Pittsburgh-based PNC Capital Markets LLC recently announced its subsidiary PNC FIG Advisory had launched PNC Asset Exchange, an online loan resource and marketplace for financial institutions.
Powered by Community Capital Technology Inc.’s loan marketplace and business intelligence platform, the Exchange will allow PNC’s financial institution clients to optimize their loan portfolios.
“The introduction of PNC Asset Exchange reflects our commitment to expanding our capital markets capabilities and investing in solutions our clients need to meet their evolving strategic needs,” Charlotte McLaughlin, president and CEO of PNC Capital Markets, said. “Leveraging Community Capital’s online marketplace and PNC’s trusted advisory services, we’ve coupled efficiency with expertise to bring a cutting-edge solution to the market.”
PNC Asset Exchange will let clients place and source loans more easily, the company said. Additionally, it will help them find new credit opportunities. The new marketplace offers customized advice from PNC FIG Advisory’s traders as well. The company said regardless of whether a client is a seller looking to manage asset concentrations or a loan buyer, the community of financial institution members and loan opportunities provides an anonymous nonbinding way for clients to manage balance sheet risks and returns.
The exchange also provide member institutions with tools and information to quickly find and connect with proprietary deal flow and counterparties, while receiving customized transaction level guidance to optimize results, the company said.
“PNC Asset Exchange combines great technology, real-time market insights, price discovery, diversified deal flow and counterparties, and experienced transactional support in one streamlined, easy-to-use platform,” said Brian DeRespiris, chief operating officer of PNC Capital Markets and head of FIG Advisory and Institutional Fixed Income Sales. “By acting on timely and strategic recommendations, our clients can more effectively achieve their growth and liquidity objectives.”