Bruce D. Hendryx serves as a Senior Vice President and as the Director of Closely Held Business Strategies with the PNC Wealth Management Group.
Bruce is a succession planning and closely held business expert with PNC’s Wealth Management Group. He has over 20 years experience in the banking, investment and public accounting industries. In his role as Senior Vice President and Director of Closely Held Business Strategies, Bruce is responsible for helping business owners prepare for the transfer of their company, and manages the closely held businesses currently held in estates and trusts in the Wealth Management Group.
In his role as a closely held business advisor, he works with companies to understand their market, their management team and prospects for financial success. In situations where PNC holds these assets, he coordinates the role as shareholder with other owners, officers and directors to best appreciate the benefits and risks to our fiduciary clients. Owners (and in estate situations, their families) appreciate the no-nonsense approach to helping them meet their needs and protect their business interests.
In situations where PNC becomes fiduciary of an estate or trust which has ownership of a controlling interest of a closely held entity, Hendryx and the closely held business team immediately engage the key strategic personnel of that entity to determine any issues of risk to best preserve the value of this asset. Once the immediate business situation is understood, the Closely Held team then reaches out to corporate counsel (or engages such counsel) to determine that the corporate records, organizational structure and strategic management are in order.
Bruce’s proven management skills and experience serve him well in situations where a sale of these interests is required. Hendryx coordinates and supervises the sale process ultimately working closely with counsel and the board of directors to finalize a successful transaction.
Bruce earned a Bachelor of Arts degree in Economics from Case Western Reserve University, a Masters of Business Administration degree from the Weatherhead School of Management at Case Western Reserve University and a law degree from the Franklin Thomas Backus School of Law at Case Western Reserve University. Hendryx has been a member of the Ohio Bar Association, Ohio Employee Ownership Center and Cleveland Estate Planning Council. He has also served on the Legacy Advisory Committee for The Hattie Larlham Foundation, Board for the Trust Education Foundation, Executive Board for the National Trust and Closely Held Business Association, Fund-Raising Board for the YMCA Annual Fund and Advisory Committee for the Boy Scouts of America.