PNC Bank 2013 Annual Report Download - page 20

share of our customers’ financial assets, such as savings and
liquidity deposits, loans and investable assets, including
retirement assets. A strategic priority for PNC is to redefine
the retail banking business in response to changing customer
preferences. A key element of this strategy is to expand the
use of lower-cost alternative distribution channels while
continuing to optimize the traditional branch network. In
addition, we have a disciplined process to continually improve
the engagement of both our employees and customers, which
is a strong indicator of customer growth, retention and
relationship expansion.
Corporate & Institutional Banking provides lending, treasury
management, and capital markets-related products and
services to mid-sized and large corporations, government and
not-for-profit entities. 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, securities, loan syndications
and mergers and acquisitions advisory and related services to
middle-market companies. We also provide commercial loan
servicing, and real estate advisory and technology solutions,
for the commercial real estate finance industry. Products and
services are generally provided within our primary geographic
markets, with certain products and services offered nationally
and internationally.
Corporate & Institutional Banking is focused on becoming a
premier provider of financial services in each of the markets
we serve. The value proposition to our customers is driven by
providing a broad range of competitive and high quality
products and services by a team fully committed to delivering
the comprehensive resources of PNC to help each client
succeed. Our primary goals are to achieve market share
growth and enhanced returns by means of expansion and
retention of customer relationships and prudent risk and
expense management.
Asset Management Group includes personal wealth
management for high net worth and ultra high net worth clients
and institutional asset management. Wealth management
products and services include investment and retirement
planning, customized investment management, private banking,
tailored credit solutions, and trust management and
administration for individuals and their families. Institutional
asset management provides investment management, custody
administration and retirement administration services.
Institutional clients include corporations, unions, municipalities,
non-profits, foundations and endowments, primarily located in
our geographic footprint.
Asset Management Group is focused on being one of the
premier bank-held individual and institutional asset managers
in each of the markets it serves. The business seeks to deliver
high quality banking advice and trust and investment
management services to our high net worth, ultra high net
worth and institutional client sectors through a broad array of
products and services. Asset Management Group’s primary
goals are to service our clients, grow the business and deliver
solid financial performance with prudent risk and expense
management.
Residential Mortgage Banking directly originates first lien
residential mortgage loans, on a nationwide basis with a
significant presence within the retail banking footprint, and
originates loans through majority owned affiliates. Mortgage
loans represent loans collateralized by one-to-four-family
residential real estate. These loans are typically underwritten to
government agency and/or third-party standards, and sold,
servicing retained, to secondary mortgage conduits of Federal
National Mortgage Association (FNMA), Federal Home Loan
Mortgage Corporation (FHLMC), Federal Home Loan Banks
and third-party investors, or are securitized and issued under the
Government National Mortgage Association (GNMA) program,
as described in more detail in Note 3 Loan Sale and Servicing
Activities and Variable Interest Entities in Item 8 of this Report
and included here by reference. The mortgage servicing
operation performs all functions related to servicing mortgage
loans, primarily those in first lien position, for various investors
and for loans owned by PNC. Certain loan applications are
brokered by majority owned affiliates to others.
Residential Mortgage Banking is focused on adding value to
the PNC franchise by building stronger customer
relationships, providing quality investment loans and
delivering acceptable returns consistent with our desired risk
appetite. A strategic priority for PNC is to build a stronger
residential mortgage business offering seamless delivery to
customers while improving efficiencies. Our national
distribution capability provides volume that drives economies
of scale, risk dispersion and cost-effective extension of the
retail banking footprint for cross-selling opportunities.
BlackRock is a leader in investment management, risk
management and advisory services for institutional and retail
clients worldwide. BlackRock provides diversified investment
management services to institutional clients, intermediary
investors and individual investors through various investment
vehicles. Investment management services primarily consist of
the management of equity, fixed income, multi-asset class,
alternative investment and cash management products.
BlackRock offers its investment products in a variety of vehicles,
including open-end and closed-end mutual funds, iShares®
exchange-traded funds (ETFs), collective investment trusts and
separate accounts. In addition, BlackRock provides market risk
management, financial markets advisory and enterprise
investment system services to a broad base of clients. Financial
markets advisory services include valuation services relating to
illiquid securities, dispositions and workout assignments
(including long-term portfolio liquidation assignments), risk
management and strategic planning and execution.
2The PNC Financial Services Group, Inc. – Form 10-K