Pittsburgh, Pa., USA - April 25, 2013, Pittsburgh, Pa., USA - The PNC Financial Services Group, Inc. announced that William S. Demchak has assumed the position of president and chief executive officer.
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Mr. Demchak joined PNC in 2002 as chief financial officer. In 2005, he became head of Corporate & Institutional Banking. He was promoted to senior vice chairman in 2009 and named head of all PNC businesses in 2010. He was elected PNC president in April 2012, and joined PNC's Board of Directors in February 2013.
Prior to joining PNC, Mr. Demchak served as head of Structured Finance and Credit Portfolio for JPMorgan Chase & Co. He is a director of BlackRock, Inc. He earned his undergraduate degree at Allegheny College and an MBA at the University of Michigan.
Former Chief Executive Officer James E. Rohr took the new position of executive chairman.
Mr. Rohr announced in February that he will retire in 2014. He will serve in the new position for one year to ensure a smooth transition.
Mr. Rohr is executive chairman and former chief executive officer of The PNC Financial Services Group. He joined PNC's management development program in 1972. Over more than 40 years with the company, he has held a variety of leadership positions, including vice chairman, director and chief operating officer.
He was named chief executive officer in 2000. For his leadership, he was named American Banker's "Banker of the Year" for 2007. He stepped down as chief executive officer in April 2013.
Mr. Rohr is a director of BlackRock, Inc., ATI, and EQT Corporation and is past chair of The Financial Services Roundtable. He is president of the Federal Advisory Council of the Federal Reserve System. He is a past chairman of the Pennsylvania Business Roundtable, former director of the Federal Reserve Bank of Cleveland and former chairman of BITS, the technology group for The Financial Services Roundtable.
Over the years, Mr. Rohr has earned numerous industry and community awards. In October 2006, he received the Woodrow Wilson Award for Corporate Citizenship. In May 2007, he received the Sesame Workshop Corporate Honoree Award. Mr. Rohr also was named a Horatio Alger Award recipient for 2011 by the Horatio Alger Association of Distinguished Americans. ■