“The Triangle is one of our highest growth markets. It has above-average household income, significant population growth, a diverse and talented workforce, and a strong business community.”
- Jim Hansen, PNC’s regional president for Eastern Carolinas
PNC Bank: Supporting the Region in Business and Beyond
The PNC Financial Services Group entered the Triangle market with its 2012 acquisition of RBC Bank (USA), quickly identifying the region as one of its priority growth markets. “The Triangle is one of our highest growth markets,” says Jim Hansen, PNC’s regional president for Eastern Carolinas. “It has above-average household income, significant population growth, a diverse and talented workforce, and a strong business community.”
PNC is among the nation’s largest diversified financial services organizations – providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.
PNC has added new teams and expanded existing ones based on the demand and opportunity in the region. The Triangle’s tech-savvy customer base has embraced PNC’s mobile banking tools and specialized cash flow management solutions for businesses. The company’s Wealth Management team has tripled in size to meet the financial planning and investment needs of the region’s affluent population. And, given the large base of national and international companies based here, PNC’s Corporate and Institutional Banking services – including its capital markets, foreign exchange and treasury management – are in high demand.
“PNC is helping businesses large and small expand regionally and globally,” says Hansen. “The Triangle and our Eastern Carolinas market are home to major corporations as well as small businesses that started here and continue to grow.”
PNC cites the Triangle’s quality-of-life as another key to its success. The company plays a major role in improving the community through its corporate citizenship and investments. Recognizing the social and economic benefits of arts and cultural amenities, for example, PNC supports a variety of film festivals, music festivals, the North Carolina Symphony, the North Carolina Opera and N.C. Theatre – just to name a few. PNC recently partnered with the News & Observer to launch ArtsNow, an online platform connecting the Triangle’s visual and performing artists, venues and audiences. The company jumped in to help the Greater Raleigh Convention and Visitors Bureau attract Wide Open Bluegrass, a festival that has generated over $20 million in economic impact.
Most visibly, the bank is the naming-rights sponsor of Raleigh’s PNC Arena, the 19,000-seat sports and entertainment venue that is a major economic engine hosting more than 150 events a year. The company also bears its name on the tallest building in downtown Raleigh, an area whose activity, development and job growth has boomed in recent years. “We support a number of downtown events and organizations, enabling our employees and the public to enjoy free concerts and festivals, which in turn generates further economic activity for the downtown business community,” Hansen says.
PNC’s signature philanthropy Grow Up Great focuses on improving early childhood education through leadership, advocacy, funding and volunteerism. In the Triangle, PNC brought together Carolina Ballet, the North Carolina Museum of Art and Wake County Public Schools to form a unique collaboration that exposes pre-school students to art and dance. “Research has shown that exposing young children to the arts significantly improves their ability to learn and to think creatively,” says Hansen. “Through PNC Grow Up Great, we provide thousands of preschool children across this region with access to the arts and sciences, preparing them for success in school and life.”
The company gives its employees 40 hours of paid time off each year to volunteer for Grow Up Great. In the last two years, PNC employees in this market volunteered more than 4,000 hours and personally donated thousands of books and supplies to early childhood centers.
“We have built relationships with many great organizations across the Triangle and North Carolina working to improve early childhood education and community development, which includes the arts and culture,” says Hansen. “By supporting these organizations with grants, partnership and volunteerism, we are making our communities even stronger and more attractive to families and businesses.”
PNC’s economic development leadership in the region has been equally visible. The bank was a top tier sponsor of the 2014 State of the Research Triangle Region Breakfast, which drew more than 900 participants from area companies, colleges and universities, community organizations and local governments.
“The annual State of the Region event is a valuable gathering of leaders, and PNC is proud to support it,” said Hansen, who serves on the board of directors of Research Triangle Regional Partnership (RTRP). “In addition to its role in convening regional executives, RTRP serves the region through its global branding and marketing initiatives.”