Mark Wiedman Tapped as President of PNC Financial Services

PNC Financial Services Group has made a significant leadership move by naming Mark Wiedman as president of both the parent company and its subsidiary PNC Bank, National Association. Effective immediately, Wiedman will operate under the oversight of PNC Chairman and Chief Executive Officer William Demchak. This appointment represents a strategic effort to bring top-tier financial expertise into PNC’s leadership ranks.

Banking Leader Brings Extensive BlackRock Experience

Wiedman arrives at PNC from a distinguished tenure at BlackRock, one of the world’s most influential asset management firms. As a senior managing director and Global Executive Committee member, Wiedman oversaw the Global Client Business division, stewarding an impressive $11 trillion in commercial relationships spanning financial institutions and investors across the globe. His portfolio of responsibilities extended across partnerships and joint ventures that form the backbone of BlackRock’s institutional network. Prior to this role, Wiedman headed the iShares and Index Investments business, positioning him as a veteran in navigating complex financial markets and investment infrastructure.

Track Record in Financial Crisis Management and Market Building

Wiedman’s career arc demonstrates a pattern of thriving during turbulent financial periods. Early in his BlackRock career, beginning in 2004, he joined the firm’s Financial Markets Advisory group, where he focused on capital markets strategy and balance sheet optimization. When the financial crisis struck, Wiedman took on a pivotal role in coordinating BlackRock’s emergency assistance efforts to governments and financial institutions worldwide. He was also instrumental in establishing Penny Mac in 2008, serving on its board through 2019 and helping shape a major player in the mortgage finance space. Before joining BlackRock, Wiedman served as senior advisor to the Under Secretary for Domestic Finance at the U.S. Treasury, giving him direct experience in high-level financial policy and crisis response.

Strategic Addition to PNC Leadership

With his appointment, Mark Wiedman brings a unique combination of institutional asset management expertise, crisis management experience, and policy-level financial knowledge to PNC. His background in managing massive client portfolios and navigating complex financial relationships positions him to address the evolving needs of modern banking. The selection underscores PNC’s commitment to strengthening its executive team with leaders who have demonstrated success at the highest echelons of global finance.