PNC’s New CIO is Agitator-In-Chief
Investment boss Thomas Melcher pushes and broadens the bank’s product offerings
Originally posted on http://www.barrons.com/
By Abby Schultz
Values-based investing is now mainstream with a growing number of retail mutual funds and exchange-traded funds adopting some type of environmentally and socially responsible option. PNC’s strategists hadn’t ignored the trend, but no one within the group pushed for a “full-fledged integrated offer” articulating the bank’s rationale for how responsible investing can work in an investment portfolio. Now on the inside as CIO, Melcher is spearheading an effort to define what PNC asset management calls “responsible investing,” detailing how even clients with a $1 million or so can work with a PNC advisor to integrate this approach in a portfolio. “I was able to bring that over the finish line,” he says.
