The ""PNC Financial Services Group, Inc."":https://www.pnc.com/webapp/sec/Homepage.do?siteArea=/pnccorp/PNC/Home/Corporate%20and%20Institutional, a diversified financial services organization with headquarters in Pittsburgh, Pennsylvania, announced that Robert Q. Reilly will take over the CFO position following the retirement of current executive Richard J. Johnson.[IMAGE]
Reilly joined PNC Bank in 1987 and has held several management positions in investment and commercial banking, including serving as EVP for PNC's corporate banking business. Prior to assuming his current role as head of the company's asset management group, he was deputy head of PNC Advisors.
Reilly also serves on the board of directors for RAF Industries, the Pennsylvania Horticultural Society, and the Delaware Valley Community Reinvestment Fund Investment Committee.[COLUMN_BREAK]
He will assume the CFO role upon the retirement of Johnson, who has announced his intent to leave PNC in Q3.
""Rob helped build PNC's asset management group into one of the top 10 bank-held wealth managers in the United States, with total sales growth above 30 percent in each of the two last years and revenue approaching $1 billion,"" said James E. Rohr, chairman and CEO at PNC. ""We believe he is the right person to advance the work of Rick Johnson.
""Rick's leadership contributed to PNC's dramatic expansion over the past 10 years, and he was instrumental in guiding PNC through the worst financial crisis since the Great Depression,"" Rohr continued.
Succeeding Reilly as head of the asset management group is Orlando C. Esposito, who is currently EVP of corporate banking. Esposito will also be joining PNC's Executive Committee.
Esposito is responsible for growing corporate finance and middle market clients in the Northeast, including the states of Delaware, New Jersey, and Pennsylvania, as well as the Akron, Cleveland, and Youngtown markets. He has been a key leader of the Sales Force Effectiveness initiative, which has contributed to strong client growth in newly acquired Southeastern markets.
Esposito joined PNC in 1985 from Touche Ross & Company, where he was a certified public accountant.