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PNC Financial Sells Servicing Unit to Mellon
Posted on July 1st, 2010 No commentsPNC Financial Services Group Inc. has completed the $2.3 billion sale of its Global Investment Servicing Inc. to Bank of New York Mellon Corp., according to The Business Journal of Milwaukee. Pittsburgh-based PNC Financial runs 25 branches in the Milwaukee area and recently completed the conversion of those former National City branches to the PNC name.
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Economist: Recovery to Be Slower in Wisconsin
Posted on May 14th, 2010 No commentsThe foundation of the economy looks sound right now, especially after two months of job gains, said Craig Thomas, senior economist for Pittsburgh-based PNC Bank, speaking to local businesspeople in Milwaukee. The recovery in Wisconsin will come at a slower pace than the U.S. generally, he said. Read the Milwaukee Journal Sentinel story.
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Treasury Auctioning TARP Warrants
Posted on April 13th, 2010 No commentsThe U.S. Treasury Department plans to auction warrant positions in PNC Financial Services Group Inc., Wells Fargo & Co. and four other financial institutions that received government investments through the Troubled Asset Relief Program’s (TARP) Capital Purchase Program. The warrants will be sold over the next six weeks via public offerings. Read more in the Business Journal of Milwaukee.
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PNC Financial Names Wisconsin Exec
Posted on January 15th, 2010 No commentsNational City, now a part of Pittsburgh-based PNC Financial Services Group Inc., appointed A. James Baka as senior vice president for corporate banking in Wisconsin, according to the Milwaukee Small Business Times.
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Fed Asks Banks for TARP Repayment Plans
Posted on November 24th, 2009 No commentsTwo banks that operate in Wisconsin, PNC Financial Services Group Inc. and Wells Fargo & Co., are among the 19 banks that underwent government �stress tests� earlier this year and have been asked by the Federal Reserve to devise a plan to repay TARP money. Read more in the Milwaukee Business Journal.