Jim Rohr

James "Jim" E. Rohr (born October 18, 1948) is Chairman and CEO of PNC Financial Services Group (best known as PNC Bank). Rohr has served as CEO since May 2000 and as Chairman since May 2001 [ [https://www.pnc.com/webapp/unsec/NCProductsAndService.do?siteArea=/PNC/Home/About+PNC/Our+Organization/Executive+Team/James+E.+Rohr James E. Rohr ] ] .

Early life

A Cleveland, Ohio native, Rohr graduated from the University of Notre Dame in 1970 with a B.A.. Two years later, in 1972, Rohr earned a MBA degree from Ohio State University.

Professional Life

Prior to becoming Chairman & CEO of PNC, Rohr had spent his entire 28-year professional life at PNC-affiliated or predecessor companies.Since becoming CEO, Rohr has been praised for his handling of a major accounting scandal that plagued PNC soon after he assumed leadership of the banking firm. By shifting $762 million in underperforming assets and loans to accounts that were kept off the corporation's balance sheet, PNC was forced to restate its 2001 earnings [ [http://findarticles.com/p/articles/mi_m4070/is_204/ai_n9483655 The survivor: Jim Rohr has beaten challenges, and odds, at PNC | Chief Executive, The | Find Articles at BNET.com ] ] .

The first few years in an executive role at PNC were turbulent for Rohr. PNC's stock price lost roughly half of its overall value throughout 2001 and at shareholders' meetings during that time, shareholders began to demand that Rohr resign from his position [ [http://www.americanbanker.com/usb_article.html?id=20060403Q0LULJLS The Path to Redeption - 04.01.2006 - U.S. Banker Article ] ] .

In the wake of that scandal, Rohr has managed to keep PNC out of more negative scrutiny and boost the performance of PNC's stock. In the first half of 2004, PNC's net income rose 41 percent compared to the same part of 2003 [ [http://findarticles.com/p/articles/mi_m4070/is_204/ai_n9483655 The survivor: Jim Rohr has beaten challenges, and odds, at PNC | Chief Executive, The | Find Articles at BNET.com ] ] . A year later, in 2005, PNC earned $1.3 billion (or $4.65 per share), the highest annual earnings figure in the corporation's history [ [http://www.americanbanker.com/usb_article.html?id=20060403Q0LULJLS The Path to Redeption - 04.01.2006 - U.S. Banker Article ] ] .

PNC and Rohr have also received high marks for their decision to sell a 49.8% stake of the money manager firm Black Rock to Merrill Lynch in 2006. The deal valued PNC's 70% stake at $5.6 billion, compared to the $240 million PNC paid for the same stake in 1995 [ [http://www.americanbanker.com/usb_article.html?id=20060403Q0LULJLS The Path to Redeption - 04.01.2006 - U.S. Banker Article ] ] .

Rohr's positive performance as Chairman & CEO has earned him much praise and acclaim, including the 2007 American Banker's Banker of the Year Award [ [http://www.marketwire.com/mw/release.do?id=782303 American Banker to Honor James Rohr of PNC Financial With 2007 Banker of the Year Award ] ] .

Criticism

In a highly unusual move for a periodical, The Pittsburgh Tribune-Review newspaper began running "The Jim Rohr Box." The editorial section bearing Rohr's name chided the PNC Chairman for accepting a $48 million public subsidy to help fund the construction of the new Three PNC Plaza, which will hold the new corporate headquarters for PNC Financial Services in downtown Pittsburgh [ [http://www.post-gazette.com/pg/07142/787875-28.stm Is newspaper's anti-Rohr campaign over the line?] ] .

Personal Wealth

Forbes Magazine's profile of Rohr shows his annual salary at PNC totaling $950,000 with PNC stock options valued at $11.4 million [ [http://www.forbes.com/finance/mktguideapps/personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=939689 James Rohr Profile - Forbes.com ] ] .

References