Mark Wiedman

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. 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. 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. 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.

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. 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.

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. He also held the position of head of BlackRock's global client business, which was his most recent role before departing the firm. 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. The Wall Street Journal described Wiedman as a "former BlackRock star" in its reporting on his move to PNC.

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. The appointment was first reported by the Wall Street Journal as an exclusive story. In the role, Wiedman serves under PNC's chairman and CEO, William S. Demchak, who has led the company since 2013.

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. 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. 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.

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.

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. 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. 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. 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.

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. 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.

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.

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.

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.

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. 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. 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.

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.