Robert Dailey will retire from PNC Bank at the end of July, the bank announced Wednesday.
Dailey has been head of PNC's public finance business
"I've been at PNC for 13 years," Dailey said. "I came with a goal of helping to build a strong franchise that spans both the investment banking and commercial banking parts of our business, and we've been able to do that. And I think we're poised for continued success and growth, and I think it's time for me to allow somebody else to step in."
Dailey will stay at the bank for the next two months to assist with Funk's transition, according to the bank's press release.
In the release, Dailey said he was "pleased to be handing the reins to Samantha, whose strong leadership and deep understanding of our clients — shaped, in part, by her most recent experience leading the West Region — make her exceptionally well-suited for this role.
"I'm confident she will continue to serve PNC's clients with dedication and expertise," Dailey said.
Funk has nearly 20 years of financial services and public finance experience. She began her career at AG Edwards and Wachovia Securities. She joined PNC in 2010 and spearheaded its Public Finance Capital Solutions Group in 2018. She was appointed to lead public finance in the Westin 2022.
Funk has also led efforts in hiring, analyst training and continuing education opportunities in her time at PNC. She was named one of the
She has served as president of the national Women in Public Finance and of Ladies First, a Philadelphia-based group for women in the public finance field. She becomes the fifth woman to head public finance at a bank.
"The selection of Samantha to launch and lead the Capital Solutions Group was based in part on her ability to work with anybody throughout PNC in a constructive, positive way," Dailey told The Bond Buyer in 2019.
In Dailey's tenure at PNC, he focused on expanding and strengthening the firm's national presence.
"Regardless of industry headwinds, PNC Public Finance is committed to expanding our presence and capabilities from coast to coast,"
Dailey has a number of accomplishments that he looks back on proudly, such as the acquisition and integration of RBC USA early in his tenure and the
"As a well-known and respected leader in the industry and an expert in the field of municipal finance, Rob's leadership has resulted in strong growth and client relationships for the business on a national scale," Terry Begley, CEO of corporate banking for PNC, said in a press release. "I want to personally thank Rob for his many contributions to PNC over the past 13 years."
Over the next two months, Dailey will help prepare Funk to take over his position, ensuring she has a grasp on his decision-making process and is prepared to "assert her own perspective" on things.
"I want to make sure that I'm doing the best I can to put Samantha in a position for success," Dailey said.
Dailey plans to spend the end of the summer sailing. But beyond that, he hasn't made any decisions about his next chapter. He'll likely take board positions, but he's not committing to any of them yet.
Funk said PNC has "great momentum." She's excited to work with PNC's team and grow the business.
"We're in a unique position. We obviously have a robust capital position, and in these periods of volatility, that's incredibly important," Funk said. "We can help our clients manage through bond market volatility or volatility with some of what's going on in Washington … we've got the balance sheet to really support and to step up and to be of assistance."
PNC ranks 21st among senior underwriters nationally year to date, credited by LSEG with $1.15 billion of business.
