William S. Demchak (Allegheny ’84) has been named president and chief executive officer of the PNC Financial Services Group, effective April 23, 2013.
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. 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. In addition to his undergraduate degree from Allegheny College, he earned an MBA at the University of Michigan.
The PNC Financial Services Group 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.