Mark Wiedman

Mark Wiedman
Nationality	American
Occupation	Banking executive
Title	President
Employer	The PNC Financial Services Group, Inc.
Known for	President of PNC Financial Services; former head of international and global client business at BlackRock

Mark Wiedman is an American financial services executive who serves as the president of The PNC Financial Services Group, Inc., the sixth-largest bank in the United States by assets. He was appointed to the role in April 2025 after spending more than two decades at BlackRock, the world's largest asset management firm, where he held a series of senior leadership positions including head of global client business and head of international operations. Wiedman's departure from BlackRock in early 2025 drew attention across the financial industry, as he had long been considered a potential successor to BlackRock's founder and chief executive, Larry Fink. His move to PNC signaled the Pittsburgh-based bank's ambitions to expand its national and potentially global footprint, competing more directly with the largest American financial institutions. At PNC, Wiedman reports to chairman and chief executive officer William S. Demchak and plays a central role in shaping the company's strategic direction as it pursues growth through acquisitions and organic expansion.

Career

BlackRock (2004–2025)

Wiedman spent 21 years at BlackRock, joining the firm in 2004 and rising through its ranks to become one of its most prominent executives. Over his tenure at the asset management giant, he held multiple leadership roles that expanded in scope and responsibility. He served as head of iShares, BlackRock's exchange-traded fund platform, which grew into one of the largest ETF businesses in the world during his leadership. He subsequently took on the role of head of international, overseeing BlackRock's operations and growth outside the United States, before being named head of the firm's global client business.

Within the financial industry, Wiedman was frequently identified as among the leading candidates to eventually succeed Larry Fink as BlackRock's chief executive officer. His departure from BlackRock in January 2025 surprised many industry insiders, as it was not immediately clear what role he would take next. The announcement that he would be leaving the firm generated significant media coverage, reflecting both his personal standing in the asset management world and the implications for BlackRock's succession planning.

During his time at BlackRock, Wiedman was involved in the firm's expansion into new markets, product lines, and client segments. His experience spanned asset management, institutional and retail client relations, and international business development. These varied roles gave him exposure to a broad range of financial services disciplines beyond traditional asset management, a background that would later factor into PNC's decision to recruit him for its top operational role.

PNC Financial Services (2025–present)

On April 7, 2025, PNC Financial Services announced that its board of directors had unanimously appointed Wiedman as president of the company, effective immediately. The appointment was announced in a press release and was simultaneously reported by major financial news outlets including The Wall Street Journal, the Financial Times, Barron's, and Banking Dive.

At PNC, Wiedman serves as president alongside chairman and CEO William S. Demchak, who has led the company since 2013. The hiring was viewed by financial analysts and industry observers as a signal that PNC was positioning itself for its next phase of growth. The Financial Times reported that PNC, under Wiedman's leadership alongside Demchak, was seeking to compete more directly with the nation's largest banks. The Wall Street Journal described Wiedman as a "former BlackRock star" in its coverage of the appointment, underscoring the significance of recruiting an executive of his profile to a super-regional bank.

In an interview with The Business Journals published in January 2026, Wiedman discussed his reasons for leaving BlackRock after more than two decades and joining PNC. He shared his vision for the Pittsburgh-based bank and what had attracted him to the opportunity, describing the appeal of working at a bank that was on a growth trajectory and had the potential to become a significantly larger institution.

Strategic direction and expansion

Wiedman has been publicly associated with PNC's strategy to grow into what industry participants describe as "megabank status." Speaking at the Semafor World Economy Summit in October 2025, he discussed PNC's recent acquisitions and the company's trajectory toward becoming a larger institution in the American banking landscape. Wiedman stated that PNC's latest acquisition had edged it closer to that goal, signaling the bank's intent to continue pursuing growth through both acquisitions and organic expansion.

PNC Financial Services, as of 2022, reported total revenue of approximately $21.1 billion, net income of approximately $6.1 billion, and total assets making it one of the largest banks in the United States. The company operates PNC Bank, its banking subsidiary, across 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs as of 2021. Under Wiedman's presidency, the bank has continued to build on a long history of acquisitions, including its 2011 purchase of RBC Bank (USA), the American retail banking subsidiary of the Royal Bank of Canada.

