Citi Bolsters Tech Banking with Ric Spencer as New Vice Chair
PNC Bank has appointed Ric Spencer as vice chair of technology investment banking, aiming to bolster its global internet coverage and capture more share in strategic activity.
PNC ranked fifth in global investment banking revenues in 2025, with US$3.59 billion and a 4.8% share. This appointment is part of the bank's ongoing series of hires to strengthen its position.
Ric Spencer, based in San Francisco, will work closely with Liz Milonopoulos to expand PNC's global internet coverage. He reports to Mark Keene, head of technology investment banking. Spencer's expertise will help PNC tap into the convergence of digital media and technology, a strategic growth area.
Spencer joins PNC from Morgan Stanley, where he previously worked. His appointment underscores PNC's commitment to investing in talent to drive growth in the technology sector.
PNC's appointment of Ric Spencer as vice chair of technology investment banking signals its intent to expand its global internet coverage and capture a larger share of strategic activity in the technology sector.
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