William S. Demchak Succeeds James E. Rohr as PNC CEO

The PNC Financial Services Group, Inc. PNC announced today that William S. Demchak has assumed the position of president and chief executive officer.  Former Chief Executive Officer James E. Rohr took the new position of executive chairman. The changes became effective today at PNC's Annual Meeting of Shareholders. 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. "Bill is well prepared to lead PNC and to execute the winning strategy he helped develop over the past decade," Rohr said. "PNC's customers, shareholders, employees and community will benefit from his vision and commitment to serving their needs." 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, Demchak served as head of Structured Finance and Credit Portfolio for JPMorgan Chase & Co. Demchak is a director of See full press release