Mark Wiedman: Difference between revisions
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| nationality = American | | nationality = American | ||
| occupation = Banking executive | | occupation = Banking executive | ||
| known_for = President of [[PNC Financial Services]]; former head of international and global client business at [[BlackRock]] | | known_for = President of [[The PNC Financial Services Group]]; former head of international and global client business at [[BlackRock]] | ||
| employer = [[ | | employer = [[The PNC Financial Services Group]] | ||
| title = President | | title = President | ||
}} | }} | ||
'''Mark Wiedman''' is an American financial services executive who serves as | '''Mark Wiedman''' is an American financial services executive who serves as president of [[The PNC Financial Services Group]], the sixth-largest bank in the United States by assets. Appointed to the role in April 2025 after a unanimous vote by PNC's board of directors, Wiedman joined the company following a 21-year career at [[BlackRock]], the world's largest asset manager, where he held a series of senior leadership positions including head of international and, most recently, head of the firm's global client business.<ref name="prnewswire">{{cite news |date=April 7, 2025 |title=Mark Wiedman Joins PNC As President |url=https://www.prnewswire.com/news-releases/mark-wiedman-joins-pnc-as-president-302422471.html |work=PR Newswire |access-date=2026-02-24}}</ref> His departure from BlackRock in early 2025 surprised many in the financial industry, as he had long been considered a potential future leader of the asset management firm.<ref name="barrons">{{cite news |date=April 7, 2025 |title=PNC Hires Mark Wiedman, Former Top BlackRock Executive, as President |url=https://www.barrons.com/articles/pnc-president-mark-wiedman-blackrock-c2e916f4 |work=Barron's |access-date=2026-02-24}}</ref> At PNC, Wiedman works alongside chairman and chief executive officer William S. Demchak as the company pursues an expansion strategy aimed at competing more directly with the largest U.S. banks.<ref name="ft">{{cite news |date=April 7, 2025 |title=PNC names ex-BlackRock executive as president as it eyes expansion |url=https://www.ft.com/content/e6e8e631-2f57-4291-b704-fc7234e807bc |work=Financial Times |access-date=2026-02-24}}</ref> His appointment was viewed within the banking industry as a signal of PNC's ambitions to grow beyond its traditional super-regional footprint and toward megabank status.<ref name="semafor">{{cite news |date=October 15, 2025 |title=PNC's Mark Wiedman on its march to megabank status |url=https://www.semafor.com/article/10/15/2025/pncs-mark-wiedman-on-march-to-mega-bank-status |work=Semafor |access-date=2026-02-24}}</ref> | ||
== Career == | == Career == | ||
| Line 15: | Line 15: | ||
=== BlackRock (2004–2025) === | === BlackRock (2004–2025) === | ||
Wiedman spent 21 years at BlackRock, joining the firm in 2004 and rising through | Wiedman spent 21 years at [[BlackRock]], joining the firm in 2004 and rising through a series of leadership roles that placed him at the center of the company's global expansion and client strategy.<ref name="prnewswire" /> Over the course of his tenure, he became one of the most prominent executives at the asset management giant, which grew to manage trillions of dollars in assets during the period of his employment.<ref name="barrons" /> | ||
Among his most notable roles at BlackRock was serving as head of international, a position in which he oversaw the firm's business operations outside of the United States.<ref name="fintechfutures">{{cite news |date=April 14, 2025 |title=PNC Bank appoints BlackRock veteran Mark Wiedman as president |url=https://www.fintechfutures.com/job-cuts-new-hires/pnc-bank-appoints-blackrock-veteran-mark-wiedman-as-president |work=FinTech Futures |access-date=2026-02-24}}</ref> He also held the position of head of BlackRock's global client business, which was his most recent role before departing the firm.<ref name="bankingdive">{{cite news |date=April 8, 2025 |title=PNC picks BlackRock vet as next president |url=https://www.bankingdive.com/news/pnc-president-wiedman-blackrock-demchak/744741/ |work=Banking Dive |access-date=2026-02-24}}</ref> In that capacity, Wiedman was responsible for the firm's relationships with institutional and retail clients worldwide. | |||
Throughout his time at BlackRock, Wiedman was frequently identified by industry observers and media as a potential successor to BlackRock's chairman and CEO, [[Larry Fink]]. His departure from the firm in January 2025 was met with surprise among industry insiders, given his standing within the company and the widespread expectation that he was being groomed for the top role.<ref name="barrons" /> The [[Wall Street Journal]] described Wiedman as a "former BlackRock star" in its reporting on his move to PNC.<ref name="wsj">{{cite news |date=April 7, 2025 |title=Exclusive {{!}} PNC Names Former BlackRock Star Mark Wiedman as President |url=https://www.wsj.com/finance/banking/pnc-taps-ex-blackrock-star-mark-wiedman-as-president-07906812 |work=The Wall Street Journal |access-date=2026-02-24}}</ref> | |||
