The PNC Financial Services Group Inc. announced that its board of directors has elected William Demchak to be president of the corporation and its principal banking subsidiary, PNC Bank, National Association.
The Pittsburgh-based company has a presence in the Wisconsin market.
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 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.
