Bill Demchak is putting his money where his mouth is.
When Euromoney spoke to the chief executive of PNC Financial Services this summer, in the wake of the group’s disposal of its 22% stake in asset manager BlackRock, it was obvious he was looking around for strategic ways to deploy the $11.1 billion that the sale added to the bank’s war chest after tax.
And given that everything Demchak has done since taking the helm of PNC in 2013 has been geared around a strategy that could be summed up as ‘be national’, Monday’s announcement by the bank of a $11.6
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