=== PNC | === Appointment as PNC President (2025) === | ||
On April 7, 2025, PNC Financial Services announced that its board of directors had unanimously appointed Wiedman as president of the company, effective immediately.<ref name="prnewswire" /> The appointment was | On April 7, 2025, [[The PNC Financial Services Group]] announced that its board of directors had unanimously appointed Mark Wiedman as president of the company, effective immediately.<ref name="prnewswire" /> The appointment was first reported by the ''Wall Street Journal'' as an exclusive story.<ref name="wsj" /> In the role, Wiedman serves under PNC's chairman and CEO, William S. Demchak, who has led the company since 2013.<ref>{{cite news |date=February 14, 2013 |title=PNC Financial Names Demchak to Succeed Rohr as Chief Executive |url=https://www.bloomberg.com/news/articles/2013-02-14/pnc-financial-names-demchak-to-succeed-rohr-as-chief-executive |work=Bloomberg News |access-date=2026-02-24}}</ref> | ||
The hiring was widely covered in financial media, with outlets including the ''Financial Times'', ''Barron's'', ''Banking Dive'', and ''FinTech Futures'' all noting the significance of PNC recruiting a senior executive from BlackRock.<ref name="ft" /><ref name="barrons" /><ref name="bankingdive" /><ref name="fintechfutures" /> The ''Financial Times'' reported that PNC named Wiedman as president "as it eyes expansion," positioning the hire as part of the company's strategy to compete more directly with the largest U.S. banks.<ref name="ft" /> ''Banking Dive'' characterized Wiedman as a "BlackRock vet" and described PNC as a "super-regional" bank seeking to elevate its national profile with the appointment.<ref name="bankingdive" /> | |||
In | In a January 2026 interview with ''The Business Journals'', Wiedman discussed his decision to leave BlackRock after more than two decades. He described his vision for PNC's future growth and spoke about what attracted him to the Pittsburgh-based bank, framing the opportunity as a chance to help lead a major financial institution through a transformative period.<ref name="bizjournals">{{cite news |date=January 2, 2026 |title=PNC's new president on what lured him from BlackRock after 21 years (Newly Minted) |url=https://www.bizjournals.com/pittsburgh/news/2026/01/02/newly-minted-pnc-mark-wiedman.html |work=The Business Journals |access-date=2026-02-24}}</ref> | ||
=== | === PNC's Growth Strategy === | ||
Wiedman | Wiedman's arrival at PNC coincided with a period of strategic expansion for the company. PNC Financial Services Group is the sixth-largest bank in the United States, operating through its banking subsidiary PNC Bank across 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs as of 2021.<ref name="prnewswire" /> The company reported revenue of $21.1 billion in 2022 and total assets placing it among the top tier of American financial institutions. | ||
PNC | Speaking at the Semafor World Economy Summit in October 2025, Wiedman discussed PNC's trajectory toward becoming a megabank. He stated that the company's latest acquisition had edged it closer to that goal, signaling an intent to continue pursuing growth through both organic expansion and strategic acquisitions.<ref name="semafor" /> This public articulation of PNC's ambitions marked an important moment for the company's strategic messaging, with Wiedman serving as a leading voice for the bank's vision on the national and international stage. | ||
The company | PNC has historically grown through significant acquisitions. The company's 2011 acquisition of RBC Bank USA, the U.S. retail banking subsidiary of Royal Bank of Canada, was one of several major transactions that expanded its geographic footprint.<ref>{{cite news |title=PNC Agrees to Buy R.B.C. Unit |url=https://dealbook.nytimes.com/2011/06/20/pnc-agrees-to-buy-r-b-c-unit/ |work=The New York Times DealBook |access-date=2026-02-24}}</ref> Wiedman's role as president positions him as a key figure in continuing this growth trajectory. The company's broad range of services — including consumer banking, corporate banking, private banking, investment banking, wealth management, and credit cards — provides a platform from which PNC can compete for market share against the largest U.S. banking institutions. | ||
Wiedman | The ''Financial Times'' noted that Wiedman was "a potential future leader of the asset manager" at BlackRock but chose to join "a bank seeking to compete with majors," underscoring the strategic significance of the move for both Wiedman's career and PNC's corporate ambitions.<ref name="ft" /> | ||
=== | === Role at PNC === | ||
