PNC executives on what St. Louis must get right to advance its economy and ensure business success

Business Journals

29-04-2025

As Michael Scully retires from his PNC regional president role and Matt Corcoran takes the helm of PNC's business in St. Louis, these distinguished executives share their insights on advancing St. Louis' economic and business success.
Q: How long have you called St. Louis home?
Michael Scully: I moved here in 1983 to begin my banking career and have never thought about living elsewhere. The civic-minded business community, quality of life and many cultural amenities make St. Louis such an amazing place to live and work.
Matt Corcoran: I am a St. Louisan, born and raised. My first job, as a high school student, was as a bagger for Schnucks. I often joke that if you cut me, you might find Provel cheese. In all sincerity, though, this city has shaped and inspired me. St. Louis is home. It has been a fantastic place to build my career and family, and I'm excited to lead PNC's local business during what I believe will be a transformational period for this region.
Q: When we talk about advancing St. Louis, what does success look like to you?
Scully: St. Louis is unique as we have a consistent playbook with the STL 2030 Jobs Plan, which outlines pathways for realizing our region's great potential — from growing quality jobs to rejuvenating the urban core. Advancing St. Louis will entail delivering on these measurable actions.
Corcoran: What gives me confidence in our collective ability to advance St. Louis is the resolve of local business leaders who are committed to the success and sustainability of this region. St. Louis has benefited from visionary founders who not only built major companies but also cultivated future generations of leaders. In sports terms, I liken this to the Bill Walsh coaching tree, which captures the rich legacy a single individual can impart through the development of successors and proteges. I see this same dynamic at play in St. Louis business circles.
Q: Reflecting on PNC's 15 years in Greater St. Louis, what would you consider to be the business community's most significant wins?
Scully: The tremendous success of several homegrown industries, including health care, plant science, biotech and advanced manufacturing, has created meaningful impact for our region while elevating St. Louis' profile globally. The wins our region is enjoying today, including cutting-edge output from the Donald Danforth Plant Science Center and Washington University's burgeoning neuroscience research center, are only possible because of the robust research and innovation ecosystem that has been established here, as well as decades of disciplined planning and collaboration.
Corcoran: As a sports enthusiast and board member of the St. Louis Sports Commission, I always point to the significant economic activity that our sports organizations and major venues generate for local businesses. The growing popularity of the St. Louis Blues, the emergence of St. Louis City SC and Energizer Park, the transformation of World Wide Technology Raceway and the extensive renovations at Enterprise Center have all contributed to this impact. The sports scene also translates to marketability for St. Louis as a great place to live.
Q: What must St. Louis get right to advance its economy and success in business?
Corcoran: As a naturally competitive person, I often compare St. Louis to comparably sized MSAs where PNC operates. One of the key differences is the rate of population growth. The good news is that our region is seeing meaningful gains, with the U.S. Census Bureau's Vintage 2024 Population Estimates reporting the largest increase since 2010. Additionally, for the first time in 35 years, St. Louis ranked as one of the top five U.S. markets for job growth.
While these statistics provide reason for optimism, it is incumbent on businesses to sustain this momentum by growing jobs and recruiting talent. And as a financial institution, PNC has a tremendous opportunity to enable this growth.
Scully: There are several efforts underway to encourage population growth and enhance livability. While I may be retiring from banking, I intend to continue contributing to these civic initiatives. One of these projects is Great Rivers Greenway's work to develop the Brickline Greenway, which will bring St. Louis' neighborhoods and communities together in new and wonderful ways.
Q: If you're recruiting a young banker from outside the St. Louis metro, what are the key selling points you position for the metro?
Scully: The top attributes I'd position would be the enviable cost of living, world-class culture, great restaurants and exceptional universities that attract individuals who are smarter than smart.
Corcoran: I'd add the many networking opportunities available to young professionals, such as the St. Louis Sports Commission's Young Professionals Group and the Regional Business Council's Young Professionals Network — and our exciting sports community, of course!