Thomas P. Melcher was named chief investment officer of PNC Asset Management Group, spokesman Fred Solomon said.
Effective Jan. 1, Mr. Melcher will replace James P. Dunigan, who is retiring. Mr. Melcher will work closely with Mr. Dunigan through mid-2016 to ensure a smooth transition. He will report to Orlando Esposito, head of the PNC Asset Management Group.
Mr. Melcher is currently executive vice president and managing executive of Hawthorn, PNC Family Wealth, a wealth management subsidiary of PNC Financial Services Group. He will be replaced by Nicole M. Perkins, market director of fiduciary services for Hawthorn for Philadelphia and Delaware. Her successor has not yet been announced.
PNC Asset Management Group managed $48 billion in institutional assets as of Sept. 30.