PITTSBURGH, April 24, 2012 /PRNewswire/ -- The PNC Financial Services Group today announced that its Board of Directors has elected William S. Demchak president of the corporation and its principal banking subsidiary, PNC Bank, National Association.
Demchak, 49, has been senior vice chairman of PNC since 2009, and since 2010 has held supervisory responsibility for all PNC businesses.
"Bill set the standard for delivering the entire company to our customers. He brought record earnings to Corporate & Institutional Banking, and drove superior customer growth across the franchise," said PNC Chairman and Chief Executive Officer James E. Rohr. "In his new role, I believe he will further enhance PNC's position as a national financial services leader."
Demchak joined PNC in 2002 as chief financial officer. In 2005, he was named head of Corporate & Institutional Banking, responsible for PNC's middle market and large corporate businesses, as well as capital markets, real estate finance, equity management and leasing. He also managed PNC's asset and liability management function. Prior to joining PNC, Demchak served as head of Structured Finance and Credit Portfolio for JPMorgan Chase & Co.
Demchak is a director of BlackRock, Inc. He earned his undergraduate degree at Allegheny College and an MBA at the University of Michigan.
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation's largest diversified financial services organizations providing 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. Follow @PNCNews on Twitter for breaking news and announcements from PNC.
SOURCE PNC Financial Services Group