors College of the Pennsylvania State University. She is a CFA®
charter holder, and a member of the CFA Institute and CFA Society
of Philadelphia. She sits on the
boards of several non-profit organizations.
Additional Appointments Effective April 9
Succeeding Agati as chief investment strategist is
Dan Brady, who previously
served as director and client portfolio manager for the Investment
Strategy Group. During his tenure, Brady was recognized as a
top-performing employee within PNC for providing exceptional
oversight of multi-asset class strategy and analysis. Prior to
joining PNC, he worked as a consultant and senior portfolio
associate giving him a unique breadth of experience providing
financial planning services to individuals, families and
institutions. He will report to Agati.
Nick Ashburn will
assume the role of head of Responsible Investing, also reporting to
Agati. He previously served as director of Responsible Investing
for the Asset Management Group, leading the advancement of the
firm's Responsible Investing strategy, including the build out of
research and analytical capabilities, training resources and
thought leadership pieces within the space. Ashburn will continue
this work in his elevated position, providing oversight to the
implementation of the robust offering built under his leadership.
Prior to PNC, Ashburn was senior director of Impact Investing at
the Wharton School of the University of
Pennsylvania, where he oversaw research and educational
activities in impact investing across asset classes, sectors and
geographies.
PNC Asset Management Group, a member of the PNC Financial
Services Group, Inc., 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 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, visit www.pnc.com.
The PNC Financial Services Group, Inc. (NYSE: PNC) 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.
CONTACT:
Britney Sage
(412) 762-8775
britney.sage@pnc.com
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SOURCE PNC Asset Management Group