Mark Wiedman Appointed President of PNC Financial Services Group, Embracing Change in Banking Industry

Mark Wiedman Takes the Helm at PNC Financial Services

Pittsburgh, April 7, 2025 – In a groundbreaking move, PNC Financial Services Group has appointed Mark Wiedman as the new president of the corporation and PNC Bank, National Association. This strategic decision, announced by the Board of Directors, aims to harness Wiedman's extensive industry expertise to bolster PNC's growth trajectory and strengthen its operational leadership.

Wiedman, who reports directly to PNC Chairman and CEO William S. Demchak, steps into this pivotal role during a transformative time for the banking sector. Under his leadership, several operational arms, including PNC's primary lines of business and the Regional Presidents Office, will report to him.

Demchak expressed his enthusiasm, stating, "I'm thrilled Mark has joined us in this role. Banking today is nothing like what it used to be. Mark's extensive experience in a fast-paced, tech-driven, and rapidly consolidating industry makes him an ideal fit for PNC. I have known Mark for 20 years, and we are fortunate to have him join our team at this crucial juncture."

The last few years have seen PNC executing a clear and growth-oriented strategy backed by well-planned investments and disciplined execution. In 2024 alone, the bank made significant strides in enhancing customer relationships and securing operational leverage. With Wiedman at the forefront, PNC sees vast potential to capitalize on this momentum by expanding its client base through a diverse range of products and services, leveraging cutting-edge technology, and enhancing brand visibility by prioritizing customer, community, employee, and shareholder needs.

Before joining PNC, Wiedman spent a successful tenure at BlackRock as a senior managing director and a member of the Global Executive Committee. He played a pivotal role in driving organic growth and business transformation within the firm. Notably, he led the Global Client Business, overseeing BlackRock's formidable $11 trillion in commercial relationships, partnerships, and joint ventures across global financial institutions.

His expertise also includes serving as the global head of iShares and Index Investments, where he led its remarkable growth surge from $500 billion to $1.7 trillion. Wiedman began his career at BlackRock, where he played a crucial role in advising on capital markets and issues related to balance sheets, helping initiate the Financial Markets Advisory in 2004. His prior experience includes acting as a senior advisor to the Under Secretary for Domestic Finance at the U.S. Treasury, showcasing his deep understanding of the financial landscape which will undoubtedly inform his new role.

"PNC has undoubtedly secured one of the most exciting positions in U.S. finance right now, and I am eager to collaborate with Bill and his team to amplify the company's transformative growth journey," remarked Wiedman. "The banking landscape is changing rapidly. To succeed, we must anticipate where our customers and technology are headed and innovate ahead of our competitors. Together, we will strengthen our brand and nurturing work culture to ensure PNC becomes not only the best bank for customers but also an ideal place for career development."

PNC Bank is a significant member of The PNC Financial Services Group, Inc. (NYSE: PNC), one of the largest diversified financial service institutions in the United States. Focused on customer-centric service delivery, PNC offers comprehensive solutions, including various lending products, corporate banking, real estate finance, asset-based lending, and wealth management.

As the banking world moves towards a more technology-friendly and customer-oriented approach, Mark Wiedman’s appointment symbolizes PNC's commitment to staying at the forefront of these market changes. His vision and leadership are set to steer PNC towards a prosperous future, ensuring it remains a reliable and innovative financial partner for years to come.

For further information on PNC Financial Services, please visit PNC.com.