PNC Financial Services Group Inc. has been building its business in L.A. for several decades, according to Regional President Todd Wilson. He said the company has significantly expanded its presence in the market over the last two years. PNC’s acquisition of the U.S. subsidiary of the multi-billion financial services company BBVA has created a number of opportunities throughout California, Wilson said, leading to staff growth and the expansion of most lines of business. The bank has increased investments in three key areas: women’s business advocacy, early childhood education and community investment.
How have you helped direct the bank’s local long-term strategies?
The Office of the Regional President model is key to how PNC delivers our commitment to customers, clients and communities. Our local team is rooted in Greater Los Angeles, making decisions at the local level to best support our stakeholders, and I serve as the local executive, leading and building our team.
We believe employees are our greatest asset, which means creating a welcoming environment that fosters collaboration, knowledge-sharing and ideation is of primary importance, as is building a culture based on our core values, where people feel included, valued and respected.
PNC has a strong track record of culture building, as is evident by the recognition our company has received, including Best-of-the-Best Corporation for Inclusion, Best Places to Work for LGBTQ+ Equality, and 50 Out Front: Best Places to Work for Women and Diverse Managers.
Building relationships with customers and the community is at the core of our business. PNC has been in Los Angeles for several decades through legacy business lines. I am excited by the significant progress we have made in building out additional business lines servicing businesses in the commercial, middle market and large corporate spaces.
Can you tell us about your work in the finance industry prior to joining PNC? How has that experience shaped your executive strategy?
I spent 25 years in the private equity industry and as a C-level executive at an operating business. As an investor and operator, I learned what truly drives company success, which summed up is: people, product and plan.
People are critical to your business, whether it’s employees, customers, stakeholders, etc. What differentiates top companies from their peers are those who successfully build genuine, authentic relationships with their people. People want to do business with people they know, like and trust. When people trust you, then you gain a whole new level of connectivity that opens the door to truly being able to assist people and businesses in discovering new ways to approach their work. I enjoy helping people reach the moment when that proverbial lightbulb is illuminated.
The product or service is the lifeblood of your business. It is your revenue stream. When you have a great product or service concept to meet a need in the marketplace, what do you do next? I have experienced the challenges and triumphs in running a business and securing capital. Specifically, I have seen the challenges that women and minorities experience. I am passionate about helping these businesses by sharing my knowledge and network.
Your plan is your GPS for where you want to go with your business. While this may evolve and change over time, it is necessary to guide your people and product or service.
What trends in the finance industry should more people be paying attention to? Why is it important?
Consumer preferences are continuing to evolve, and we need to meet customers where they are to address their needs. Some things don’t change, and at the end of the day, banking is a relationship business, and we remain focused on growing the business one conversation at a time in Greater Los Angeles.
What are some greater economic developments that are impacting or could impact PNC in the near future? How is the bank preparing for or handling these challenges?
PNC has a 170-year history in the financial services industry and a long track record of strong, through the cycle performance. That positions us well to support customers across our coast-to-coast footprint in the current environment — and going forward.
What is next for your firm?
Greater Los Angeles is a key market for PNC, and I am excited to be leading the growth in this important region. We look forward to becoming more entrenched in the priorities of Los Angeles and collaborating to positively impact individuals and businesses.