Karen Larrimer, head of retail banking and chief client officer at PNC, will retire right after extra than 27 many years with the bank. Larrimer will stay as the bank’s chief consumer officer via the conclusion of 2022 and changeover out of her role as head of retail banking on July 1. Alex Overstrom, PNC’s latest head of smaller company and deputy head of retail banking, will presume accountability for leading PNC’s retail banking line of organization.
Larrimer has led PNC’s retail banking enterprise since July 2016, pursuing her appointment to main buyer officer in 2014. Prior to that, she held quite a few govt positions at PNC, together with main advertising officer, govt vice president for enterprise banking and management roles in just treasury administration. Prior to becoming a member of PNC, Larrimer was an assistant director for Ernst & Young and served as a vice president in company banking at Mellon Bank.
“I am individually grateful to Karen for her leadership during my time as CEO,” William S. Demchak, chairman, president and CEO of PNC, said. “She is an excellent govt and banker whose guidance and insights have benefitted the lender and our consumers in a lot of ways. She has played an instrumental function in PNC’s expansion, and she has driven important initiatives that were squarely targeted on strengthening PNC’s retail choices and our customers’ satisfaction. She will be missed, and I desire her all the most effective in her future chapter.”
For the duration of her tenure at PNC, Larrimer, as the head of retail banking, led PNC’s digital growth, the creation of remedy facilities in PNC’s growth markets and a number of rebranding initiatives by acquisitions. She also led the launch of Minimal Income Mode previous 12 months, which represented a go to tackle overdraft costs and the dissatisfaction they trigger for consumers. As PNC’s very first chief shopper officer, Larrimer also set up the office environment of the consumer, led quite a few initiatives intended to make improvements to the bank’s customers’ expertise and rolled out an analytical measurement instrument to gauge worker and client satisfaction.
Throughout her occupation, Larrimer has been acknowledged by way of quite a few honors and awards, which includes staying named just one of the Most Strong Ladies in Banking by American Banker for seven consecutive yrs (2015 to 2021) and getting the Lady Scouts of America Award of Difference in Business enterprise (2013). She was named a “Mother of the Year” by Working Mom magazine (2010), designated a “Women Worthy of Watching” by Variety Journal magazine (2009) and named just one of the Greatest 50 Women of all ages in Organization in Pennsylvania (2003).
As the new head of retail banking at PNC, Overstrom will report instantly to Demchak. Overstrom has been with PNC for virtually eight years, through which time he has served in a variety of roles, which includes head of service provider expert services, chief running officer of company and institutional banking and asset management, and head of aviation finance.
In addition to his business management roles throughout PNC, Overstrom has aided guide a number of initiatives for the bank, which includes the organization integration and conversion of BBVA Usa, through which PNC signed, closed and converted 2.6 million buyers, 9,000 staff and nearly 600 branches in significantly less than 1 year. Overstrom joined PNC in 2014 from Goldman Sachs, exactly where he labored in technique and expenditure banking.