As president, Wiedman holds one of the two most senior executive positions at PNC Financial Services Group, alongside chairman and CEO William S. Demchak.<ref name="prnewswire" /> The president's role at PNC encompasses broad operational and strategic responsibilities. Wiedman's background in global client management and international operations at BlackRock was seen as complementary to PNC's need for leadership experienced in scaling financial services businesses and managing complex institutional relationships.<ref name="bankingdive" /> | |||
By early 2026, Wiedman had begun to establish himself as a public representative of PNC's strategic direction. His appearances at industry events, such as the Semafor World Economy Summit, and his interviews with major business publications served to communicate PNC's growth plans to investors, regulators, and the broader financial community.<ref name="semafor" /><ref name="bizjournals" /> | |||
PNC Financial Services | == PNC Financial Services Group == | ||
The | The PNC Financial Services Group, Inc., headquartered at Tower at PNC Plaza in Pittsburgh, Pennsylvania, is a publicly traded bank holding company and financial services corporation listed on the New York Stock Exchange under the ticker symbol PNC and included in the S&P 500 index. Through its principal subsidiary, PNC Bank, the company provides a comprehensive suite of financial products and services including consumer banking, corporate banking, private banking, asset management, wealth management, estate planning, loan servicing, insurance, investment banking, mortgage loans, private equity, and credit cards.<ref name="prnewswire" /> | ||
PNC | PNC is one of the largest banks in the United States by assets, number of branches, deposits, and ATMs. As of 2021, PNC Bank operated 2,629 branches and 9,523 ATMs across 27 states and the District of Columbia. The company reported total revenue of approximately $21.1 billion in 2022, with operating income of approximately $7.9 billion and net income of approximately $6.1 billion for the same year. PNC managed approximately $325 billion in assets under management as of 2021 and employed approximately 59,426 people. | ||
The company is recognized as one of the largest [[Small Business Administration]] lenders in the United States and one of the largest credit card issuers. PNC operates one of the country's largest treasury management businesses and is the second-largest lead arranger of asset-based loan syndications. Its subsidiary Harris Williams & Co. is one of the largest mergers and acquisitions advisory firms serving middle-market companies, and its Midland Loan Services division is ranked by the Mortgage Bankers Association as the second-largest master and primary servicer of commercial bank and savings institution loans. | |||
PNC's history includes a series of mergers and acquisitions that have shaped its growth from a regional bank into one of the nation's largest financial institutions. The company has been listed with the [[Securities and Exchange Commission]] and its corporate history is documented through federal financial regulatory filings.<ref>{{cite web |title=PNC Financial Services Group — EDGAR Filings |url=https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=PNC |publisher=U.S. Securities and Exchange Commission |access-date=2026-02-24}}</ref> | |||
== Recognition == | |||
Wiedman's appointment as PNC president attracted significant attention in the financial press, with coverage from major outlets including the ''Wall Street Journal'', ''Financial Times'', ''Barron's'', ''Banking Dive'', ''FinTech Futures'', and ''PR Newswire''.<ref name="wsj" /><ref name="ft" /><ref name="barrons" /><ref name="bankingdive" /><ref name="fintechfutures" /><ref name="prnewswire" /> The breadth and prominence of the media coverage reflected Wiedman's standing in the financial services industry, built over more than two decades at BlackRock. | |||
His selection as a featured speaker at the Semafor World Economy Summit in October 2025, where he discussed PNC's strategy and growth ambitions, further demonstrated his recognition as a leading figure in American banking and finance.<ref name="semafor" /> The ''Business Journals'' featured Wiedman in its "Newly Minted" series profiling significant new executive appointments, further highlighting the industry attention surrounding his transition from asset management to commercial banking.<ref name="bizjournals" /> | |||
Within the financial industry, Wiedman's career trajectory — from a two-decade tenure at the world's largest asset manager to the presidency of one of America's largest banks — has been noted as an unusual and significant cross-sector move. The ''Barron's'' account of his departure from BlackRock characterized it as a surprise to industry insiders, emphasizing the prominence of his position at the asset management firm and the expectations that had surrounded his future there.<ref name="barrons" /> | |||
== References == | == References == | ||
