PNC Financial Services Names New Members To Executive Committee

Duo Brings Mixture Of Political, Civic Experience To Committee

Keith Griffin

July 8, 2020

Carole Brown and Richard Bynum PNC execs | Contributed

The PNC Financial Services Group Inc. announced the addition of two new members to its executive committee. Carole Brown will be head of PNC's Asset Management Group (AMG), and Richard K. Bynum will serve in the newly created role of chief corporate responsibility officer. Both executives will report to William S. Demchak, chairman, president and CEO.

Brown, who joined PNC in 2019 as chief change and risk officer for AMG and corporate & institutional banking (C&IB), will be responsible for leading PNC's wealth management and private banking services for high-net-worth and ultra-high-net worth individuals and families, as well as custom investment and advisory solutions for institutional clients. She succeeds Michael P. Lyons, who was instrumental in recruiting Brown to PNC. Lyons, also a member of PNC's executive committee, will continue to lead PNC's C&IB group.

Bynum, who has more than 15 years of experience at PNC, most recently as regional president of Greater Washington, will lead PNC community affairs and corporate social responsibility; community development banking; and diversity and inclusion. In his new role, Bynum also will be responsible for leading the implementation of PNC's recently announced $1 billion commitment to help end systemic racism and support the economic empowerment of African Americans and low- to moderate-income communities.

Brown, prior to joining PNC in August 2019, served as chief financial officer for the City of Chicago under Mayor Rahm Emanuel, assuming that role just as the city entered the greatest fiscal crisis in its 149-year history. During her four-year tenure that commenced in 2015, Brown worked closely with the mayor and his senior management team to develop and implement a series of financial reforms to restore financial stability to the city.

Bynum is an accomplished executive with nearly 20 years of executive leadership experience. He was named regional president of PNC in Greater Washington in 2017, previously serving as a member of PNC's retail executive team, where he led the company's business banking division. Prior to that, Bynum served as PNC's Greater Washington retail market executive, where he led consumer and small business sales; and also served as chief operating officer for PNC Business Banking, where he led the sales force operating platform for hundreds of small business bankers across PNC's footprint.

Bynum began his career with PNC in 2005 in its executive leadership program, holding key roles in the development and execution of revenue-driving businesses and initiatives; strengthening the brand; and enhancing engagement of employees while fostering innovation throughout PNC.

Bynum – who has been recognized as one of Washington, D.C.'s most influential business leaders by the Washington Business Journal – serves on the boards of numerous non-profit and civic organizations, including the corporate council for the Smithsonian National Museum of African American History & Culture; the Economic Club of Washington, D.C.; the Wolf Trap National Park for the Performing Arts; the Federal City Council; the Philip L. Graham Fund Foundation; the United Way – National Capital Area; and the Greater Washington Community Foundation.

The Greater Washington regional president role vacated by Bynum will be filled by D. Jermaine Johnson, executive vice president and market manager of corporate banking for PNC in Greater Washington and Greater Maryland, effective Aug. 1. Johnson brings 25 years of industry experience, including his current market role leading the large corporate, middle market, and government contracting segments. Throughout his career, Johnson has demonstrated a strong commitment to corporate growth and strategy, leading strategic partnerships and driving customer engagement.

Prior to joining PNC in 2005, Johnson held a number of leadership positions with increasing responsibility at Bank of America and GE Capital. He is a graduate of James Madison University, with a bachelor's degree in Finance. Johnson also is actively engaged in the community, serving as Treasurer for the Greater Washington Board of Trade, and as an Audit Committee member for the March of Dimes.

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