PNC Financial Services Appoints Jeff Hofmann to Drive Retail Lending Growth Amidst Stock Market Volatility

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PNC Financial Services (PNC) has appointed Jeff Hofmann as the head of its Retail Lending division. Hofmann, who brings over 25 years of experience, previously served as the head of the co-brand and business credit card divisions at Wells Fargo. He will be based in Philadelphia and report to Alex Overstrom, head of PNC’s Retail Bank. Hofmann's role will focus on driving business growth and enhancing client relationships through PNC’s diverse lending solutions, including consumer and business credit cards, auto lending, student lending, and personal loans.

Hofmann's extensive background in consumer and business lending, along with his strategic vision and customer-centric approach, is expected to strengthen PNC's market position and improve client services. Prior to his tenure at Wells Fargo, Hofmann spent over a decade at JPMorgan Chase, overseeing key lending and credit card portfolios. He began his career at MBNA and holds a bachelor’s degree in mathematics from the University of Pennsylvania.

Hofmann expressed his enthusiasm for joining PNC, highlighting the company's reputation for delivering high-quality products and services. He emphasized PNC's commitment to enhancing the client experience and introducing new solutions to support its growth strategy. PNC Bank, a member of The PNC Financial Services Group, Inc., is one of the largest diversified financial services institutions in the United States, offering a full range of retail and business banking services, specialized corporate services, and wealth management solutions.