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[[Category:American people]] | [[Category:American people]] | ||
[[Category:BlackRock people]] | [[Category:BlackRock people]] | ||
[[Category:PNC Financial Services]] | [[Category:PNC Financial Services people]] | ||
[[Category:American bankers]] | [[Category:American bankers]] | ||
[[Category: | [[Category:People in finance]] | ||
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{ | { | ||
Latest revision as of 06:19, 24 February 2026
| Mark Wiedman | |
| Nationality | American |
|---|---|
| Occupation | Banking executive |
| Title | President |
| Employer | The PNC Financial Services Group |
| Known for | President of The PNC Financial Services Group; former head of international and global client business at BlackRock |
Mark Wiedman is an American financial services executive who serves as president of The PNC Financial Services Group, the sixth-largest bank in the United States by assets. Appointed to the role in April 2025 after a unanimous vote by PNC's board of directors, Wiedman joined the company following a 21-year career at BlackRock, the world's largest asset manager, where he held a series of senior leadership positions including head of international and, most recently, head of the firm's global client business.[1] His departure from BlackRock in early 2025 surprised many in the financial industry, as he had long been considered a potential future leader of the asset management firm.[2] At PNC, Wiedman works alongside chairman and chief executive officer William S. Demchak as the company pursues an expansion strategy aimed at competing more directly with the largest U.S. banks.[3] His appointment was viewed within the banking industry as a signal of PNC's ambitions to grow beyond its traditional super-regional footprint and toward megabank status.[4]
Career
BlackRock (2004–2025)
Wiedman spent 21 years at BlackRock, joining the firm in 2004 and rising through a series of leadership roles that placed him at the center of the company's global expansion and client strategy.[1] Over the course of his tenure, he became one of the most prominent executives at the asset management giant, which grew to manage trillions of dollars in assets during the period of his employment.[2]
Among his most notable roles at BlackRock was serving as head of international, a position in which he oversaw the firm's business operations outside of the United States.[5] He also held the position of head of BlackRock's global client business, which was his most recent role before departing the firm.[6] In that capacity, Wiedman was responsible for the firm's relationships with institutional and retail clients worldwide.
Throughout his time at BlackRock, Wiedman was frequently identified by industry observers and media as a potential successor to BlackRock's chairman and CEO, Larry Fink. His departure from the firm in January 2025 was met with surprise among industry insiders, given his standing within the company and the widespread expectation that he was being groomed for the top role.[2] The Wall Street Journal described Wiedman as a "former BlackRock star" in its reporting on his move to PNC.[7]
Appointment as PNC President (2025)
On April 7, 2025, The PNC Financial Services Group announced that its board of directors had unanimously appointed Mark Wiedman as president of the company, effective immediately.[1] The appointment was first reported by the Wall Street Journal as an exclusive story.[7] In the role, Wiedman serves under PNC's chairman and CEO, William S. Demchak, who has led the company since 2013.[8]
The hiring was widely covered in financial media, with outlets including the Financial Times, Barron's, Banking Dive, and FinTech Futures all noting the significance of PNC recruiting a senior executive from BlackRock.[3][2][6][5] The Financial Times reported that PNC named Wiedman as president "as it eyes expansion," positioning the hire as part of the company's strategy to compete more directly with the largest U.S. banks.[3] Banking Dive characterized Wiedman as a "BlackRock vet" and described PNC as a "super-regional" bank seeking to elevate its national profile with the appointment.[6]
In a January 2026 interview with The Business Journals, Wiedman discussed his decision to leave BlackRock after more than two decades. He described his vision for PNC's future growth and spoke about what attracted him to the Pittsburgh-based bank, framing the opportunity as a chance to help lead a major financial institution through a transformative period.[9]
PNC's Growth Strategy
Wiedman's arrival at PNC coincided with a period of strategic expansion for the company. PNC Financial Services Group is the sixth-largest bank in the United States, operating through its banking subsidiary PNC Bank across 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs as of 2021.[1] The company reported revenue of $21.1 billion in 2022 and total assets placing it among the top tier of American financial institutions.
