PNC Bank has announced the appointment of Tim Ferriter as the head of its product, digital, and growth division within retail banking. Ferriter will report to Alex Overstrom, the head of retail banking, and will be based in Wilmington, Delaware.

In this new role, Ferriter will consolidate retail banking's product development, product management, digital, and payments teams into a unified organization focused on delivering seamless, customer-centric experiences to accelerate growth. His leadership will help advance the retail division's significant investment agenda, which prioritizes expanding customer acquisition, delivering new capabilities, and enhancing the quality of its products and user experiences.

Ferriter joins PNC from JPMorgan Chase, where he most recently served as head of digital, overseeing the Chase mobile application, online banking platform, and consumer-facing artificial intelligence (AI) strategy. During his tenure, he also led product teams responsible for JPMorgan's consumer and community banking customer acquisition platforms, contributing to increased engagement and growth across digital and branch channels.

Alex Overstrom, head of retail banking, stated that Tim is an accomplished leader with a proven track record of building innovative, data-driven digital and product experiences at scale. His extensive expertise in product development, digital, AI, and growth will help further enhance how customers interact with PNC across various channels. Ferriter expressed his enthusiasm, noting that PNC possesses a clear strategy and a unique, customer-focused culture. He looks forward to collaborating with the talented team to deliver differentiated experiences, drive growth, and strengthen customer relationships.

PNC Bank is a primary subsidiary of PNC Financial Services Group Inc, one of the largest diversified financial institutions in the United States, with a focus on retail and corporate banking. PNC recently completed its acquisition of FirstBank and continues to advance its technology investments, particularly in AI and automation. PNC's Chairman and CEO, Bill Demchak, previously indicated that the company expects a 10% increase in technology spending by 2026, with AI expenditures projected to grow by 20%.