PNC's Chief Operating Officer is departing from the financial institution.
PNC Bank, one of the largest financial institutions in the United States, has announced a series of changes in its senior management team. The most notable departure is that of E. William Parsley III, the Chief Operating Officer, who is leaving his role on July 1, 2023.
Parsley's departure follows the exit of Mike Lyons, a high-ranking executive at PNC, who left the bank in January. No information about a replacement for Parsley's roles at PNC has been provided.
Parsley oversaw various critical functions at PNC, including asset and liability management, capital and liquidity strategy, regulatory stress testing, and the company's asset resolution efforts. He joined PNC in 2003 from JPMorgan Chase.
If confirmed by the Senate, Frank Bisignano, the current CEO of Fiserv, will step down from his role, and Mike Lyons will become CEO ahead of schedule. Bisignano has been nominated by President Donald Trump to serve as commissioner of the Social Security Administration.
In a planned reorganization of certain functions at PNC, Mark Wiedman has been hired as the bank's president, effective immediately. Wiedman, a former BlackRock executive, will report directly to PNC Chairman and CEO William Demchak. Wiedman's appointment is part of PNC's efforts to accelerate growth and extend its leadership team following the departures of Michael Lyons and E. William Parsley III.
Parsley is eligible for his outstanding equity awards, including a leadership continuity award granted in 2022, under PNC's severance plan. He will also become an executive adviser with PNC.
Regarding Parsley's departure, although the search results do not explicitly mention Parsley or directly link him with Wiedman’s appointment, it is clear that Wiedman stepped into the president role as part of PNC’s significant leadership changes in 2025.
The departure of E. William Parsley III further thins the ranks of executives under CEO Bill Demchak. However, Parsley's departure may clarify Mark Wiedman's path as Demchak's potential successor.
Mike Lyons, who is set to become CEO of Fiserv on June 30, will become CEO-in-waiting at the payments processor.
PNC did not issue a press release regarding E. William Parsley III's departure.
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- In the reorganization of PNC's leadership team, the vacancy left by E. William Parsley III's departure might be filled by Mark Wiedman, as he has been appointed as the bank's president.
- The departures of E. William Parsley III and Mike Lyons from PNC Bank have created opportunities for the bank to grow and extend its leadership team, with Mark Wiedman being one of the key appointments.