Speaking at the Semafor World Economy Summit in October 2025, Wiedman discussed PNC's trajectory toward becoming a megabank. He stated that the company's latest acquisition had edged it closer to that goal, signaling an intent to continue pursuing growth through both organic expansion and strategic acquisitions.[4] This public articulation of PNC's ambitions marked an important moment for the company's strategic messaging, with Wiedman serving as a leading voice for the bank's vision on the national and international stage.
PNC has historically grown through significant acquisitions. The company's 2011 acquisition of RBC Bank USA, the U.S. retail banking subsidiary of Royal Bank of Canada, was one of several major transactions that expanded its geographic footprint.[10] Wiedman's role as president positions him as a key figure in continuing this growth trajectory. The company's broad range of services — including consumer banking, corporate banking, private banking, investment banking, wealth management, and credit cards — provides a platform from which PNC can compete for market share against the largest U.S. banking institutions.
The Financial Times noted that Wiedman was "a potential future leader of the asset manager" at BlackRock but chose to join "a bank seeking to compete with majors," underscoring the strategic significance of the move for both Wiedman's career and PNC's corporate ambitions.[3]
Role at PNC
As president, Wiedman holds one of the two most senior executive positions at PNC Financial Services Group, alongside chairman and CEO William S. Demchak.[1] The president's role at PNC encompasses broad operational and strategic responsibilities. Wiedman's background in global client management and international operations at BlackRock was seen as complementary to PNC's need for leadership experienced in scaling financial services businesses and managing complex institutional relationships.[6]
By early 2026, Wiedman had begun to establish himself as a public representative of PNC's strategic direction. His appearances at industry events, such as the Semafor World Economy Summit, and his interviews with major business publications served to communicate PNC's growth plans to investors, regulators, and the broader financial community.[4][9]
PNC Financial Services Group
The PNC Financial Services Group, Inc., headquartered at Tower at PNC Plaza in Pittsburgh, Pennsylvania, is a publicly traded bank holding company and financial services corporation listed on the New York Stock Exchange under the ticker symbol PNC and included in the S&P 500 index. Through its principal subsidiary, PNC Bank, the company provides a comprehensive suite of financial products and services including consumer banking, corporate banking, private banking, asset management, wealth management, estate planning, loan servicing, insurance, investment banking, mortgage loans, private equity, and credit cards.[1]
PNC is one of the largest banks in the United States by assets, number of branches, deposits, and ATMs. As of 2021, PNC Bank operated 2,629 branches and 9,523 ATMs across 27 states and the District of Columbia. The company reported total revenue of approximately $21.1 billion in 2022, with operating income of approximately $7.9 billion and net income of approximately $6.1 billion for the same year. PNC managed approximately $325 billion in assets under management as of 2021 and employed approximately 59,426 people.
The company is recognized as one of the largest Small Business Administration lenders in the United States and one of the largest credit card issuers. PNC operates one of the country's largest treasury management businesses and is the second-largest lead arranger of asset-based loan syndications. Its subsidiary Harris Williams & Co. is one of the largest mergers and acquisitions advisory firms serving middle-market companies, and its Midland Loan Services division is ranked by the Mortgage Bankers Association as the second-largest master and primary servicer of commercial bank and savings institution loans.
