PNC Names Chamberlain to Head Mortgage Unit

PNC Financial Services Group (PNC) has named the next chief executive for its mortgage lending unit.

The Pittsburgh company said Wednesday it will promote E. Todd Chamberlain to the post in April.

Chamberlain, who has served as president and chief operating officer of PNC Mortgage since joining the company in 2011, previously held a top mortgage post at Regions Financial (RF).

He succeeds Saiyid Naqvi, who will retire next month. Naqvi returned to PNC in 2009 at the request of Chief Executive James Rohr to supervise the integration of National City Mortgage, which PNC bought the previous year for roughly $5.6 billion.

Naqvi led an earlier PNC mortgage unit until 2001, when, partly on his advice, PNC sold the business and avoided the worst of the mortgage meltdown, the company said.

PNC President William Demchak, who is expected to succeed Rohr in April as CEO, said in a press release that Chamberlain "has the skill and experience to build upon the work of Sy Naqvi, who successfully repositioned PNC's nationwide residential mortgage business after we acquired coast-to-coast origination capability with the National City purchase in late 2008."

Chamberlain's appointment continues a series of executive moves by the $305 billion-asset PNC, which recently named Robert Reilly chief financial officer. He will succeed Richard Johnson, who is expected to retire from the company in the third quarter.