The PNC Financial Services Group (NYSE: PNC) announced the appointment of Michael P. Lyons as president of the corporation and its subsidiary PNC Bank.
Lyons succeeds William S. Demchak, who will continue in his current roles as chairman and CEO of the corporation. PNC’s primary operating lines of business and the regional presidents office will report to Lyons, who in turn will report to Demchak.
Lyons has been an executive vice president and head of corporate and institutional banking since he joined PNC in October 2011. During his tenure, Lyons helped lead PNC’s acquisitions of RBC Bank (USA) (2012) and BBVA USA (2021). Prior to PNC, Lyons served as global head of corporate development and strategic planning for Bank of America; earlier in his career, he served as a portfolio manager at investment advisor Maverick Capital.
Outside of PNC, Lyons is a national trustee of the Boys & Girls Clubs of America and currently serves as the board chairman for the Pittsburgh Parks Conservancy. He is also a member of the board of directors of the University of Pittsburgh Medical Center.
“For more than a decade, Mike has been a vital leader in growing the firm and building expertise in service of our commercial and institutional clients,” said Demchak. “In his new role, he will be instrumental in further driving responsible growth across our franchise and strengthening PNC’s position as a leading national bank.”
Lyons will be taking the leadership of an expanded PNC – last week, the Pittsburgh-headquartered bank announced it will invest approximately $1 billion to open more than 100 new locations and renovate more than 1,200 existing locations through 2028.
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