President Michael P. Lyons to Depart PNC

Rhea-AI Summary

PNC Financial Services Group (NYSE: PNC) announced that President Michael P. Lyons is leaving the company to become President & CEO-Elect at Fiserv. Lyons, who joined PNC in 2011 as head of Corporate & Institutional Banking and was promoted to president in 2024, served the company for 13 years.

PNC Chairman and CEO William S. Demchak expressed confidence in the company's leadership team and its continued journey toward becoming one of the largest and most successful banks in the United States. PNC remains one of the largest diversified financial services institutions in the U.S., focusing on retail and business banking, specialized corporate services, and wealth management.

Positive

• None.

Negative

• Loss of key executive (President) who played instrumental role in company's growth
• Leadership transition risk with departure of recently appointed president (2024)

Will Assume President & CEO-Elect Role at Fiserv

PITTSBURGH, Jan. 23, 2025 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that President Michael P. Lyons is departing PNC to assume the President & CEO-Elect role at Fiserv. Lyons joined PNC in 2011 to serve as head of Corporate & Institutional Banking and was named president in 2024.

"Mike has been with PNC for 13 years and has been instrumental in our growth and success," said PNC Chairman and CEO William S. Demchak. "He is leaving to go to a great client and partner, and we wish him well. We have built a tremendous leadership team together, and I am confident that we won't miss a step in our journey to becoming one of the largest and most successful banks in the country."

The PNC Financial Services Group, Inc. (NYSE: PNC) is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

CONTACT:

Kristen Pillitteri
(412) 762-4550
media.relations@pnc.com

 

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SOURCE The PNC Financial Services Group, Inc.

FAQ

Why is Michael P. Lyons leaving PNC Financial Services?

Michael P. Lyons is leaving PNC to assume the President & CEO-Elect role at Fiserv.

How long did Michael P. Lyons work at PNC before his departure?

Michael P. Lyons worked at PNC for 13 years, joining in 2011 as head of Corporate & Institutional Banking before becoming president in 2024.

What positions did Michael P. Lyons hold at PNC (NYSE: PNC)?

Lyons served as head of Corporate & Institutional Banking from 2011 and was promoted to president in 2024.

How will PNC manage the transition after President Lyons' departure?

According to CEO William S. Demchak, PNC has built a strong leadership team and expects to maintain its growth trajectory without disruption.