PNC Financial Services Group Stock Price, News & Analysis

The PNC Financial Services Group announced that Karen Larrimer, head of Retail Banking, will retire on July 1, 2022, after 27 years. Larrimer will continue as chief customer officer throughout 2022. Alex Overstrom, currently head of Small Business, will take over Retail Banking responsibilities. Larrimer played a crucial role in PNC's digital expansion and customer satisfaction initiatives during her tenure. Under Overstrom's leadership, PNC successfully integrated BBVA USA, adding 2.6 million customers and 600 branches.

PNC Bank and Whitaker Center have launched the PNC Innovation Zone, a 7,000-square-foot space designed to blend gaming with STEAM education. The facility features a 40-foot digital cinema and a purposeful gaming studio that accommodates esports activities and educational programs. With over 90% of children engaging in video games, this initiative aims to promote coding, graphic design, and technology awareness. Supported by Comcast's free Wi-Fi Lift Zones, the PNC Innovation Zone encourages community engagement and aims to inspire future digital leaders.

Harris Williams announced its advisory role in the sale of Fairway Lawns to an investment fund managed by Morgan Stanley Capital Partners (MSCP). Fairway Lawns, a leader in lawncare services across seven Southeastern states, has a 40-year history and over 70,000 customers. The transaction reflects Harris Williams' ongoing success in residential services and its commitment to client outcomes. Prairie Capital and Rising Point Capital were the previous owners, with Prairie noted for its extensive investment in lower-middle market companies.

PITTSBURGH, May 19, 2022 /PRNewswire/ -- The PNC Financial Services Group (NYSE: PNC) will have its Chairman, President, and CEO William S. Demchak, along with CFO Robert Q. Reilly, discuss business performance and strategy at the Bernstein Strategic Decisions Conference on June 2, 2022, at 10 a.m. (ET) in New York City. The event will be accessible via a live webcast and include related materials, with the replay available for 30 days. PNC is one of the largest diversified financial services institutions in the U.S., offering a variety of banking and wealth management services.

Harris Williams announces the sale of BELLAMI Hair, a premium hair extensions brand, to Beauty Industry Group (BIG), under L Catterton. This transaction highlights BELLAMI's strong market presence and innovative approach in the hair care sector. Founded in 2012, BELLAMI offers quality products via e-commerce and their Beauty Bars while BIG leads in professional hair extensions across 1,200 stores in North America. L Catterton, a major private equity firm, supports growth in consumer brands globally.

The PNC Financial Services Group announced its quarterly earnings release schedule for 2023, including dates for the first, second, third, and fourth quarters. Key dates are April 14, July 18, October 13, and January 16, 2024, respectively. Live audio webcasts, presentation slides, and supplementary financial information will be available online. PNC is recognized as one of the largest diversified financial services institutions in the U.S., offering a wide range of banking, lending, wealth management, and asset management services.

PNC Financial Services has appointed Renu Khator, chancellor and president of the University of Houston System, to its board of directors effective May 10, 2022. Khator brings extensive experience in leadership, economic development, and funding for community programs. Under her leadership, the University of Houston achieved significant milestones, including record research funding and a $6.4 billion economic impact on the Greater Houston area. Her appointment strengthens PNC's commitment to diversity and high-performance governance.

Harris Williams advises STAXS on its sale to Franz Haniel & Cie. GmbH. STAXS, a key distributor of cleanroom consumables in the life science sector, has experienced notable growth across Europe. This acquisition aims to enhance Haniel’s CWS Cleanrooms, reinforcing its market position. Founded in 1995, STAXS operates from the Netherlands and Belgium, offering various high-quality cleanroom products. Silverfleet Capital, the current owner, has over 30 years of mid-market private equity experience. The transaction highlights Harris Williams' expertise in M&A advisory services within the healthcare and life sciences sectors.