PNC has hired equity investment analyst Kristin Matchica to join its research and due diligence team.
Matchica, who was previously an investment officer for the Public School Retirement System of Missouri, will cover domestic core strategies.
She joins a team of 25 other analysts responsible for selecting strategies on the firm's platform and reports to James 'BJ' Hargadon, who leads the equity manager due diligence team.
The whole team is overseen by former Citywire cover star Scott Lavelle, director of investment advisor research.
The platform is used by PNC’s family office Hawthorn, PNC Wealth Management, PNC Institutional Asset Management and PNC Retirement Services. It has $150 billion in assets under management and uses 140 third-party managers, 266 active strategies and 190 passive strategies.
In October 2017, the firm lost Lewis Ratti who covered domestic value strategies. According to his LinkedIn, he joined Hartford Funds as an investment specialist for international and emerging markets equity. That same month the PNC hired Alex Ziegler from SEI, who now covers Ratti's previous beat.
Separately, Lavelle and his team boosted their line-up of liquid alternatives with the addition of the $275.2 million BlackRock Event Driven Equity fund and the $509.7 million Vivaldi Merger Arbitrage fund to the platform.
‘We just want to make sure that our clients have some strategies that could potentially hold up in different market environments,’ Lavelle said.
‘We want to make sure we can allow our investment advisors to have the tools that they need to customize portfolios and meet particular views that their clients may have.’
Both funds are used in a liquid alternatives model portfolio that the firm launched in the summer of 2017. Including the new additions, there are 16 total strategies used in the model, which includes global macro, event-driven, relative value arbitrage and long/short equity.
Lavelle and his team have also been busy bulking up the firm’s environmental, social and governance (ESG) roster, adding five ETFs by iShares, State Street and Invesco.
The iShares ETFs that were added are the iShares MSCI EAFE ESG Optimized ETF and the iShares MSCI EM ESG Optimized ETF.
The other three added are the SPDR MSCI ACWI Low Carbon Target ETF, SPDR S&P500 Fossil Fuel Reserves Free ETF and the Powershares Water Resources ETF.
‘That area we’ll be continuing to review and will probably be adding over the course of the year,’ Lavelle said.
Lavelle said that he envisions at least two to three more ESG strategies being added to the platform but said that it depended on client appetite.
‘The plan is to get that built and then see what demand and client need is like in order to determine where we go from there,' he said.