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Benzinga
Benzinga
Business
Mohd Haider

Jamie Dimon's Protege Unveils $4 Billion FirstBank Deal In Bid To Build Trillion-Dollar Banking Giant

Jamie Dimon FirstBank PNC NYSE United States Colorado JPMorgan
Pittsburgh,,Pennsylvania,,Usa,-,January,11,,2020:,Pnc,Bank,Sign

The PNC Financial Services Group Inc. (NYSE:PNC) CEO Bill Demchak announced a $4 billion acquisition of Colorado-based FirstBank on Monday, marking a strategic push toward his ambitious goal of creating a trillion-dollar banking giant.

The deal positions PNC closer to joining the elite club of too-big-to-fail banks alongside JPMorgan Chase & Co. (NYSE:JPM) and Bank of America Corp. (NYSE:BAC), according to a Wall Street Journal report.

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