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Pittsburgh-based PNC Bank is expanding its presence in the Boston market.
Jon Bernstein was appointed regional president for the city, the bank said in a statement yesterday. Bernstein brings nearly 25 years of experience to PNC, including stints as a managing director at Barclays, a half dozen years as a private equity investor, as well as corporate development and investment banking spanning Morgan Stanley, A.G. Edwards and Credit Suisse Group.
The appointment of Bernstein is part of a broader plan PNC announced last July to introduce its regional leadership model to Boston.
While PNC doesn’t have any retail branches, the $380 billion-asset institution does have a significant corporate and institutional banking business in Boston. The company also said along with the announcement about Bernstein that it is planning to expand its management team in Boston, with the addition of a client and community relations director to deepen PNC’s community involvement and visibility in the region.
“We’ve seen great success already in Boston with our national businesses, and are optimistic about the opportunities the implementation of our regional president model will present for continued growth – both on business and civic fronts,” Louis R. Cestello, executive vice president and head of PNC’s regional markets, said in a statement. “Jon is an experienced banker with deep ties in Boston. His industry expertise and connection to the community makes him an ideal leader to spearhead PNC’s efforts to expand our relationships in the market even further.”
