Megan Brooks
PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. It is one of the largest banks in the US by assets, branches, deposits, and number of ATMs. PNC offers a range of retail and commercial banking, residential mortgage lending, and asset management services. As of 2021, PNC Financial Services Group employed 59,426 people, an increase of 15.94% from the previous year. The company's employees have reported receiving benefits such as paid sick days, paid vacation days, and parental leave.
| Characteristics | Values |
|---|---|
| Total number of employees in 2021 | 59,426 |
| Number of branches | 2,629 |
| Number of ATMs | 9,523 |
| Number of current and former employees surveyed by Indeed's Work Happiness survey | 4,828 |
| Number of current and former employees surveyed by Indeed's paid sick days survey | 4,311 |
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What You'll Learn
- PNC Financial Services Group's total number of employees in 2021 was 59,426
- PNC Bank operates in 27 states and Washington, D.C
- PNC offers retail banking, corporate and institutional banking, and asset management
- PNC's history traces back to the Pittsburgh Trust and Savings Company, founded in 1845
- PNC's competitors include Bank of America and Chase Bank
PNC Financial Services Group's total number of employees in 2021 was 59,426
The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation. It is one of the largest banks in the US by assets and number of branches, ATMs, and deposits. PNC Financial Services Group offers retail banking, corporate and institutional banking, asset management, and residential mortgage banking across the United States. As of 2021, the company had 59,426 employees, representing a 15.94% increase from 2020. This number includes employees across the company's diverse business segments and its expansive network of branches and offices.
PNC Financial Services Group operates through three main segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group. The Retail Banking segment serves consumer and small business customers, offering a range of financial products and services, including checking and savings accounts, loans, credit cards, and investment services. This segment utilizes a network of branches, digital channels, ATMs, and phone-based customer contact centers to reach its clients.
The Corporate & Institutional Banking segment caters to mid-sized and large corporations, government entities, and not-for-profit organizations. It provides a suite of services such as secured and unsecured loans, cash and investment management, international payment services, and commercial loan servicing. This segment also offers capital markets advisory and merger and acquisition services.
The Asset Management Group segment, on the other hand, focuses on high net worth and ultra-high net worth individuals and their families. It provides investment and retirement planning, customized investment management, credit and cash management solutions, and trust management services. This segment also offers multi-generational family planning services, catering to the unique needs of its clientele.
PNC Financial Services Group's employee count of 59,426 in 2021 reflects the company's significant presence and scope of operations across the United States. This number encompasses the diverse talent and expertise required to deliver a broad range of financial products and services to the company's varied client base. The company's history of expansion, including mergers, acquisitions, and the establishment of new markets, has likely contributed to its substantial employee base.
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PNC Bank operates in 27 states and Washington, D.C
PNC Bank, a subsidiary of PNC Financial Services Group, operates in 27 states and Washington, D.C. The bank's history can be traced back to the Pittsburgh Trust and Savings Company, founded in 1845 in Pittsburgh, Pennsylvania. Over the years, PNC has grown and expanded through mergers and acquisitions, including the significant 1982 merger with Provident National Corporation, which created a company with $10.3 billion in assets. PNC currently has a large presence across the country, with 2,629 branches and 9,523 ATMs, making it one of the largest banks in the US by assets and number of branches, deposits, and ATMs.
PNC offers a diverse range of financial services, including retail banking, corporate and institutional banking, asset management, and residential mortgage banking. The bank serves consumer and small business customers, providing various services such as checking and savings accounts, loans, credit cards, investment services, and insurance. PNC also provides financial services such as asset management, wealth management, estate planning, and loan servicing.
The bank has expanded into new markets through its Solution Centers, a hybrid of traditional branches and ATM-only services. This strategy has allowed PNC to enter markets such as Boston, Denver, Nashville, and several cities in Texas. PNC's acquisition of BBVA USA in 2021 further boosted its presence in states like Colorado, Texas, Alabama, and Florida.
PNC's diverse operations and wide geographic reach have resulted in a substantial employee base. While an exact number of current employees was not found, Indeed.com surveys indicate that they have at least 4,311 current and former employees, with another source stating that the total number of employees in 2021 was 59,426, a 15.94% increase from 2020.
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PNC offers retail banking, corporate and institutional banking, and asset management
The PNC Financial Services Group, Inc., is an American bank holding company and financial services corporation. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs. PNC is one of the largest banks in the US by assets and in terms of the number of branches, deposits, and ATMs.
Retail Banking
PNC offers personal banking services, including mobile banking, virtual wallet services, escrow, and adjustable-rate mortgages. PNC does not charge a fee for mobile banking, although standard data and text messaging rates may apply. PNC also offers a mobile deposit feature, which requires a supported camera-equipped device and the PNC mobile banking app.
Corporate and Institutional Banking
PNC provides financial solutions and insights for businesses, municipalities, and nonprofits throughout the US and internationally with revenues over $5 million. PNC's Business Banking team also serves organizations with annual revenues under $5 million. For organizations with revenues above this threshold, PNC offers strategic support with mergers and acquisitions, initial public offerings, and investor relations. PNC also helps businesses obtain capital through revolving credit facilities, term loans, equipment financing, and asset-based securitizations.
