PNC Global Investment Servicing

  www.pncgis.com
  www.pncgis.com

PNC Global Investment Servicing Reviews

Updated September 8, 2014
Updated September 8, 2014
36 Reviews
3.0
36 Reviews
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PNC Global Investment Servicing President & CEO William S. Demchak
William S. Demchak
1 Rating

Employee Reviews

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  1.  

    Control accounting specialist

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Control Accountant in King of Prussia, PA
    Former Employee - Control Accountant in King of Prussia, PA

    I worked at PNC Global Investment Servicing full-time

    Pros

    Nice people to work with, flexible

    Cons

    Salary very low, and not much advancement

    Recommends
    Neutral Outlook
    No opinion of CEO
  2.  

    Vice President

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President in King of Prussia, PA
    Former Employee - Vice President in King of Prussia, PA

    I worked at PNC Global Investment Servicing full-time (more than 5 years)

    Pros

    Accountable for own P&L, including decision making.
    Great small company feel inside a larger, strong balance sheet firm.
    Good mix of traditional services that plod along in terms of revenue and some dabble in the high growth areas.

    Cons

    PFPC was never part of the core strategy for PNC.
    Cutting staff and not replacing key departures made it difficult to keep pace with client commitments.

    Advice to ManagementAdvice

    Not applicable.

    Recommends
    Neutral Outlook
    Approves of CEO
  3.  

    GIS business sold to BNY Mellon

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Systems Integrator II in Philadelphia, PA
    Former Employee - Systems Integrator II in Philadelphia, PA

    I worked at PNC Global Investment Servicing full-time (more than 10 years)

    Pros

    PFPC (PNC GIS) was traditionally a relaxed atmosphere for dress and decorum. This was a very separate subsidiary of PNC Bank.

    Cons

    GIS units were either converted to core BNY Mellon systems, absorbed, or dismantled. This review is meant to clarify that for those who may be seeking employment with PFPC, which no longer exists. See BNY Mellon reviews.

    Advice to ManagementAdvice

    Continue to integrate functionality and retain the absorbed GIS client base. Keep up the good work.

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    Software Engineer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Software Engineer III in King of Prussia, PA
    Former Employee - Software Engineer III in King of Prussia, PA

    I worked at PNC Global Investment Servicing full-time (more than 5 years)

    Pros

    Flex working hour, business casual attire environment

    Cons

    lower side pay, not H1b friendly

    Recommends
    Neutral Outlook
    No opinion of CEO
  6.  

    Help senior analysis with due diligence

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee in King of Prussia, PA
    Current Employee - Anonymous Employee in King of Prussia, PA

    I have been working at PNC Global Investment Servicing

    Pros

    It was a good initial exposure to the financial services industry. As a college student it gave me a hands on introduction to the world of mutual funds and managed accounts.

    Cons

    Interactions with other employees was extremely compartmentalized. I rarely worked with members of other departments. I would have like to have had more open sharing of information across departments.

    Advice to ManagementAdvice

    Make an effort to encourage interaction between departments.

    Recommends
    No opinion of CEO
  7.  

    No work/life balance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Director of Accounting in Wilmington, DE
    Former Employee - Director of Accounting in Wilmington, DE

    I worked at PNC Global Investment Servicing

    Pros

    Interesting clients and fund structures.

    Cons

    Excessive hours; insufficient staffing, including quality of hires. Inadequate and outdated technology tools to get the job done.

    Advice to ManagementAdvice

    Invest in people and technology. Price your services accordingly. You can not squeeze both ends of the profit equation simultaneously.

    Doesn't Recommend
    No opinion of CEO
  8.  

    Good Company to learn the industry

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Investment Accountant in Wilmington, DE
    Former Employee - Investment Accountant in Wilmington, DE

    I worked at PNC Global Investment Servicing

    Pros

    Relaxed.
    Good Working environment.
    Excellent starting point to start a career in Investment Industry
    Excellent Managers and Directors with great knowledge of Fund industry and accounting

    Cons

    Pay is Low
    Back office / Cost center Environment
    Outsourcing Risk
    Not a good place for a critical thinker
    Not a good place to improve your presentation or writing skills

    Advice to ManagementAdvice

    Implement Bonus/ profit sharing incentives to improve employee moral

    Recommends
    Approves of CEO
  9.  

