Wilmington, Delaware-based PNC Financial Services Group has announced that its PFPC fund administration business has been renamed PNC Global Investment Servicing.
Wilmington, Delaware-based PNC Financial Services Group has announced that its PFPC fund administration business has been renamed PNC Global Investment Servicing. ‘Our new name reflects PNC’s investment in our business and illustrates its commitment to our shared vision for growth,’ says chairman Timothy G. Shack. ‘It also affirms that PNC provides a comprehensive range of financial services worldwide.’
In Europe, PFPC International, which services hedge funds from offices in three Irish locations and Luxembourg (the group also has an operation in the Cayman Islands), will now operate as PNC Global Investment Servicing (Europe) and PFPC Bank as PNC International Bank.
AdvisorPort, Albridge Solutions and Coates Analytics will retain their respective naming architecture as PNC companies, while PFPC Distributors and PFPC Trust Company will continue doing business under their current names.
‘This new brand reinforces our continuing strategy to evolve our business model,’ says PNC Global Investment Servicing chief executive Stephen M. Wynne. ‘We have retained our leadership position within the U.S. processing business and expanded our international operations. Recently we added new and unique business intelligence and analytics services that allow us increasingly to serve as an information provider as well as an information processor.’
PNC Global Investment Servicing is a provider of processing, technology and business intelligence services to asset managers, broker/dealers and financial advisors worldwide, offering fund accounting and administration, custody, transfer agency, sub-accounting, managed account and wealth management reporting services to clients with more than USD2.6trn in total assets.
The PNC Financial Services Group is a diversified financial services organisation providing retail and business banking in the US, specialised services for corporations and government entities, including corporate banking, real estate finance and asset-based lending, wealth management, asset management and global investment services.