PITTSBURGH, March 15, 2013 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced that Robert Q. Reilly will succeed Richard J. Johnson as chief financial officer.
(Photo: http://photos.prnewswire.com/prnh/20130315/NE77659 )
Reilly has led PNC's Asset Management Group (AMG), which includes its Wealth Management, Capitol Advisors and Hawthorn asset management units, since 2005. He will assume his new position upon the retirement of Johnson, who has announced his plan to leave PNC in the third quarter.
"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 last two years and revenue approaching $1 billion," said James E. Rohr, chairman and chief executive officer of 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."
Reilly joined PNC Bank in 1987 and has held numerous management positions in investment and commercial banking, including serving as executive vice president for PNC's Corporate Banking business. Prior to assuming his current role, Reilly was deputy head of PNC Advisors.
Reilly serves on the board of directors for RAF Industries, the Pennsylvania Horticultural Society and the Delaware Valley Community Reinvestment Fund Investment Committee. He has a bachelor's degree in finance from Georgetown University.
Succeeding Reilly as head of AMG and joining PNC's Executive Committee will be Orlando C. Esposito, current Corporate Banking executive vice president.
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 Youngstown 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. He joined PNC in 1985 from international accounting firm Touche Ross & Company, where he was a certified public accountant. He has a bachelor's degree in accounting from Philadelphia University and an MBA from Villanova University. He is a board member of Philadelphia Museum of Art and the Southeastern Pennsylvania United Way.
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation's largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.
William H. Callihan
SOURCE The PNC Financial Services Group, Inc.