Corey Huston

BY SourceMedia | MUNICIPAL | 09/18/24 08:55 AM EDT

Title: Senior Vice President, Managing Director
Firm: PNC
Age: 37

Corey Huston took a risk in 2017 that helped propel him to managing director in a national banking organization while still in his mid-30s.

Huston, whose father was in the military and whose mother was a schoolteacher, said the lure of public service was strong. "I raised my hand for this," he said. "The municipal space was an opportunity to get to know my community and make an impact."

Huston's first job in the muni market was at Frost Bank, a community bank based in San Antonio, where he rose from relationship manager to assistant vice president in six years. The risky decision was to switch to PNC in 2017, when "PNC wasn't a household name in Texas," he said.

Huston, who started as a vice president at PNC, was the bank's lone public finance employee in the Lone Star state when he started. But when the Pittsburgh-based company acquired BBVA USA in 2021, Huston's risky move became "very fruitful," he said.

"Corey has positioned PNC Public Finance for exponential growth in Texas," said Jason DiMartini, managing director at PNC Capital Markets LLC. Beyond his duties as a team lead, managing three other Texas-based public finance relationship managers, Huston's portfolio covers the spectrum of Texas municipal issuers, including school districts, large not-for-profits, cities, counties and higher education clients.

Huston, whose territory also includes Oklahoma and Arkansas, said he plans further expansion in his home state.

"My goal is to continue to build off the foundation we have here," Huston said. "Everyone wants a piece of Texas. That requires us to remain very sharp and committed."

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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