Asset Management
PNC Institutional Asset Management® (PNC IAM) provides investment solutions for institutional investors, such as Native American tribes. PNC IAM offers directed trustee, custody, sub-accounting, and pension payment services. PNC's custody team provides security settlement, portfolio administration, and pension payment services. PNC also offers a comprehensive platform for managing multiple pooled investment accounts, helping to reduce investment and administrative costs.
Through PNC Capital Advisors, LLC (PCA), a registered investment advisor and wholly owned subsidiary of PNC Bank, the company offers fixed-income separately managed accounts tailored to clients' unique objectives. PNC's Weekly Market Watch provides a recap of economic and market activity from the previous week, offering insights into US and international markets.
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PNC's history traces back to the Pittsburgh Trust and Savings Company, founded in 1845
The history of PNC Financial Services, a diversified financial services company, can be traced back to the Pittsburgh Trust and Savings Company, founded on April 10, 1845, and based in Pittsburgh, Pennsylvania. Due to the long recovery from the Great Fire of Pittsburgh, the Pittsburgh Trust and Savings Company was not fully operational until January 28, 1852, when it opened its offices at Liberty Avenue and 12th Street. The bank was renamed The Pittsburgh Trust Company in 1853 and relocated its corporate offices to Fifth Avenue and Wood Street in 1858, where its headquarters remain.
In 1863, the bank changed its name to the First National Bank of Pittsburgh, becoming the first bank in the country to apply for a national charter under the National Banking Act. It received the 48th charter, with other later banks receiving charters sooner due to paperwork problems. Another branch of the current bank, the Philadelphia-based Provident National Corporation, dates back to 1865.
In 1982, the Pittsburgh National Corporation and the Provident National Corporation, both abbreviated as PNC, merged into a new entity called the PNC Financial Corporation, with $10.3 billion in assets, the largest bank merger in American history at the time. PNC continued to expand by purchasing several smaller banks and financial institutions between 1991 and 1996, including the $30 billion merger with Midlantic Bank of Edison, New Jersey, in 1996, broadening its market base from Kentucky to the New York metropolitan area.
Today, PNC Bank operates in 27 states across the US and has a significant presence in several major cities. It is one of the largest banks in the country by assets, branches, deposits, and the number of ATMs. PNC offers a wide range of financial services, including retail and commercial banking, residential mortgage lending, asset management, wealth management, estate planning, loan servicing, and information processing. The company serves consumer and small business customers through various channels, including branches, digital platforms, ATMs, and phone-based customer contact centres.
As of 2021, PNC Financial Services employed 59,426 people, a 15.94% increase from the previous year. Surveys conducted by Indeed.com provide insight into the experiences and perspectives of PNC employees. In one survey, 4,828 current and former employees were asked about their compensation, with 32% agreeing or strongly agreeing that they were paid fairly. Another survey of over 4,300 respondents focused on paid time off, with 51% agreeing or strongly agreeing that it was easy to request. Additionally, 89% of respondents stated that their paid sick days reset each year, and they received 10-20 days of paid vacation time.
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PNC's competitors include Bank of America and Chase Bank
PNC Financial Services Group, Inc., is a US-based bank holding company and financial services corporation. Its subsidiary, PNC Bank, operates in 27 states and Washington, D.C., with 2,629 branches and 9,523 ATMs. PNC Bank is one of the largest banks in the US by assets and number of branches, deposits, and ATMs.
PNC has approximately 61,500 employees, a significant increase from 59,426 in 2021. The company has expanded rapidly in recent years, acquiring several smaller banks and financial institutions. PNC's competitors include Bank of America and Chase Bank, two of the "Big Four" competitors. These banks have been expanding into new markets, including PNC's home market of Pittsburgh.
Bank of America is one of PNC's top rivals and operates in the same Retail & Business Banking sector. It has 155,500 more employees than PNC. Bank of America has a higher customer rating for pricing and customer service, and its CEO, Brian Moynihan, is ranked higher than PNC's CEO, William Demchak, by employees of both companies. Bank of America was founded in 1998 and is headquartered in Charlotte, North Carolina.
Chase Bank is another one of PNC's "Big Four" competitors. In 2012, PNC ranked below Chase as the sixth-largest bank by total assets. Chase has a higher ranking in customer net promoter scores than PNC.
In addition to Bank of America and Chase Bank, PNC's competitors include Wells Fargo, SunTrust, Citi, U.S. Bank, M&T Bank, and BB&T Corporation. Wells Fargo is perceived as one of PNC's biggest rivals, as they operate in similar fields and Wells Fargo has a significantly larger number of employees.
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Frequently asked questions
As of 2021, PNC Financial Services Group had 59,426 employees, a 15.94% increase from 2020.
It is based in Pittsburgh, Pennsylvania, and operates in 27 states and the District of Columbia.
It is a diversified financial services company offering retail banking, corporate and institutional banking, asset management, and residential mortgage banking.
Employees receive paid sick days, paid vacation days, and parental leave. 51% of employees agree that it is easy to request paid time off.
According to a survey, 32% of respondents said they strongly agreed or agreed that they are paid fairly. 59% of respondents receive overtime pay, and most employees reported receiving annual pay raises.
