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PNC Private Bank Hawthorn
PNC Private Bank Hawthorn launched in 1997 as the dedicated multi-family office arm of The PNC Financial Services Group. Annamaria Vitelli leads the...
PNC Private Bank Hawthorn
PNC Private Bank Hawthorn launched in 1997 as the dedicated multi-family office arm of The PNC Financial Services Group. Annamaria Vitelli leads the Philadelphia-headquartered practice, which emerged from the bank's legacy wealth management and trust operations rather than a single family's liquidity event. The vehicle serves families by connecting them to the parent bank's balance sheet and advisory capabilities while maintaining a boutique family-office posture. Hawthorn's investment menu spans hedge funds, real estate, and direct private-market access via the bank's institutional platforms. The group confirmed an early move into direct Bitcoin access alongside conventional alternatives. Asset-class coverage includes commercial real estate — exemplified by holdings in the Tower at PNC Plaza and 1600 Market Street — and ESG-tagged strategies. Geographic focus remains concentrated in North America. The structure blends fund commitments with direct co-investment and bespoke separate accounts, drawing on PNC's internal manager selection and due-diligence teams. The practice participates in the Family Office Exchange (FOX) network, placing it among peer family offices that share diligence and deal flow. Adjacent vehicles include the Hawthorn Institute for Family Success, led by Emily Bouchard, which handles governance, family dynamics, and next-generation education, and a philanthropy and impact arm under Avery Fontaine. PNC's broader philanthropic footprint includes the PNC Foundation and the PNC Arts Alive initiative, although Hawthorn's direct deployment figures remain undisclosed. Hawthorn's structural differentiator is its institutional parent: few multi-family offices can route client capital through a top-10 U.S. bank's investment platform, custody network, and credit capabilities without sacrificing the dedicated family-office relationship layer. This architecture gives Hawthorn-family clients access to bank-originated deal flow and lending facilities that standalone multi-family offices cannot replicate.
General information
Firm type
Multi Family Office
Year founded
1997
Location
Region
North America
Country
United States
City
Philadelphia
Corporate office
Philadelphia, PA, United States
Principals
Annamaria Vitelli
Head of PNC Private Bank Hawthorn
William S. Demchak
Chairman and CEO, The PNC Financial Services Group
Emily Bouchard
Head of Hawthorn Institute for Family Success
Avery Fontaine
Head of Philanthropy & Impact
Sector focus
Frequently asked questions
Who runs investment decisions at PNC Private Bank Hawthorn?
Annamaria Vitelli serves as Head of PNC Private Bank Hawthorn. Investment decisions draw on the parent bank's institutional asset management, manager research, and due-diligence teams, giving Hawthorn clients access to a platform that extends well beyond a standalone family office's typical resources.
How does Hawthorn source deal flow?
Hawthorn leverages PNC's institutional relationships and its membership in the Family Office Exchange (FOX) network. The bank's capital-markets and private-placement desks originate deal flow, while FOX membership enables co-investment conversations with other family offices.
Is Hawthorn a single-family office or a multi-family office?
Hawthorn is a multi-family office. It was founded in 1997 inside The PNC Financial Services Group to serve multiple ultra-high-net-worth families, not a single founding family.
Does Hawthorn participate in fund commitments or only direct deals?
Hawthorn engages in both fund commitments and direct investments. Its reported investment types include hedge funds and real estate, and the group has confirmed direct access to assets such as Bitcoin, indicating a hybrid approach across funds and direct co-investment.
How is Hawthorn related to the PNC Foundation and PNC Arts Alive?
Hawthorn operates alongside but separately from PNC's philanthropic entities, the PNC Foundation and PNC Arts Alive. Hawthorn's own philanthropy and impact practice, led by Avery Fontaine, advises client families on their charitable strategies, distinct from the bank's corporate philanthropy.
What non-investment services does Hawthorn provide?
Hawthorn houses the Institute for Family Success, which addresses family governance, succession, and next-generation education. This sits alongside core investment consulting, fiduciary administration, and private banking — forming an integrated service model under one roof.
What is Hawthorn's posture on co-investments alongside external GPs?
Hawthorn's model favors co-investment through PNC's institutional platform and FOX network connections rather than leading direct private-equity rounds as a standalone GP. Specific co-investment mandates have not been publicly detailed.
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