PNC's history includes a series of mergers and acquisitions that have shaped its growth from a regional bank into one of the nation's largest financial institutions. The company has been listed with the Securities and Exchange Commission and its corporate history is documented through federal financial regulatory filings.[11]
Recognition
Wiedman's appointment as PNC president attracted significant attention in the financial press, with coverage from major outlets including the Wall Street Journal, Financial Times, Barron's, Banking Dive, FinTech Futures, and PR Newswire.[7][3][2][6][5][1] The breadth and prominence of the media coverage reflected Wiedman's standing in the financial services industry, built over more than two decades at BlackRock.
His selection as a featured speaker at the Semafor World Economy Summit in October 2025, where he discussed PNC's strategy and growth ambitions, further demonstrated his recognition as a leading figure in American banking and finance.[4] The Business Journals featured Wiedman in its "Newly Minted" series profiling significant new executive appointments, further highlighting the industry attention surrounding his transition from asset management to commercial banking.[9]
Within the financial industry, Wiedman's career trajectory — from a two-decade tenure at the world's largest asset manager to the presidency of one of America's largest banks — has been noted as an unusual and significant cross-sector move. The Barron's account of his departure from BlackRock characterized it as a surprise to industry insiders, emphasizing the prominence of his position at the asset management firm and the expectations that had surrounded his future there.[2]
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 "Mark Wiedman Joins PNC As President".PR Newswire.April 7, 2025.https://www.prnewswire.com/news-releases/mark-wiedman-joins-pnc-as-president-302422471.html.Retrieved 2026-02-24.
- ↑ 2.0 2.1 2.2 2.3 2.4 2.5 "PNC Hires Mark Wiedman, Former Top BlackRock Executive, as President".Barron's.April 7, 2025.https://www.barrons.com/articles/pnc-president-mark-wiedman-blackrock-c2e916f4.Retrieved 2026-02-24.
- ↑ 3.0 3.1 3.2 3.3 3.4 "PNC names ex-BlackRock executive as president as it eyes expansion".Financial Times.April 7, 2025.https://www.ft.com/content/e6e8e631-2f57-4291-b704-fc7234e807bc.Retrieved 2026-02-24.
- ↑ 4.0 4.1 4.2 4.3 "PNC's Mark Wiedman on its march to megabank status".Semafor.October 15, 2025.https://www.semafor.com/article/10/15/2025/pncs-mark-wiedman-on-march-to-mega-bank-status.Retrieved 2026-02-24.
- ↑ 5.0 5.1 5.2 "PNC Bank appoints BlackRock veteran Mark Wiedman as president".FinTech Futures.April 14, 2025.https://www.fintechfutures.com/job-cuts-new-hires/pnc-bank-appoints-blackrock-veteran-mark-wiedman-as-president.Retrieved 2026-02-24.
- ↑ 6.0 6.1 6.2 6.3 6.4 "PNC picks BlackRock vet as next president".Banking Dive.April 8, 2025.https://www.bankingdive.com/news/pnc-president-wiedman-blackrock-demchak/744741/.Retrieved 2026-02-24.
- ↑ 7.0 7.1 7.2 "Exclusive | PNC Names Former BlackRock Star Mark Wiedman as President".The Wall Street Journal.April 7, 2025.https://www.wsj.com/finance/banking/pnc-taps-ex-blackrock-star-mark-wiedman-as-president-07906812.Retrieved 2026-02-24.
- ↑ "PNC Financial Names Demchak to Succeed Rohr as Chief Executive".Bloomberg News.February 14, 2013.https://www.bloomberg.com/news/articles/2013-02-14/pnc-financial-names-demchak-to-succeed-rohr-as-chief-executive.Retrieved 2026-02-24.
- ↑ 9.0 9.1 9.2 "PNC's new president on what lured him from BlackRock after 21 years (Newly Minted)".The Business Journals.January 2, 2026.https://www.bizjournals.com/pittsburgh/news/2026/01/02/newly-minted-pnc-mark-wiedman.html.Retrieved 2026-02-24.
- ↑ "PNC Agrees to Buy R.B.C. Unit".The New York Times DealBook.https://dealbook.nytimes.com/2011/06/20/pnc-agrees-to-buy-r-b-c-unit/.Retrieved 2026-02-24.
- ↑ "PNC Financial Services Group — EDGAR Filings".U.S. Securities and Exchange Commission.https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=PNC.Retrieved 2026-02-24.