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    Alexander E. C. Overstrom

    Head of Retail Banking at PNC Financial Services Group Inc
    Since July 2022
    Age
    41 years
    Tenure
    Joined in 2014 and served in various leadership roles, including Head of Small Business, Deputy Head of Retail Banking, Head of Merchant Services, and Chief Operating Officer of Corporate & Institutional Banking and Asset Management before being appointed Executive Vice President and Head of Retail Banking in July 2022.

    Also at PNC Financial Services Group Inc

    About

    Alexander E. C. Overstrom is a seasoned banking executive with a clear progression in his professional career at PNC. He joined the organization in 2014 and worked in several key leadership roles, demonstrating a strong commitment to the bank’s growth and innovation.

    Throughout his tenure at PNC, he has held roles such as Head of Small Business, Deputy Head of Retail Banking, Head of Merchant Services, and Chief Operating Officer of Corporate & Institutional Banking and Asset Management. His diverse experience within the bank provided a solid foundation for his later appointment as Executive Vice President and Head of Retail Banking in July 2022.

    While detailed personal background and educational credentials are not provided, his professional journey reflects a steady rise through the ranks, underlining his expertise in retail banking and financial services. This objective profile highlights his contributions and achievements within PNC.

    Past Roles

    OrganizationRoleDate RangeDetails
    PNCChief Operating Officer of Corporate & Institutional Banking and Asset Management N/AFormer role held prior to becoming Head of Retail Banking
    PNCHead of Merchant Services N/AFormer role
    PNCDeputy Head of Retail Banking N/AFormer role
    PNCHead of Small Business N/AFormer role
    Goldman SachsStrategy and Investment Banking Prior to 2014Role held before joining PNC

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$690,000 AnnualFixed base salary
    Registrant ISP Contributions$10,546 One-timeContributions as listed
    Insurance PremiumsNot applicable N/ANo insurance premiums paid
    Other CompensationNot applicable N/ANo additional compensation
    Deferred Compensation PlanNone N/ANo deferred compensation
    Qualified Pension Plan$77,964 N/APresent Value of Accumulated Benefit
    ERISA Excess Pension Plan$54,501 N/APresent Value of Accumulated Benefit
    Stock Vested in Fiscal 2024Not explicitly detailed N/ADetails not provided
    Restricted Share Units (RSUs)5,644 units, $840,109 Annual installments over 3 yearsGrant date fair value provided
    Senior Leader Restricted Share Units (SL RSUs)1,138 units, $219,463 Annual installments over 3 yearsMarket value provided
    3-Year RSUs962 units, $185,522 After three-year vesting periodMarket value provided

    Performance Compensation

    Data from  FY 2024

    Annual Cash Incentive

    MetricDetail
    Target Amount$1,550,000
    PaymentLump sum in 2025 based on performance evaluation
    Performance MetricsEvaluated on financial metrics including diluted EPS, ROE, and risk-adjusted efficiency ratio
    Vesting ScheduleNot applicable – cash incentive is paid based on annual performance

    Performance Share Units (PSUs)

    MetricDetail
    Grant DateFebruary 16, 2024
    Grant Date Fair Value$1,889,948
    Grant Date Stock Price$148.85
    Target Units8,465 PSUs
    Maximum Units12,697 PSUs (150% of target)
    Performance PeriodJanuary 1, 2024 to December 31, 2026
    Vesting ConditionsBased on annual evaluations of ROE and EPS growth; HR Committee may adjust awards downward based on risk review