William S. Demchak is chairman, president and chief executive officer of The PNC Financial Services Group, one of the largest diversified financial services companies in the United States.
Demchak joined PNC in 2002 as chief financial officer. In July 2005, he was named head of PNC's Corporate Institutional Banking responsible for PNC's middle market and large corporate businesses, as well as capital markets, real estate finance, equity management and leasing. Demchak was promoted to senior vice chairman in 2009 and named head of PNC businesses in August 2010. He was elected president in April 2012, chief executive officer in April 2013 and chairman in April 2014.
Before joining PNC in 2002, Demchak served as the global head of Structured Finance and Credit Portfolio for JP Morgan Chase. He also held key leadership roles at JP Morgan prior to its merger with the Chase Manhattan Corporation in 2000. He was actively involved in developing JP Morgan's strategic agenda and was a member of the company's capital and credit risk committees.
Demchak is director of BlackRock, Inc. He is also a member of the board of directors and serves on the Regulatory Management Committee of The Financial Services Roundtable as well as the Supervisory Board of The Clearing House. In addition, he serves on the boards of directors of the Allegheny Conference on Community Development, Extra Mile Education Foundation, Pittsburgh Cultural Trust and the YMCA of Pittsburgh.
Demchak received a bachelor of science degree from Allegheny College and earned an MBA with an emphasis in acco nting from the University of Michigan.
PNC Financial Services Group, Inc. (stylized as PNC) is an American financial services corporation, with assets (as of December 31, 2014) of approximately $345.2 billion. PNC operations include a regional banking franchise operating primarily in nineteen states and the District of Columbia with more than 2,700 branches, online and mobile services together with 8000 ATMs, specialized financial businesses serving companies and government entities, and asset management and processing businesses.
PNC is the fifth largest bank in the United States (total branches), sixth largest bank by deposits in the United States, ninth largest by total assets, and the third largest bank off-premises ATM provider. PNC is based in Pittsburgh.