PNC completes $11 6 billion acquisition of BBVA announces Alabama
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PNC Bank has named a new leadership team for Alabama following the company’s $11.6 billion acquisition of BBVA USA, and the bank says that Birmingham will become one of the combined company’s technology development centers. The purchase, the second-largest U. S. banking acquisition since the 2008 financial meltdown, was announced last November. BBVA has 89 locations in Alabama, while PNC currently has more than 50 branches. As a result of the merger, PNC will rank second in Alabama in deposit market share. BBVA USA, though based in Houston, kept a significant presence in Birmingham through its technology operations. In 2019 BBVA coordinated its Birmingham tech presence with operations in Mexico and Spain, developing cyber security and other needs for the company. In an announcement today, Nick Willis will continue in the role of regional president for Northern and Central Alabama. Willis joined PNC in 2012 and has served as a PNC regional president since 2017. Willis said that the company is “committed to evolving existing technology and investing in new ideas – and we expect our new Birmingham Technology Center will play a significant role in our ability to deliver on these commitments.”According to an announcement, the PNC Technology Center will provide the combined company with a larger technology footprint as well as “access to high-performing talent throughout the Southeast.” PNC currently operates technology hubs in several U. S. cities, including Pittsburgh and Cleveland. Along with Willis, other Alabama leadership positions include Rusty Shaw, market executive and head of commercial banking for PNC’s Gulf Coast market; Katie Sharon, market leader, commercial banking for PNC’s north and central Alabama regions; Andrea Smith, market director, PNC institutional asset management; Mark Taylor, market leader, corporate banking; Grey Yeager, market leader, wealth management. Louis R. Cestello, executive vice president and head of PNC’s Regional Markets, said the acquisition of BBVA “solidifies Birmingham’s reputation as an essential banking hub, and it puts us in a great position to leverage the combined strengths of our high-performing teams here to help us accelerate our national expansion into other key markets across country.“Over the next few months, we’ll continue to bring the best of both companies together, and draw on our mutual experience as industry leaders to deliver exceptional service and support to our local clients and communities across Alabama,” Cestello said. PNC said BBVA USA customer accounts will be converted to the PNC brand in October. Until conversion, customers will continue to be served through their respective BBVA USA and PNC branches, website and mobile apps.
All data is taken from the source: http://al.com
Article Link: https://www.al.com/business/2021/06/pnc-completes-116-billion-acquisition-of-bbva-announces-alabama-leadership.html
#pnc #newscnn #newstodaylocal #newsworldnow #newstodayinusa #cnnnewstoday #
Pnc Bank Money Market Deposit Accounts, PNC completes $11 6 billion acquisition of BBVA announces Alabama.
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PNC completes $11 6 billion acquisition of BBVA announces Alabama, Watch popular complete videos relevant with Pnc Bank Money Market Deposit Accounts.
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