PNC Bank 2007 Annual Report Download - page 120

B USINESS S EGMENT P RODUCTS A ND S ERVICES
Retail Banking provides deposit, lending, brokerage, trust,
investment management, and cash management services to
approximately 2.9 million consumer and small business
customers within our primary geographic markets. Our
customers are serviced through over 1,100 offices in our
branch network, the call center located in Pittsburgh and the
Internet – www.pncbank.com. The branch network is located
primarily in Pennsylvania, New Jersey, Washington, DC,
Maryland, Virginia, Ohio, Kentucky and Delaware. Brokerage
services are provided through PNC Investments, LLC, and
Hilliard Lyons. See Note 2 Acquisitions and Divestitures
regarding our planned divestiture of Hilliard Lyons in the first
half of 2008.
Retail Banking also serves as investment manager and trustee
for employee benefit plans and charitable and endowment
assets and provides nondiscretionary defined contribution plan
services. These services are provided to individuals and
corporations primarily within our primary geographic markets.
Corporate & Institutional Banking provides lending, treasury
management, and capital markets-related products and
services to mid-sized corporations, government entities, and
selectively to large corporations. Lending products include
secured and unsecured loans, letters of credit and equipment
leases. Treasury management services include cash and
investment management, receivables management,
disbursement services, funds transfer services, information
reporting, and global trade services. Capital markets-related
products and services include foreign exchange, derivatives,
loan syndications, mergers and acquisitions advisory and
related services to middle-market companies, securities
underwriting, and securities sales and trading. Corporate &
Institutional Banking also provides commercial loan servicing,
real estate advisory and technology solutions for the
commercial real estate finance industry. Corporate &
Institutional Banking provides products and services generally
within our primary geographic markets, with certain products
and services provided nationally.
BlackRock is one of the largest publicly traded investment
management firms in the United States with $1.357 trillion of
assets under management at December 31, 2007. BlackRock
manages assets on behalf of institutional and individual
investors worldwide through a variety of fixed income, cash
management, equity and balanced and alternative investment
separate accounts and funds. In addition, BlackRock provides
risk management, investment system outsourcing and
financial advisory services globally to institutional investors.
At December 31, 2007, PNC’s ownership interest in
BlackRock was approximately 33.5%.
PFPC is a leading full service provider of processing,
technology and business solutions for the global investment
industry. Securities services include custody, securities
lending, and accounting and administration for funds
registered under the 1940 Act and alternative investments.
Investor services include transfer agency, managed accounts,
subaccounting, and distribution. PFPC serviced $2.5 trillion in
total assets and 72 million shareholder accounts as of
December 31, 2007 both domestically and internationally
through its Ireland and Luxembourg operations.
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