PNC Global Investment Servicing, which until last week was known as PFPC, will add more than 50 jobs in Pittsburgh, The Pittsburgh Business Times reported.

Stephen Wynne, CEO of the Wilmington, Delaware-headquartered fund administrator, told the pub that the number of employees in Pittsburgh will more than double by yearend, from 46 currently to 100.

"We're locating hedge fund servicing and mutual fund/administration servicing in Pittsburgh because it's a region we can tap from a personnel perspective," Wynne was quoted as saying.

He added: "We recognized Pittsburgh has quite a few asset management firms whom I won't mention by name (that) we've had good success in recruiting from, and the college scene is very strong with a lot of accounting and finance majors."

PNC Global Investment Servicing has a total of 4,900 employees. 

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