Daily News: October 26, 2012

A Bank CEO Thrives Far From Wall Street

In an article on PNC Financial’s CEO Jim Rohr, Bloomberg said that according to analyst Mike Mayo of CLSA, Rohr sports the longest tenure and best-performing stock among a roster of 17 financial institutions that includes Goldman Sachs, Bank of America, JPMorgan Chase, Morgan Stanley and Wells Fargo.

Bloomberg said, “The grandfather has been with PNC (and his wife) for 40 years and looks more out of central casting for brake-pad salesman than a systemically important Wall Street CEO.”

Bloomberg quoted Dave Bugajski of equity research firm Discern as saying, “Jim Rohr’s hardly a household name, but he’s been conservative and opportunistic enough to make the bank a winner – I’d argue maybe the biggest winner of the financial crisis.”

To read the Bloomberg story, click here.