    Former employee of over 10 years. (Accounting)

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Supervisor in Wilmington, DE
    Current Employee - Supervisor in Wilmington, DE

    I have been working at PNC Global Investment Servicing

    Pros

    You will learn a lot at PFPC/PNC GIS. They make sure of that. I don't t think it was a good idea, however, in retrospect, to stay there as long as I did. I saw many people advance further and faster bouncing back and forth between PFPC and other companies.

    Cons

    Advancement within is sketchy. There are managers who knew the work, but who were far less capable of managing other employees. OR helping an underling with issues with an employee. I had a situation occur like that, and my only recourse as a supervisor was to write the person up, something PFPC is keenly adverse to doing. (someone who did the minimums required to get the daily job done, and spent every other waking moment surfing or texting or on the phone. Having to wait, often, 4-5 minutes for a non emergency personal phone to talk to someone is unacceptable. Being then told (repeatedly), by said underling they didn't have time to do a project involving funds they did normal activity for after that is also unacceptable. )

    Supervisors and managers doing accountants work in such cases, due to such push back. This was a large part of my dissatisfaction with the job. (Well, that, and that I was sick, I found out later, actually had been for some time. I ended up in the hospital for GI issues and an ongoing infection just after I was laid off. This, I was told, had been affecting me for at least a year. My lay-off was a very good thing, it allowed me time to recover from invasive surgery.)

    Advice to ManagementAdvice

    Management classes for supervisors and above. Support your supervisors, and give them ways and means to manage others, and deal with pushback.

    What has come to my notice recently, as I job searched in NYC, is something else. It is likely they will need to pay their accountants more, especially in Alternative Investments. They use the Geneva system there, since 2006. It has come to my attention that BOTH JP Morgan and CITI are moving to that platform for accounting.

    Approves of CEO
  10.  

    Soon to be BNY

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Investment Accountant in Wilmington, DE
    Current Employee - Investment Accountant in Wilmington, DE

    I have been working at PNC Global Investment Servicing

    Pros

    -Relatively low turnover
    -Very hard to be terminated
    -Casual Friday
    -Volunteer opportunities
    -Very culturally diverse
    -Very accommodating to new parents
    -Occasional health screenings

    Cons

    -Unwillingness to terminate incompetent management
    -Hypocrisy from management, management will not allow vacation during the beginning of the month because of month end deadlines, but guess who took just took the first week of week of May off?
    -Actual accounting knowledge relatively low on an individual accountant level
    -Obvious favoritism by upper level management
    -Low compensation

    Advice to ManagementAdvice

    Compensation as a whole is probably the worst thing about this company. 3% annual raises hardly keep in line with inflation. Also, promotions seem few in far between. There would definitely be much higher turnover over this simple fact alone if the economy was doing any better.

    Doesn't Recommend
    Disapproves of CEO
  11.  

    Low pay results in a large number of less than competent employees

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Manager in Westborough, MA
    Former Employee - Manager in Westborough, MA

    I worked at PNC Global Investment Servicing

    Pros

    If able to find the right department and management team, you will be recognized for doing a good job. But finding that department is a crapshoot. Westboro has a cafeteria.

    Cons

    Pay is very low compared to competitors and other financial services firms. "Merit increases" max out at 3% per year. Other than the standard annual review, there's very little feedback that takes place. Most departments in operations are dead ends. Your ability to move up in the hierarchy depends totally on your manager's interest in seeing you do so. Can be very political. Virtually no communication between senior management and employees regarding issues that will directly impact employees. Can be very thankless place to work. Just been bought by BONY. Cafeteria is overpriced. Vacation time starts at 2 weeks. Don't get 3 weeks until 5 years. No consistency between departments.

    Advice to ManagementAdvice

    Increase base level pay to get more qualified candidates. Environment doesn't reward motivated and ambitious employees, nor does it give them any reason to stay. So the best and brightest leave resulting in a lot of weak players being left behind to shoulder an increasing burden.

    Doesn't Recommend
    Disapproves of CEO

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