PNC taps insider for newly created chief corporate responsibility post
Philadelphia Business Journal
By Patty Tascarella Senior Reporter, Pittsburgh Business Times
PNC Financial Services Group Inc., one of the largest banks in the Philadelphia area, named two additions to its executive committee on Tuesday.
Carole Brown will be head of PNC’s Asset Management Group and Richard K. Bynum will serve in the newly created role of chief corporate responsibility officer. Both executives will report to Bill Demchak, chairman, president and CEO.
Brown, who joined PNC (NYSE: PNC) in 2019 as chief change and risk officer for AMG and Corporate & Institutional Banking, 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 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.
Brown previously served as chief financial officer for the City of Chicago under Mayor Rahm Emanuel.
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, he 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,” Demchak said. “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.”
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.
PNC has deposits of nearly $26 billion in the Philadelphia area, good for fourth in the region in terms of market share.