The PNC Financial Services Group, Inc., announced on Wednesday that Augustine (Gus) Faucher will assume responsibility as Chief Economist effective immediately. Faucher succeeds Stuart G. Hoffman, who has served PNC for 37 years. Hoffman will transition to his new role as PNC’s Senior Economic Advisor.
"We are grateful for Stu's tremendous leadership and service at PNC that has positively positioned PNC with employees and customers, as well as business, civic and community leaders," William S. Demchak, PNC Chairman, President and CEO. "We look forward to Gus' leadership and insight that will help the company and our customers to navigate through the economic cycles moving forward."
Faucher joined PNC in 2011, and his most recent title was Deputy Chief Economist. Faucher will lead the Economics team and report to Gagan Singh, Chief Investment Officer of PNC Bank, N.A. He will be responsible for PNC's National Economic Outlook, Economic Releases, Market Expectations Survey, and Economic Outlook Survey of Small Business Owners reports. Faucher’s previous experience includes Moody's Analytics and the U.S. Treasury Department.