The PNC Financial Services Group announced that is created the new role of Chief Corporate Responsibility Officer, assigning the position to Richard K. Bynum, as part of a series of new executive appointments. PNC also announced that it has promoted Carole Brown as Head of the firm’s Asset Management Group (AMG).
The creation of this new role at PNC continues a trend in U.S. financial institutions, and enterprises worldwide, of increasing mindfulness regarding sustainability issues and social responsibility. In his new position, Bynum will lead PNC Community Affairs and Corporate Social Responsibility; Community Development Banking; and Diversity and Inclusion. He will also be responsible for leading the implementation of PNC’s recently announced $1 billion commitment to help end systemic racism and support the economic empowerment of African Americans and low- to moderate-income communities.
PNC Chairman, President and Chief Executive Officer William S. Demchak said:
“PNC is fortunate to have an excellent team of senior executives leading our company during these complex and challenging times. As we continue to drive PNC forward from a position of strength, we are thrilled to further enhance our leadership through the appointment of Carole and Richard to our executive team.”
Commenting on Bynum and the new role of Chief Corporate Responsibility Officer, Demchak continued:
“As a senior leader in our bank, Richard fully understands and embodies the importance PNC places on fulfilling our commitments to our clients, communities and employees. In this new role, he will drive meaningful change that will allow us to even better serve our communities and strengthen PNC as a whole. Though we are proud of the work PNC has done to date to drive economic empowerment and racial equality, we know we must do more at this pivotal moment, and I am confident that Richard will be instrumental as we accelerate our progress.”
Bynum has been with PNC for nearly 15 years, joining in 2005 in its Executive Leadership Program.He has hel a number of key roles at the bank, including Executive Vice President, Head of Business Banking, and was most recently President – Greater Washington & Virginia. Prior to joining PNC, Bynum served as a senior leader with the American Red Cross. His 12-year tenure included roles as the managing director for disaster response and emergency communications for the organization’s Chicago chapter and as an operations director for the Kosovo Refugee Operation and September 11th effort in New York.
Bynum – who has been recognized as one of Washington, D.C.’s most influential business leaders by the Washington Business Journal – serves on the boards of numerous non-profit and civic organizations, including the corporate council for the Smithsonian National Museum of African American History & Culture; the Economic Club of Washington, D.C.; the Wolf Trap National Park for the Performing Arts; the Federal City Council; the Philip L. Graham Fund Foundation; the United Way – National Capital Area; and the Greater Washington Community Foundation.
Bynum holds an MBA from the Northwestern University Kellogg School of Management and an undergraduate degree in Political Science from Florida State University, and is a graduate of the Consumers Bankers Association Graduate School of Retail Bank Management.