Karen Larrimer, PNC Financial Services Group Inc.’s head of retail banking, to retire
Karen Larrimer, head of retail banking because 2016 at PNC Economic Solutions Group Inc., is retiring, Pittsburgh’s major bank claimed on Thursday.
Successful July 1, Alex Overstrom, PNC’s present-day head of modest business and deputy head of retail banking, will believe obligation for main the line of small business.
Larrimer will continue being in her other put up as the bank’s main consumer officer as a result of 2022. She experienced been appointed to the posture, a very first at PNC (NYSE: PNC), in 2014.
During her 27-yr profession at the financial institution, she held numerous positions, such as main advertising and marketing officer and govt vice president for business banking. American Banker for quite a few several years has rated Larrimer amongst the most impressive girls in banking, and she is deeply associated in the Pittsburgh community. She also was named a Electricity 100 by the Pittsburgh Enterprise Moments.
“I am individually grateful to Karen for her management in the course of my time as CEO,” William Demchak, PNC chairman, president and CEO, said in a well prepared assertion. “She is an fantastic executive and banker whose guidance and insights have benefitted the financial institution and our consumers in numerous means. She has played an instrumental purpose in PNC’s growth, and she has pushed critical initiatives that have been squarely focused on improving upon PNC’s retail choices and our customers’ pleasure. She will be missed, and I want her all the best in her upcoming chapter.”
For the duration of her tenure at PNC, Larrimer led a lot of major plans and jobs that have helped position the lender as a national competitor. As the head of retail, she led PNC’s digital enlargement, the development of option centers in its enlargement marketplaces and many rebranding attempts by means of acquisitions. She also led the 2021 launch of Reduced Hard cash Mode, which represented the industry’s 1st significant move to tackle overdraft service fees and the dissatisfaction they bring about for consumers.
As PNC’s to start with chief purchaser officer, Larrimer set up the Place of work of the Client, led various efforts made to improve the bank’s customers’ practical experience and rolled out an analytical measurement device to gauge personnel and purchaser fulfillment.
Overstrom, who joined PNC virtually 8 several years ago from Goldman Sachs, has served in a wide range of roles, which includes head of merchant products and services, COO of corporate and institutional banking and asset management and head of aviation finance. Overstrom also led the organization integration and conversion of BBVA United states, which PNC acquired final year for $11.6 billion, using its presence from coastline to coast.