PNC Business Credit has hired to new professionals to develop relationships with private equity firms. Joining PNC are Robert Betts and Jonathan Westberg. Both will assume the title of Senior Vice President of Private Equity Originations.
Mr. Betts has ten years of banking experience, including commercial credit and finance. Prior to joining PNC he was at Cerberus Capital, Z Capital Partners, Citigroup and General Electric Medical Systems. Mr. Betts is a graduate of Harvard Business School and has a BA in History from Yale University. He is also a former United States Marine Corps officer.
Mr. Westberg has 13 years of banking, investing and capital markets experience. Prior to joining PNC he spent time at The PrivateBank, Lake Capital Management, JPMorgan Securities and Bank One. He graduated from the Booth School of Business at The University of Chicago and has a BA in Finance from Miami University.
PNC Business Credit is part of the PNC Financial Services Group, a large diversified financial services company headquartered in Pittsburgh (www.pnc.com).
Both Mr. Betts and Mr. Westberg will be based in PNC’s Chicago office. In February, the Chicago office of PNC Business Credit provided financing to Industrial Opportunity Partners for its acquisition of Monroe Truck Equipment, a designer, manufacturer, distributor of specialized truck equipment for the municipal and commercial markets.
2015 PEPD • Private Equity’s Leading News Magazine • 5-4-15