This excerpt taken from the PNC 8-K filed Mar 23, 2007.
Building a Great Company
We believe we can take advantage of our positioning to remain a top competitor in 2007. But, we want more. By emphasizing four enhancements to our strategy in the coming year, we will stay focused on our mission to build a great company.
First, we will strive to achieve flawless execution. Stable earnings growth depends as much on operational risk control as it does on good asset quality and a well-managed balance sheet. We intend to reduce the volatility of our earnings and minimize our execution risk on tasks such as the integration of Mercantile by applying prudent risk mitigation principles to our everyday activities.
Second, we must attract and retain talented employees from diverse backgrounds and with diverse outlooks. One of every two new households added to PNCs fastest-growing markets in the next five years will be Asian or Hispanic/Latino. To support growth in our customer base, we will acquire the language skills and the cultural context necessary to conduct business in these rapidly expanding markets.