Pittsburgh, located in western Pennsylvania, is home to a vibrant financial services industry and some of the top investment management firms in the country. Major players like PNC Financial Services, BNY Mellon, Federated Investors and Klingman & Associates have headquarters or major operations in the city. These firms manage assets for institutional and retail investors across equity, fixed income and alternative strategies. With its concentration of talent and expertise, Pittsburgh has emerged as a hub for investment management alongside major centers like New York, Boston and Chicago. This article provides an overview of the leading investment firms in Pittsburgh across private banking, wealth management and institutional asset management.
PNC’s investment management arm oversees $220 billion in client assets
PNC Financial Services, headquartered in Pittsburgh, is one of the largest diversified financial institutions in the U.S. Its investment management division, PNC Capital Advisors, provides investment advisory solutions to institutions, pensions, endowments, foundations and high net worth individuals. PNC Capital Advisors manages about $220 billion in assets across equity, fixed income and balanced portfolios. Its investment strategies cover domestic and international stocks, taxable and municipal bonds, and multi-asset class solutions.
BNY Mellon Wealth Management has strong roots in Pittsburgh
BNY Mellon is a global leader in investment management and investment services, with $1.9 trillion in assets under management. BNY Mellon Wealth Management oversees $292 billion in total client assets. The firm has deep roots in Pittsburgh – it was founded in the city in 1869 as The Bank of New York Mellon. Today, Pittsburgh is home to over 2,000 BNY Mellon employees and one of the company’s main technology hubs.
Federated Investors manages $654 billion in assets
Federated Investors is one of the largest investment managers in the U.S. with $654 billion in assets under management. Founded in Pittsburgh in 1955, Federated provides investment solutions to more than 11,000 institutions and intermediaries globally. The company offers a range of active and passive equity, fixed income and money market funds. Federated has expertise across equity research, credit analysis, risk management and multi-asset class investing.
Boutique wealth management firms boost Pittsburgh’s investment landscape
In addition to large banks and asset managers, Pittsburgh is home to a number of boutique wealth management firms that work with high net worth clients. Firms like Klingman & Associates, Oxford Financial Group, Fort Pitt Capital Group and Burns White Center Asset Management collectively oversee several billion in private client assets. These firms focus on tailored investment solutions and personalized service for wealthy families, executives, foundations and endowments in the region.
Pittsburgh has emerged as a major hub for investment management, with a diverse collection of firms overseeing hundreds of billions in assets. Major players like PNC, BNY Mellon and Federated anchor the industry alongside boutique wealth managers serving local high net worth clients.