PNC Bank, N.A., announced the appointment of David Mengel, executive vice president, to head up the technology finance team based in San Francisco. With 30 years of banking experience, Mengel will relocate to oversee PNC’s accelerated build out of this specialty team that lends against the value of established recurring revenue streams.

“Demand for capital in the software industry continues to grow and is fueled by on-going product development initiatives inherent within the technology space. PNC has built a team of individuals with decades of lending experience who truly comprehend this unique product,” said William Kosis, president and CEO of PNC Business Credit, the division of PNC Bank that provides asset-based and junior secured financing to businesses in the United States, Canada and the United Kingdom.

PNC’s technology finance team targets private equity sponsor-backed software and technology-enabled companies nationwide. Leadership of the team includes Thomas Stoltz, executive vice president and national portfolio manager; and George Mansour III, senior vice president and national originations manager.

Mengel arrived at PNC in 1998 to manage the Energy, Metals and Mining portfolio. Most recently, Mengel managed nationwide origination for Steel City Capital Funding, a specialty finance company serving middle-market companies and private equity sponsors across the United States, Canada and the United Kingdom.

PNC Bank, N.A., is a member of The PNC Financial Services Group, Inc., one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.