Karen Larrimer, head of retail banking and chief customer officer at PNC, will retire after more than 27 years with the bank. Alex Overstrom, PNC’s current head of small business and deputy head of retail banking, will assume responsibility for leading the retail banking line of business.
PNC Financial Services Group completed the conversion of 2.6 million customers, 9,000 employees and nearly 600 branches across seven states from BBVA USA to PNC Bank.
PNC completed its acquisition of BBVA USA Bancshares, including its U.S. banking subsidiary, BBVA USA. Through this transaction, PNC is now the fifth largest U.S. commercial banking organization, with more $560 billion in assets.
The Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency provided regulatory approval of PNC’s previously announced acquisition of BBVA USA Bancshares, including its U.S. banking subsidiary, BBVA USA.
PNC expanded the leadership roles of Deborah Guild, chief security officer, and Ganesh Krishnan, corporate and institutional bank (C&IB) and staff service technology chief information officer.
The PNC Financial Services Group and the Spanish financial group, Banco Bilbao Vizcaya Argentaria, signed a definitive agreement for PNC to acquire BBVA USA Bancshares, including its U.S. banking subsidiary, BBVA USA, for a purchase price of $11.6 billion.
The PNC Financial Services Group added 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.
PNC committed more than $50 million in charitable support for national and local work that will help eliminate systemic racism and more than $1 billion in community development financing and capital for neighborhood revitalization, consumers and small businesses.
PNC Financial Services increased the number of directors on its board to 14 and appointed three new members: Joseph Alvarado, Richard Harshman and Toni Townes-Whitley.