PNC Wealth Management

PNC Wealth Management is a division within the bank's Asset Management Group (AMG), which also includes PNC Capital Advisors — the institutional investment-management subsidiary — and the OCIO/retirement-plan fiduciary practice. Since 2022, Carole Brown has led the entire AMG as a unit that reports to the bank's chief financial officer, meaning wealth management sits inside the same C-suite vertical as the balance-sheet and institutional franchises rather than operating as a standalone subsidiary.

The group employs a barbell model: it commits client capital to external private-market funds from firms such as Blackstone and Carlyle for diversified exposure, while also offering direct co-investment and private-credit placements originated through PNC's own banking platform. This dual-sourcing architecture lets client portfolios hold both blind-pool fund interests and individually-negotiated credit instruments inside the same custodied account structure.

Carole Brown serves as the executive head of the Asset Management Group with overall strategic authority over investment programs, reporting to PNC's CFO. Beneath her, the Chief Investment Officer for AMG sets asset-allocation policy and manager-selection frameworks that cascade across the wealth-management, institutional, and OCIO lines. Individual client portfolios are implemented by regional wealth directors and investment advisors governed by those house model portfolios.

PNC's trust charter dates to 1847 and remains one of the oldest continuous trust operations in the United States. The group administers tens of thousands of personal trusts alongside family foundations, special-needs trusts, and generation-skipping structures, all underwritten by the bank's $560 billion parent balance sheet. Exact trust-asset totals are not disclosed, but the division is large enough to maintain a dedicated national trust committee and in-house fiduciary counsel.