The company provides a wide range of financial services including consumer banking, corporate banking, private banking, investment banking, asset management, wealth management, estate planning, mortgage loans, and credit card services. PNC also operates one of the largest treasury management businesses in the United States and is a major lender through the Small Business Administration program. Its subsidiary Harris Williams & Co. is one of the country's largest mergers and acquisitions advisory firms focused on the middle market.

Wiedman's appointment to PNC was notable in the context of the broader American banking industry, where the gap between the nation's four largest banks and the next tier of institutions has been a persistent feature. By recruiting a senior executive from the world's largest asset management firm, PNC sought to bring experience in global business operations, client management, and strategic growth to its leadership team as it aimed to close that gap.

Prior career

Before joining BlackRock in 2004, Wiedman had a career that included experience in both the public and private sectors. The specific details of his pre-BlackRock career, including any roles in government, law, or other financial institutions, were referenced in various news accounts of his appointment to PNC but are not fully detailed in available sourced material.

PNC Financial Services

PNC Financial Services, the company where Wiedman serves as president, has a long corporate history rooted in Pittsburgh's banking sector. The company traces its origins to multiple predecessor institutions and has grown through a series of mergers and acquisitions over the course of several decades. PNC is headquartered at Tower at PNC Plaza in Pittsburgh, Pennsylvania.

The company expanded significantly during the 2008 financial crisis, when it acquired National City Corporation with the support of a capital investment from the U.S. government's Troubled Asset Relief Program. Under CEO William S. Demchak, who took the helm in 2013, PNC continued to pursue strategic growth, including the divestiture of its stake in BlackRock — a notable connection given Wiedman's later move from BlackRock to PNC.

PNC Bank, the company's principal banking subsidiary, is one of the largest banks in the United States by number of branches, deposits, and assets. The bank also operates Midland Loan Services, a division of PNC Real Estate based in Overland Park, Kansas, which is ranked as the second-largest master and primary servicer of commercial bank and savings institution loans by the Mortgage Bankers Association.

Recognition

Wiedman's appointment as PNC's president received extensive coverage in the financial press, reflecting his standing as one of the most prominent executives in the asset management and financial services industries. Major outlets including The Wall Street Journal, the Financial Times, Barron's, Banking Dive, and FinTech Futures all covered the announcement as a significant development in the banking industry.

His public appearances as PNC's president have included speaking engagements at industry conferences. In October 2025, he spoke at the Semafor World Economy Summit, where his remarks about PNC's growth strategy and ambitions to approach megabank status generated additional media attention.

During his time at BlackRock, Wiedman was consistently identified in financial press reports as a member of the firm's most senior leadership circle and a potential future CEO. Barron's described him as a "powerful top executive" at BlackRock, while The Wall Street Journal referred to him as a "star" of the firm.

Legacy

As of early 2026, Wiedman's tenure as president of PNC is in its early stages, and a full assessment of his impact on the company remains to be determined. However, his appointment has already been associated with a shift in PNC's strategic positioning and ambitions. The recruitment of an executive from BlackRock — one of the most influential firms in global finance — to lead a super-regional bank was interpreted by industry observers as a statement of PNC's intent to compete at a higher level in the American banking landscape.

Wiedman's career trajectory, from more than two decades at the world's largest asset management firm to the presidency of one of the largest American banks, represents an unusual path in the financial services industry, where senior executives typically remain within the same subsector — asset management, investment banking, or commercial banking — throughout their careers. His move to PNC suggested a blurring of traditional boundaries within the financial industry and reflected the increasing convergence of banking and asset management business models.

His vision for PNC, as articulated in public remarks and interviews, centers on growing the institution through both acquisitions and organic expansion to narrow the gap between PNC and the nation's largest banks. Whether PNC achieves that ambition under Wiedman's leadership will be a significant part of his professional legacy in the years ahead.