- WIB PH
Cost control is a mantra for Charlotte McLaughlin, who prods her PNC Capital Markets managers and employees to be as sparing as possible when it comes to business expenses. The result is a flattening expense structure that is producing an improved efficiency ratio as revenues rise.
September 18
Charlotte McLaughlin
President and CEO, PNC Capital Markets
Thinking like clients yields the best solutions for them, says Charlotte McLaughlin.
One of their most common complaints is that they would rather deal with one person than an army of bankers for all their various needs. So McLaughlin partnered with other PNC business units to give clients of her capital markets unit the more integrated solution they wanted. The change helped contribute to a 3.4% increase in revenue for the unit in 2013 from the previous year.
McLaughlin also is expanding PNC's employee groups to bring workers of similar backgrounds together and has been an executive leader for the women's and LGBT groups.
She says the workplace is becoming more egalitarian thanks to millennials. They tend to look for ways around the traditional corporate structure and sequential promotions, and distinguish people more by how hard they work and what they know, not gender or age.
"Advancement is no longer about 'how long have you been here?' and 'what is your title?'" McLaughlin says. "With millennials, it's more about 'what can I do to contribute more and make a difference faster?'"
Still, she thinks it is important for women in business to stay connected. This year McLaughlin became a member of the elite business women's network the Committee of 200.
"There are so many traditional male networks out there and now we have one," she says.
