PNC Financial Services : New PNC Private Bank Regional Structure, Leadership Reflect National Expansion

PITTSBURGH, June 9, 2022 - PNC Private Bank today announced a new, more regionally focused structure that reflects its national expansion and growth while aligning closely with PNC's Main Street Bank model, centered on local organization of its businesses.

Under the new structure, Jennifer Lee will serve as PNC Private Bank's head of U.S. markets - a newly created position with responsibility for sales and client experience throughout the country. Lee previously served as PNC Private Bank's regional leader in the northeast. She now will oversee all regions, which are changing in both number and scope, creating the opportunity for regional leaders to provide an enhanced client experience in every PNC Private Bank market.

Increasing the number of PNC Private Bank regions from five to seven, each with its own regional leader, is intended to create stronger support for PNC Private Bank advisors and more direct and consistent engagement with clients. The seven new regional territories include Greater Pennsylvania, Northeast, Southwest/Mountain, Southeast, Midwest, West and Mid-Atlantic.

"We believe these changes provide both the leadership and structure needed for PNC Private Bank to continue growing effectively across all of our markets on a national scale," said Don Heberle, head of PNC Private Bank. "We are confident this new organizational approach, coupled with Jennifer's leadership, will allow us to further strengthen our existing client relationships and position us to serve future clients across the nation in a consistently exceptional way."

Prior to joining PNC in 2018, Lee served as managing director and market executive for Bank of America Private Bank's flagship New York office. She has held a number of wealth management and private banking roles over her three-decades-long career in financial services, which has included positions at Wells Fargo Private Bank, Lehman Brothers, Neuberger Berman, Goldman Sachs Asset Management and JPMorgan Private Bank. Lee, a graduate of Barnard College in New York City, received her Master of Business Administration from the NYU Stern School of Business.

"Jennifer possesses exceptional business and financial acumen, and we know she will do an outstanding job of bringing to life PNC Private Bank's national presence and expertise at the local level," said Heberle. "Under Jennifer's direction, we believe our clients will benefit from more locally focused leadership and the consistent delivery of more tailored solutions to meet their unique needs, regardless of where they are located around the country."

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 Group, visit www.pnc.com.

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