Roughly a month after a naming a new chief executive, PNC Financial Services Group (PNC) has announced a succession plan for its chief financial officer position.
Richard Johnson will retire from the role in the third quarter, the Pittsburgh company said Friday. Johnson has been with PNC since 2003.
Robert Reilly will succeed Johnson as CFO. Reilly has been head of PNC's asset management group since 2005 and has been with the company since 1987. Orlando Esposito, currently executive vice president for corporate banking, will become head of asset management following Reilly's promotion, the company said.
The moves follow the
In a news release, Rohr, who is also PNC's chairman, credited Reilly with helping to build PNC's asset management group into one of the country's top 10 bank-held wealth managers.
He added that Reilly "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."
