Feb 14 PNC Financial Services Group Inc,
the 12th-largest U.S. bank by assets, said President William
Demchak will become its chief executive when incumbent James
Rohr steps down later this year.
Demchak, elected president in April last year, was seen by
many as the heir apparent to Rohr, who is expected to step down
as CEO and chairman on April 23.
Rohr will serve as executive chairman for one year after
stepping down, the company said.
Demchak joined PNC in 2002 as chief financial officer and
took charge of its corporate and institutional banking
businesses in 2005. He has also managed its asset-and-liability
He previously headed structured finance and credit portfolio
at JPMorgan Chase & Co in New York, and is a director at
BlackRock Inc, the world's largest money manager.